The U.S. Senate protected the Rules already adopted in favor of consumers' voluntary spending in this economy. In a step forward for consumers' credit, the Senate protected Rules that inhibit Banks and Credit Card Companies from over-charging for debit card use -- surreptitiously or otherwise. The charges which the Rules are likely to prevent are predicted to save consumers "annual revenue" in the billions of dollars.
For an alternate viewpoint, see Victoria McGrane and Maya Jackson Randall, "Banks Dealt a Debit Setback" p. C1, col. 6 (Wall Street Journal, Thursday, June 9, 2011)(protecting Rules will cost Banks and Credit Card Companies "billions of dollars in annual revenue.").
The Banks for one have already made Insurance Claims upon Mortgage Insurance Policies held by defaulting Homeowners. See Categories, "Foreclosure," "Mortgage Insurance". Will Insurance Claims now also be made on Credit Insurance Policies?
If Insurance Claims have already been made, and you know about them, I invite you to post a Comment here describing them. Thank you.
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