Changes in laws for 2006...

So I was listening to the news a few minutes ago. The newscaster referred to changes in credit card payments starting in 2006. Being unaware of pending changes, I decided not to wait for the newscast (will occur later in the news schedule) and hopped online to do some investigation myself. I discovered that starting in January, new guidelines set forth by the finance section of the government (including the Federal Reserve) will require credit card companies to increase the minimum payment consumers will have to pay. In most instances, depending on the credit companies policies for minimum payments, that amount will double. There is concern for consumer budgets because this is occurring immediately following the holiday shopping season. They are forecasting a rapid increase in delinquencies, bankruptcies, and people rushing to find alternate ways to get rid of their cards. I'm surprised these new guidelines haven't been publicized more prior to the holiday shopping season so consumers can reconsider how they pay for purchases!