These two articles about the aftermath of the recently enacted credit card rules demonstrate the shortcomings and unintended consequences of financial regulation and the need for financial literacy.
The first article shows how credit card companies are instituting new fees to replace the ones that are now illegal and finding clever ways to trick borrowers into paying higher interest rates.
The second one discusses how risky borrowers are losing access to credit cards and turning to even worse pay day lenders instead. There really is no substitute for educated consumers.