The Huffington Post does a nice job of explaining it;
SERVICE FEES
THEN: Banks could charge as much as they wanted. They could assess annual fees, activation fees and other fees. This was mostly a problem for subprime cards marketed to those with poor credit scores. One popular card, for example, the Premier Bankcard, charged $256 in first-year fees for a $250 credit line.
NOW: Service fees, such as activation and annual fees, will be capped at 25 percent of the credit limit during the first year of use. After that, there is no cap.
There is a lot more of this kinds of crap throughout the legislation. Seems like the CC industry will be doing just fine for a very long time.
UPDATE: On a similiar note, fellow SF Cartoonist John Daiker has entered a cartoon contest (his entry below) you can vote for him HERE.
