Because now that all the credit card companies are allowed to operate from North Dakota, they're free to charge 79.9% interest rates and change the terms whenever they please. http://www.usatoday.com/money/perfi/cred…
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This is really a ploy so that insurance companies don't have to comply with state laws about coverage and responsibility, I live in NY, and my insurance co is in Texas, they call themselves a discount plan, not an insurance plan. That way they don't have to worry about the consumer protections I had when I had an employer provider plan. I had to fight Aetna to get an operation done in a way I needed, the State Insurance board went to bat for me and four months later I had it done and paid for by the insurance company. They actually admitted that the operation was well within their own guidelines. The reason for denial was never made clear..my guess is that they were just hoping I'd give up. I can't do that with this out of state plan. So how will it affect health care? It will put us more at the mercy of the merciless.
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