First it was the United States. Now it is Mexico with new credit card laws. In May, Mexico’s Senate approved a proposal to curb hefty credit card interest rates and limit account maintenance fees and other bank charges. The country’s lower house has yet to vote on the legislation.
Emerging markets is the name given to developing countries. However, many of these countries are not governed by stupid people. Legislators in developing nations see what is bad for the UK and US, and clearly can adopt some of the same laws. Good for them.
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