Card makers jack prices in face of new regulations
(NEWSER) - Interest rates are tumbling for US Treasuries, companies, and home-buyers. The prime rate is extremely low. Yet for some reason, credit card companies are charging more and more, with average rates hitting a nine-year high of 14.7% in the second quarter, the Wall Street Journal reports. Companies say they’re reacting to new regulations that prevent them from charging penalty fees and raising rates without warning customers. More»