''The Customer Always Comes Last''

Opinion Read time:
''The Customer Always Comes Last''

"The credit card industry is working hard to subvert the Credit Card Act of 2009, which banned many of the industry's most predatory practices. The Federal Reserve Board, which oversees and coddles this industry, needs to ensure that consumers get the protections Congress intended, and Americans so clearly need.

The law's final provisions went into effect this week, and if they are vigilantly enforced, they should end many of the abuses that had become standard practice.

. . .

The Fed also needs to take a hard look at problems cited last month by the Pew Charitable Trust Safe Credit Cards Project. It found that despite the law's demands for more transparency, card issuers are still withholding important information. Companies are failing to disclose penalty interest charges, which could double or even triple the interest rate for cardholders who fall two months behind."

Full Article 

America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Quick View
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up

MORE FROM PEW

About a dozen people stand examining large blue bins full of whole fish in a warehouse. Some people are in green clothes, others in blue, and all wear ballcaps. A few hold clipboards. Reducing Risk Strengthens the Seafood Supply Chain
A worker in a seafood market dumps bright orange shrimp from a blue bin onto a bed of ice between a lot of other seafood laid out for sale. Other workers are visible in the background, as are the arms of shoppers placing orders from the other side of the ice bed. Seafood Industry Benefits From Greater Vessel Transparency
An aerial view of a vast wetland, with scattered vegetation visible on sandy islands. In Western Australia, a Conservation Model for the World
A presentation being given by a businesswoman to a group of participants at a business conference. Four Plan Features Can Boost 'Retirement Readiness'
Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics
Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?

Pills illustration
Pills illustration

What Is Antibiotic Resistance—and How Can We Fight It?

Sign up for our four-week email series The Race Against Resistance.
Quick View
Pills illustration

Antibiotic-resistant bacteria, also known as “superbugs,” are a major threat to modern medicine. But how does resistance work, and what can we do to slow the spread? Read personal stories, expert accounts, and more for the answers to those questions in our four-week email series: Slowing Superbugs.