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Saturday, February 19, 2011

CREDIT CARD LAW AIDS TRANSPARENCY

CREDIT CARD LAW AIDS TRANSPARENCY


The Center for Responsible Lending, a nonprofit research group, released a report said that the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CreditCARD Act) has made billions of dollars in charges more transparent for consumers.  It is believed that this will help lower the costs of credit cards over the long term.  The report examines the impact of federal credit card rules on consumers one year after many of the new rules mandated by the CreditCARD Act were put in place. To recoup lost revenues, banks have rolled out new fees since passage of the CARD Act.  Click HERE to read the report.

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