by Zach Carter, TMC MediaWire Blogger

President Barack Obama is scheduled to unveil his agenda for revamping financial regulation later this week. As the economy struggles though a recession created by the banking industry, it's crucial that Obama and his advisers craft a set of rules ensuring that the financial sector strengthens our economy instead of destroying it.

U.S. President Barack Obama has told America's credit card industry to stop the abuse: He's calling for an end to unfair credit card interest rates.

In Canada, both the House of Commons and the Senate are looking at credit card reform. But unlike in the U.S., our top political leader, Prime Minister Stephen Harper, has offered no leadership on the issue.

The NDP has tabled a motion calling on the federal government to bring 'credit card relief' to Canadians.

They have the support of the majority of Canadians. According to a new Environics Research poll, 82% of Canadians agree with tighter credit card regulations. And for good reason.

by Zach Carter, TMC MediaWire Blogger

Some of the largest U.S. banks may be on the ropes these days, but the disparity between the plight of financial executives and ordinary Americans has never been starker. Over the past two decades, the banking system has grown accustomed to scoring massive profits by preying on its own customers, making 2009's transition to pilfering taxpayer wallets an easy one. After burying the economy under a mountain of unaffordable debt, bank CEOs are now finding ways to subsidize their own paychecks with taxpayer bailout funds.