YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
A study on the impact of the 2009 Credit Card Accountability Responsibility and Disclosure Act, which was designed to protect borrowers from hidden fees, estimates the law is saving consumers $20.8 billion a year.
A researcher who believed the study would show the law, known as the CARD Act, would lead to the implementation of new fees, said the study found no evidence of an increase in interest rate charges or reductions to access credit, according to the New York Times.
The researcher said the study is causing him to rethink his understanding of regulating financial products.
Read more from the New York Times.
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