New Credit Card Law Takes Effect

http://www.cambridge-credit.org -- The Credit Card Accountability Responsibility and Disclosure Act, or CARD Act, of 2009 has literally changed the credit card game for all of us. The Act is the most comprehensive credit card reform legislation that has ever been enacted and strives to establish fair and transparent creditor practices. While some of the provisions have already gone into effect, several more important changes are set to take place on February 22, 2010. Watch this week's webisode from Cambridge Credit Counseling Corp. to learn more. Host: Community Outreach Director, Thomas J. Fox.

Category:

Nonprofits & Activism

Tags:

• CARD Act
• Cambridge credit counseling
• over limit fees
• universal default
• interest rates
• debt
• credit cards

[loralunden]

Thank you so much for the information and kudos to whoever is trying to get them in line!

[CambridgeCredit]

@loralunden You are most welcome. Thank you for viewing.

[Audioman45]

Great video with a great summary of these laws!

[CambridgeCredit]

@Audioman45 Thanks. Glad you found it useful

[77sporty]

the banks are crooks the politicians are crooks.  burn your cards. use debit cards. if your don't have the money to buy some thing you can't afford it.

[JPHET37]

Beware people credit cards company will charge you an outrageous late fee of $35 if you make an oline payment on a due date and it will not be postpone until the next day. There is no grace period for hard working people like us and with that $35 I can buy an xlarge pizza for a weekend meal. So people watch out for your money don't let credit card companies thugs rob your money.

[TheTomidu]

Great info......BUT why do you keep turning; stupid. 

[thatotherrobot]

This is how it should have been for decades. We need to regulate the credit industry! Banks have been feeding off of our debt for way too long! We aren't valued convenience users... we're are a flock of mindless sheep who are easily distracted by offers and rewards, and are slaughtered by the knife of interest rates, usury, and inequality. Debtors! Don't be ashamed for trying to make ends meet! Blame the unregulated industry!