Your Credit Card Bill of Rights Kicks In Today

Austan Goolsbee of President Obama's Council of Economic Advisers talks about the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 - also known as the Credit Card Bill of Rights - which the President signed in May and which starts kicking in today. Watch the video to get a taste of the types of credit card headaches you won't have to deal with anymore.

Video from the White House

Category:

News & Politics

Tags:

• Credit
• card
• creditcard
• mastercard
• visa
• interest
• ripoff

[jaijoedougwatt]

Thanks for giving the credit card companies a grace period during which they raised our interest rates to outrageous levels. You really protected us there.

While you're patting yourself on the back, Mr. Goolsbee, why don't you think about whether we're all foolish enough to think the public got the best deal in this legislation rather than the credit card companies. Think hard.

[trynity06]

It's too bad that the credit card companies had enough time to use those practices to raise rates on all the credit cards they could before this went into effect. Almost all of my credit card rates jumped to ridiculous rates within the last two weeks!

[chewbaca1989]

Ghoulsby? Ghoul?

CARD act, sounds harmless? Like I don't know maybe the Patriot Act? Stimulus Legislation? Cap and Trade, and Health Care Reform. How about you Feds just work like ONE month out of the year?

Haven't you maniacs done enough?

Ghoul, name fits.