Morris Segall, president of the Baltimore-based economic consulting firm SPG Trend Advisors, said he has been pressing Maryland legislators to back the sweeping restrictions on the industry for the past year.

His passion for the change began when he encountered his own problems with a major credit-card company and saw firsthand how other consumers would be victimized during this credit cycle.

Segall said the new credit-card regulations are vital reform to an industry that is psychologically damaging to consumer confidence.

"You have people sitting on cash," Segall said. "The economy is sitting on empty until we get back to spending. But the consumer, he's absolutely petrified by these credit-card companies if he defaults or makes a late payment."

Full Story: http://www.hometownannapolis.com/news/top/2009/06/01-19/Credit-card-law-seeks-to-protect-consumers.html