Lawmakers vow to tackle rate hikes, reform arcane fee system
(NEWSER) - Dem lawmakers vow to finally rein in credit card companies after years of consumer complaints, the Washington Post reports. They want lenders to scrap random rate hikes and inscrutable fees, and plan to tackle it in a hearing next week; one rep has already drawn up legislation. But industry lobbyists are crying foul. “They’re getting oversight, and they don’t like it,” said one advocate. More»
