I’ll be talking about the new CARD Act: which has special provisions to protect college students ,
among other rules designed to halt abusive practices of credit card companies:
*retroactive rate increases *late-fee traps (like moving the due date around from month to month) *some hidden fees, *double-cycle billing (calculating interest based on last month’s balance), and *new disclosure and accountability requirements.
Shoutout goes to the PIRGs for tirelessly pursuing this important bill among a variety of other issues affecting both college affordability and Americans’ precarious financial security.
