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Taking a Swipe at Credit Firms: Some Will Lose Out in Reform Legislation

AM New York
For the 19-year-old college student who uses plastic to pay for books and living expenses, the credit card overhaul passed by the House yesterday is bad news.

For the salesman who works on commission and missed one payment after a bad month, the new rules offer protection against huge increases and some breathing room to rein in costs.

With President Barack Obama set to sign the sweeping new credit card rules into law, the government fundamentally has shifted the relationship between the companies and their customers, especially those who carry debt from month to month.

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