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The Anticipated Consequences of Credit-Card “Reform”


In anticipation of new credit card regulations taking effect, credit-card issuers increased interest rates and annual fees and slashed perqs. Hans Bader has the details. Unintended consequences of regulation? Perhaps. Unexpected? Not at all. And, as Todd Zywicki explains, there’s more to come when additional rules take effect next year. At that time “look for more offsetting changes to your credit cards: more annual fees, higher interest rates, less-generous rewards, higher penalty fees, lower credit lines, and less access to credit.”


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