By a huge 361-64 margin, the U.S. House just approved wide-ranging regulations designed to reign in abusive credit card practices. The Senate already approved the bill, so President Obama could sign it within the next few days. I blogged about these reforms last month. If you want the details on the Credit Cardholders Bill of Rights Act 2009, read it here. In true Washington fashion, the bill features with a tacked-in, totally unrelated provision that would allow people to carry loaded guns in national parks. Obama says he will sign the bill whether it has the provision or not.

Not to throw cold water on the victory over the barons of plastic, but the AP has this primer on what you should and shouldn’t expect as a result of the new law.

This entry was posted on Wednesday, May 20th, 2009 at 1:38 pm and is filed under Businesses in hot water. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.