The new rules for credit card charges are a great step in the right direction; back to the logical arrangement that “a deal is a deal.” I suppose that now we will also go back to the annual charges for card use. No company wants to be first with that move, but they all want to do it to counter the effect of nonvariable rates on existing debt.
I hope the credit card changes inspire the same sort of changes to mortgage debt. There is no reason we can’t require “a deal is a deal” rules and not allow mortgages to have variable rates.
Richard T. Brown