Credit cards are one of the most common purchasing tools used by Americans, with many households relying on credit cards to pay for basic living costs. In the past, credit card companies took advantage of this reliance by engaging in unfair and deceptive practices such as complicated pricing and high fees.

This chapter describes these abusive practices and the reforms instituted by the Credit CARD Act of 2009. These reforms made credit card pricing clearer and banned many deceptive practices, without leading to higher interest rates or reduced access to credit.

Read this chapter below or download the full report.


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