Long-time credit card industry analysts have watched the business of lending turn itself upside down since the inauguration of President Obama. Consumer frustration over high credit card rates and fees have combined with lawmakers’ willingness to tap into populist financial ideas. As a result, unprecedented credit card regulations have been slated to take effect in early 2010 that change the ways that credit card companies earn profits. Therefore, banks and private lenders once eager to trickle interest charges from customers over long periods of time have suddenly become eager for cardholders to pay down their debt.
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