Word: carded
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...movie's first title card reads: "Lars von Trier." And the second: "Antichrist." It's almost the Danish director's job description, for he revels in his carefully honed reputation as the nutcake in the buffet of international cinema. So leave it to von Trier to slap a somnolent Cannes festival to life - in fact, to smack it silly. (See TIME's photos from the red carpet at Cannes...
...approach therefore is not to smack down credit-card companies for high interest rates but rather to hold everyone to the original agreement about how much credit will cost. "Virtually no other contract in this country allows a business to change the terms of an agreement once a purchase has been made," says Travis Plunkett of the Consumer Federation of America. "That's the main issue." (One Senator suggested an interest-rate cap, but that was shot down...
...Other provisions of the law are similarly set up. A card company can still change the terms of your contract. It will just have to give you 45 days' notice. It's still possible for an issuer to assess a fee when you go over your credit limit - but only if you indicate that you want to be able to go over your credit limit in the first place, instead of having your card denied at the point of purchase. Companies can still set minimum required payments however they see fit. But they'll be required to tell...
...changes would be more heavy-handed. Those phone-payment fees would be prohibited outright (unless a customer asks for expedited service, a genuine additional cost which the card company would be allowed to pass along). It could also be substantially harder to market or sell credit cards to young people (those under either...
...most part, the bill before Congress isn't about changing the game on card companies. It's about creating a fairer set of rules to play...