If credit cards could talk: "Reforms, what reforms?"

I know everyone is going to be shocked to hear this, but according to Business Week's recent article, "Dodging Credit Card Reform," the credit card industry is trying to find loopholes in the new regulations that took effect in August and will again in February. You could knock me over a feather.

Next thing I know you'll tell me that Jon and Kate are getting a divorce, or that professional wrestling is just entertainment. Credit cards are trying to exploit their customers? I think I need to sit down.

Here's the deal, if you're not aware. Last month, two of the reforms from The Credit Card Accountability, Responsibility & Disclosure Act of 2009 took effect.

From now on, if a creditor is going to increase your annual percentage rate (APR) or make any significant change, defined by the Federal Reserve Board, like raising your fees, they have to give you 45 days warning.