Congratulations to Mathew Gauvin Winner of the 1st Annual Consumers Union Dangers of Debt Cartoon Contest! To participate in the 2nd annual Dangers of Debt contest click here!
A comprehensive credit card law is in place which will help end the tricks that trap consumers in high cost credit card debt. A few provisions went into effect in August 2009, and most major provisions went into effect on February 22, 2010. Banks will probably continue to come up with new practices to switch things up within the bounds of the law so tell us what's been happening to you!
The new credit card law creates the following consumer protections:
Click here to read a full summary of the Credit Card Legislation.
Read the Federal Reserve Board's Tips on the new Credit Card Law.