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Obama signs U.S. credit card reforms into law
Last Updated: Friday, May 22, 2009 | 4:42 PM ET Comments100Recommend74
CBC News
U.S. President Barack Obama signed legislation on Friday that will mean big changes for every American with a credit card.
The bill marks a sea change for the credit card industry with restrictions on everything from sudden hikes on interest rates to who can actually get a card.
"Most Americans use credit cards all the time as a temporary convenience," Obama said from the White House's rose garden on Friday.
