Detailed text transcripts for TV channel - FOXNEWS - 20100822:23:33:00
Increases and inactivity fees. now, to start, the new rules say late payment penalties can't be more than $25 or the amount of your late payment. so if you're late on say $20. your penalty fee cannot be more than $20. and in addition, you credit card company can no longer hit you with an inactivity fee for not using the card. if your card decides to increase the rate because of excessive late payments, for instance, you need to be told why. they can no longer just do th blindly and six month later you have the right to review. if you corrected bad behavior and want the rate lowered the company...
Source: news source