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“We do like $5…you know, our average sandwich runs from 5 to 6 bucks, so we say like $5.”

These merchants are talking about minimum purchase requirements for credit and debit cards.

Formerly against the rules. But soon to be allowed, thanks to the financial regulatory reform law.

So the new slogan may be "Cash...don't leave home without it." That's one way financial reform could hurt you.

Plus, banks won't be making as much from debit cards any more. Which means they'll be less likely to sponsor rewards programs. That's another way you might lose.

Next? Mortgages. New rules mean fewer sub-prime problems by eliminating things like prepayment penalties and stealth fees.

Great. But that's a double-edged sword. Because it also means loans could be harder to get and more expensive. You might also need a bigger down payment.

Reform bashes banks in many ways, from limiting their derivatives trading to lowering their overdraft fees. Downside? Many will try to make up for it by eliminating things like free checking.

Bottom line? Depending on your borrowing and spending habits, it's possible this new law could cost you. But it will also put money in your pocket. I've got four specific ways you'll save and they're right here at MoneyTalksNews.com.