ENDLESS DEBATE: Most Americans "strongly favored" regulation of credit cards five years ago, former Rep. Brad Miller, D-N.C. (left), says. The CARD Act's benefits came with "significant tradeoffs" such as higher payments for some customers, says the ABA's Nessa Feddis. However, the act "banned unfair practices" such as excessive fees and shortened billing cycles, says Ed Mierzwinski of U.S. Public Interest Research Group.
Five Years Later, Banks Come to Terms with CARD Act
MAY 22, 2014 1:12pm ET
The 2009 law that restricts a range of fees and practices has become the devil you know for the credit card industry.
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