PEW Finds the CARD Act Helps Consumers

Source: The PEW Foundation

Pew Finds Credit CARD Act Will Save Consumers Billions

Washington, DC - 02/16/2010 - The Credit CARD Act of 2009, with major provisions taking effect this month, will save American cardholders billions of dollars by banning unfair or deceptive practices, according to research from the Pew Safe Credit Cards Project.  Just two of these practices – retroactive rate increases and “hair-trigger” penalty interest rates – were costing U.S. consumers a minimum of $10 billion per year.

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