CARD Act to Benefit Consumers

Today, the second phase of the Credit Card Accountability, Responsibility and Disclosure (yes, CARD) Act takes effect. Pew Charitable Trusts estimates that the act will save consumers at least $10 billion a year.

A quick summary of the act’s relevant provisions, along with Pew Charitable Trusts’ recommendations to the Federal Reserve for implementation of the third and final part of the act on August 22, is available here.

Published in: on February 22, 2010 at 4:16 pm  Leave a Comment  

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