Today's USA Today has a point-counterpoint on the proposed new credit card regulations. USA Today says: Our view on consumer protection: Feds take overdue first step to curb credit card abuses but urges caution, as the Fed often fails to follow through.

Not surprisingly, Ed Yingling of the American Bankers Association says: "Don't turn back the clock on the credit card market and reverse the advances that have led to lower costs and greater choices for cardholders."