Thread: What's the point of this house bill on credit cards?!

If the Fed rules take effect in June 2010 then why is the house wasting time trying to do a bill that would not take effect until 1 year after it is passed. Originally their bill was supposed to be 3 months but they caved into the banks and changed it to a year. It's already April so let's say they can pass it by May (fat chance) that means it won't go into effect until May 2010- a whopping 1 month before the Fed's same rules go into effect.

UPDATE 1-US House bill would ease credit card timeframe | Reuters

What's the point of this bill? This is no help.

There is no point. It's window dressing so our lawmakers can pretend they're actually working for us.