It looks like the latest credit reform bill is going to become law. I've read through the law and it really sounds fair to me. What always surprises me is when people make comments similar to those contained in this BBC News article, "the industry has warned that the measure could backfire, leading banks to issue fewer credit cards thus making it harder to get credit". I'm failing to see the problem. Many people do have too much credit.

Now I'm not against credit. It's certainly a useful financial tool, without which I likely would not own my own home. But it needs to be done wisely, and that's a challenge when credit companies get to write all the rules such as when you can go bankrupt. This bill will equalize the system and hopefully stem some of the nonsense going on.