What change? Exactly what has changed?
The Senate today voted down a proposal that would cap credit card interest at 15%. The Senators who voted against it (only 33 supported it) argued that it was such a "controversial" provision, they were afraid that they would lose support for their consumer rights credit card law that they have drafted, which President Obama has claimed will be some great victory for consumers.
Except the pending law is a bunch of meaningless crap. The real reason they won't cap interest rates is because the credit card companies pay so much money in bribes to the politicians. So they sell their votes. And Obama sells the presidency and the white house. And the public gets screwed once again.
This much ballyhooed consumer-rights law includes such ridiculous "protections" as requiring the credit card company to give debtors notice before they raise the interest rates (to however high they want). What good does that do? The debtor can't pay off the card -- they don't have the money. The debtor can't move to some other card -- they all do the same, they all have the low-interest come-on that is yanked away in 3 months and replaced with the usurious interest.
Loan sharks. Our entire federal government is on the payroll of loan sharks. Criminals. The people who put the Mafia out of business. And they own Congress, and they own the President.
This is what we should do. Stop paying our credit cards. Demand a cap of 10% interest, and don't pay one penny to the credit card companies until Congress gets up off their lazy corrupt asses and passes a law making it illegal for anyone, credit card companies included, to charge anyone more than 10% interest on any loan, charge, or other financial transaction bearing interest.
Want a big laugh? The Republicans keep saying the Democrats are "socialists." The Democrats are closer to being made-men in the mob than to being socialists. Socialists actually do something for the people once in awhile, instead of just shoveling all the money into the coffers of the corporations.