Under Siege Credit Card Companies Target New Sources of Revenue

(ChattahBox)—As the Senate wraps up its debate on the Credit Card Accountability, Responsibility, and Disclosure Act and the powerful banking lobby exerts as much influence as it can, the final version of the bill is starting to take shape, and it will differ significantly from the House version in several important respects.

Still, the banking industry is not happy and is already putting on a media blitz, evidenced in a New York Times article today, pitting credit card holders with sterling credit against the less credit worthy, claiming that people with good credit will be paying for the deadbeats, because now the banks will be forced to return to charging hefty monthly fees and pulling back good credit rewards and other perks of the trade.