On Friday May 22, 2009 President Obama signed The Credit Card Accountability Responsibility and Disclosure (CARD) Act into law. Though in a way the banks shot themselves in foot through sheer greed and unfair (read abusive) business practices, we consumers can’t help but celebrate. We had won a battle against “special interests”.

Well, special interests did get something out of it after all, as the new law will not go into effect until February 2010. This law should have taken effect immediately. The banks and credit card companies are doing it (abusive practices) now! Why give them more time to continue trampling it over us?

More on New Credit Card Laws – Celebrating a Corporate Greed Loss

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