By Brian Redhead
Directly catalyzed by the faltering economy, federal regulation of credit card companies is becoming significantly more rigid, aiming to protect the consumer from both predatory as well as deceitful practices. Specifically, in the April, 2009 article entitled “Credit Card Spending Linked to Addiction”, the staff of Talk News Radio allude to a connection between the incurrence of credit card debt and the addictive personality, effectively placing extensive blame on credit card companies for enabling the addictive personality through such common practices as readily offering credit to those already substantially in debt.
By extension, the federal government is beginning to legislatively recognize the role consumer debt has played in causing the economic downturn. Author Jessica Holzer, in her article entitled “Bill-Tightening Credit Card Rules Advances In-House”, asserts that new regulations would ban credit card marketing to minors as well as restrict the ability to offer teaser rates and subjectively change agreement terms. In a similar article, the staff of The Advocate support Holzer’s description of the new bill and offers that new regulations would protect the consumer by not allowing the recession to give an excuse to incur more debt. Additionally, the new bill would protect consumers that pay their bills on time by not allowing unsubstantiated, and indeed unexpected, rate increases.
In essence, new federal regulations would restrict the credit card companies’ ability to deceitfully entice consumers to sign up for potentially hazardous credit terms. In recognition that consumer debt was largely to blame for the economic crisis, the government is hoping to stave a further downturn that would undoubtedly result from struggling consumers opting to obtain easy credit for fear of a job loss or other inability to remain financially sound.
Sources:
http://talkradionews.com/2009/04/credit-card-spending-linked-to-addiction/
http://online.wsj.com/article/SB123869894386283373.html
http://www.stamfordadvocate.com/norwalkadvocate/business/ci_12067067
When you rent a car, you are liable for injuries and property damage you cause to others, and damage to the rental car whether it’s your fault or not. With some restrictions, your insurance policy will cover you in your policy territory (United States, its possessions and territories, and Canada) if you injure someone or their property. In most cases, your auto policy will also cover damage to the rental car, but you must carry comprehensive and collision coverage on at least one of your covered autos. 
