CARD Act

At first, the University of Chicago economist didn’t think credit card regulation could possibly work.  “I went into the project with this sort of conventional wisdom that well-intentioned regulators would force down fees and that other fees and charges would increase in response,” explained...
05/21/2014
Blog
Credit cards can be a useful stop-gap until payday, but when paychecks aren’t enough to cover the basics and balances roll over, credit cards become an expensive way to make ends meet.  Past research from Demos shows that 40 percent of indebted low- and middle-income households have used their...
12/06/2013
Blog
Matt Phillips at QZ reports on, “the most important change in the US economy since the Great Recession—that nobody is talking about.” The change is the drastic decline in credit card debt among American consumers. This decline, Phillips notes, can be largely credited with the CARD Act which Demos...
11/12/2013
Blog
The CFPB released a report this week that should serve as a reminder of what a functional Congress could accomplish. The report highlights the ways in which the 2009 Credit CARD Act has succeeded. Their findings: Late fees must be be reasonable and proportional to the violation of account terms,...
10/04/2013
Blog
A national research firm says a recent survey of low and middle income consumers indicates the2009 Credit Card Accountability Responsibility and Disclosure Act is helping consumers reduce their credit card debt load. The national research firm DEMOS said one third of households surveyed reported...
05/23/2012
News/Resource
On the third anniversary of the Credit Card Accountability Responsibility and Disclosure Act being signed into law, the average debt has declined, but many Americans are still using credit cards as a way to cover basic living expenses, according to a national survey from the policy center Demos....
05/23/2012
News/Resource
The economy may be growing again, but many Americans are still in a cash crunch. In the past year, 40% of low- and middle-income households used credit cards to pay for basic living expenses, such as rent or mortgage bills, groceries, utilities, or insurance, according to survey released Tuesday by...
05/22/2012
News/Resource
  Medical bills are a leading contributor to credit card debt, a new survey finds. Nearly half of low- and moderate-income households carry debt from out-of-pocket medical expenses on their credit cards, the survey found. The average amount of medical debt on credit cards was $1,678. Demos, a...
05/22/2012
News/Resource
With anti-regulatory fervor gripping Washington, it’s difficult to imagine both parties working together to enact successful public safeguards that protect Americans. But it wasn’t that long ago that strong, bipartisan majorities in both the House and Senate took action to defend consumers against...
05/22/2012
News/Resource
Demos Issues Statement on CARD Act and Upcoming Financial Regulation Debate; Publishes Background Paper on Consumer Financial Protection Agency WASHINGTON — This week, even as the reforms of the CARD Act take effect, reports show that credit card issuers are implementing a wide range of new...
02/24/2010
Press Release
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