New credit card rules coming Thursday!! (May 21th, 2009)

---[B]Finance Minister to unveil new regulations that include 21-day grace period, more disclosure on interest rates.[/B]


Federal Finance Minister Jim Flaherty will unveil new credit card regulations at a news conference in Toronto on Thursday, a day after the U.S. Congress passed a “bill of rights” for credit cardholders.

The Canadian measures are expected to include the imposition of a minimum 21-day grace period, and requirements that financial institutions provide better disclosure about interest rates.

The government wants clear and simple information on credit card application forms and contracts, as well as clear and timely advance notice of changes in rates and fees.

Mr. Flaherty has assured sources in the financial industry that he will not be taking tougher measures, such as imposing a ceiling on interest rates. Ottawa said in its January budget that it would be taking steps to ensure that consumers are better informed to make decisions about credit cards.

如果经济环境继续恶化，失业率增加，收入下降。
美国很有可能爆发信用卡危机，持信用卡消费的人群还不起钱，不还钱，这个如果发生的话
是真正的金融危机第二波。造成的影响比次级贷款有过之而无不及。

买了金融股票类的朋友们要严重关注上述情况，持美国运通AE等信用卡公司股票者强烈建议清仓出局观望。