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While banks should be required to provide explicit and understandable disclosure to anyone they do business with, perhaps a better bill would be one that requires better disclosure to CONSUMERS and regulates unethical and predatory fees for which credit card issuers are famous. After all, its consumers who pay fees for using the cards and who cover the merchants' fees via markups in products sold.
How about curbing the loan shark interest rates on interest rates. Limit the credit card from changing fees and service charfes to interest at 36%. Tie the interest to the Prime which is at 3% now.
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