Fed changes on credit cards a band-aid.

Yes while the proposed federal reserve regulations are a step forward in bringing change to what is in my opinion and abusive and exploitive industry it does nothing for those already in financial duress. Yes and nothing to ease the major impact this industry has in pushing our economy and many average Americans over the edge.

So here is the question? Just why is it that our legislators at all levels fail to recognize the harm this industry has caused on our nation and to take immediate action now? Why is it that they have not spoken out and taken action on the usurious rates being charged as well as fees and reverse them now? Certainly as unsecured debt why have our leaders seen fit to strengthen these lenders hands by providing write off’s, limiting bankruptcy flexibility and ruining credit scores which play a major impact on people to secure work, higher rates on all mandated services and financing? What do you say?