It appears that the Federal Reserve is considering major changes to the regulations regarding credit cards:

The Federal Reserve on Thursday will vote on sweeping reform of the credit card industry that would ban practices such as retroactively increasing interest rates at will [the so called universal default]and charging late fees when consumers are not given a reasonable amount of time to make payments.

They are likely to kick down the road a proposal to require the banks to provide opt-out to the confiscatory fees for “overdraft protection”, as both banks and consumer advocates see the current proposal as “flawed”.