Consumer Law

Washington Post: Credit Card Reform Legislation Not Really Needed

By Brian Wolfman

Today's Washington Post has this editorial claiming that although the credit card reform legislation on its way to enactment is good in substance it is largely unnecessary because, the Post asserts, it mainly apes new Federal Reserve Board rules.

The Fed's rules do not include a provision permitting visitors to national parks to carry concealed weapons. (Though we hear that the Comptroller of the Currency is considering a new rule that would allow customers to carry bazookas into national banks. The Comptroller is, however, going to take the position that its new rule would preempt recent efforts by some states to require their citizens to be armed when they enter national banks.)

Full post as published by CL&P Blog on May 21, 2009 (boomark / email).