Credit Card Reform Ignores Small Business

President Obama signed a credit card reform law that would protect cardholders from retroactive rate hikes and other less-than-scrupulous tactics, but this law does not apply to small business cardholders. This means that small business owners who rely on even a single credit card account will still be subject to the same tactics that the law aimed to limit.
 
The Credit Card Accountability Responsibility & Disclosure Act takes effect in February but it will only protect private cardholders. About 11 percent of all credit card purchases are made by small business credit cards, a number that has been on the rise …read more