Last week the last provisions of what's known as the Credit Card Bill of Rights took effect in Ohio and across America. It puts an end to credit card companies imposing unexpected interest rate hikes, ridiculous late penalties and hidden fees. And the reforms don't stop there. The law Congress passed last year also tackles gift card practices that have hurt consumers. A lot of the new transparency though is still written in fine print and some companies took some preemptive strikes, jacking up interest rates just before the new rules took effect.

Guests

Sheryl Harris, Consumer Columnist, The Plain Dealer

Nick Bourke, Director of the Safe Credit Cards Project, Pew Charitable Trusts

Nessa Feddis, Vice President and Senior Counsel, American Bankers Association