Credit CARD Act

Today the Consumer Financial Protection Bureau (CFPB) released its annual assessment of the CARD Act, a landmark 2009 credit card reform bill. Before the legislation went into effect, banking industry lobbyists argued that the regulation would inevitably raise credit card rates, choke off the...
Demos applauds the release of a Consumer Financial Protection Bureau (CFPB) report that underscored the continuing success of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). The CFPB found that, as a result of the Act: Late fees must be be reasonable and...
Press Release
“I can afford to get ripped off,” Stephen Colbert informed Demos’ Tammy Draut back in May 2009 “I think it’s the poor people who can’t afford to get ripped off who are ruining this for everybody.” The joke hit the mark, but Comedy Central’s satirical...
Some hangovers last longer than others -- holiday spending hangovers, for example. As of last October, according to a recent poll by Consumer Reports, fully 6 percent of Americans -- 14.1 million people -- were still paying off credit card purchases from the 2010 holiday season. ...
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