New credit card regs will help consumers

The following editorial appeared in Wednesday’s Washington Post: August brought the phase-in of the last new credit card regulations under the Credit Card Accountability, Responsibility and Disclosure Act, also known as the Credit CARD Act, which was passed by Congress and signed by President Barack Obama more than a year ago. Among other things, the new rules ban credit card companies from charging fees that are larger than the infraction: If you miss a $20 payment, the maximum penalty is $2...