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Wednesday 27 May 2009

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It’s not often that the President of the US steps in to defend consumers against the banking industry. However that’s exactly what happened this week when President Barack Obama signed into law sweeping reforms that restrict credit card interest rates and fees. 

The aim of the reforms is to force financial institutions to be fairer and more transparent and accountable in their dealings with borrowers. But the banks aren’t happy.

In Moneygirl’s article of the week Reuters outlines details of the reforms on BusinessDay, The Age Online.

Join our forum topic of the weekCredit – convenient money or the work of the devil?

 

 

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