Credit card debt: Applying CARD Act principles to personal debt
Posted on February 27th, 2011 by Abby Gloucester
The newly formed government agency, U.S. Consumer Finance Protection Bureau, reports that the Credit Card Accountability, Responsibility, and Disclosure (CARD)Act has caused the U.S. credit card industry to revise policies while reducing and eliminating some penalty fees. Highlights of the report include: Over-limit fees have all but disappeared. Prior to the CARD Act, 15 percent [...]