An overview of changes to credit card regulations and discussion of potential impacts on card users

Significant regulatory changes affecting credit card terms and conditions were signed into law in May 2009, and took effect in February 2010. A number of these changes will affect lower-income consumers, ostensibly those with few options to "shop" contracts and features in ways that might not impact mainstream consumers. Most Changes will affect the majority of consumers. This brief essay summarizes the overall changes, and provides some comments on the changes that may affect the subprime and/or lower-income subset of credit card user, as well as those impacted by job loss or business downturns in the recent recession, in more pronounced or differing ways.