The Hill News

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 predatory practices in the credit card industry. Three years ago today, President Obama signed the Credit Card Accountability Responsibility and Disclosure Act (Credit CARD Act) into law. Evidence of its effectiveness and success at saving American families money continues to roll in.
 
Demos’ 2012 national survey of low- and middle-income American households who carried credit card debt for three months or more is an in-depth look at how the recession and its aftermath affected the financiallives of American households â€" including how the passage of major new consumer credit card protections is helping households pay down balances faster and avoid fees.

Read more...