New Credit Card Laws..anyone???

Ok so has anyone else been getting letters from their CC companies in the last few months saying stuff like due to the new credit card law (there is some official name for it) they are amending the agreement. So as of Feb 22, 2010 your new interest rate will be blah blah and your min payment will now be 2% of the balance. And then it says something about how they can't charge over the limit fees and they are extending the billing periods. It is some legal jargon that goes on and on and frankly I really can't read between the lines of what it is all saying. We have called on them and we are told basically are interest rate is going up and min payment is doubling and we can cancel the card on those terms. My question is if I am going to DIY debt settlement anyways and I cancel the cards so I am at a lower interest does it help me? Or does it matter b/c they will raise my rate anyways when I become delinquent? I wonder too if there is any benefit to just waiting to start this debt settlement after 2/22...has anyone else received these letters? One rep said it is all happening because of the new law congress has put into motion that happens later this year. Anyone else understand this?