Did anything change............

[magyar123]

......or was it just politicians BSing? Earlier this year a US Senate committee hearing was held where they read banks/creditors the riot act about the "universal default" policy. Bank representatives just stammered "but, but, but".
Was actually surprised that the Senate even went after them given the fact that the Oct. 2005 new bankruptcy laws were handed to them on a silver platter after they (creditors/banks) bought and paid for them.

[lrprn]

2005 Republican-controlled Congress = new bk law favorable to creditors. 2007 Democrat-controlled Congress = credit card abuse hearings. It's all politics.

And no, other than the bad publicity, no law has been enacted as yet by this Congress that will stop credit card companies from jacking up APRs and charging outrageous late fees when they feel like it or from giving ridiculously high credit limits to people who can't afford it or who are unemployed college students.