05/20/2009 - It's not a bailout, but this could be quite a week for consumers, with the president expected to sign by Memorial Day the most sweeping reforms of credit card industry regulations in more than 20 years.
It is a momentous change for U.S. households who have yet to see much of the government's largesse in the recession, while big businesses, especially banks, have reaped billions in taxpayer-funded bailouts.
"It affects significantly more people than the mortgage issue touches," said Nick Bourke, who has analyzed the credit card industry at the Pew Charitable Trust, a nonprofit group in Washington. "What we're talking about here is a strong contract between the consumer and the credit card company and transparency."
Read the full article Credit Card Bill a Boon to Consumers on The Hartford Courant's Web site.
Pew is no longer active in this line of work, but for more information visit the Safe Credit Cards Project on PewHealth.org.