Signed into law on May 22, 2009, the Credit CARD Act has benefited millions of households in ways that directly affect their monthly budgets. Demos' 2012 National Survey on Credit Card Debt of Low- and Middle-Income Households finds that the Credit CARD Act empowers Americans to take control of their finances by increasing the transparency of credit card statements and dramatically reducing unfair and excessive fees and penalties. New estimates show that the CARD Act has saved U.S. consumers $50.4 billion, or $12.6 billion a year, in fees alone.
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- Copyright 2014 Demos: A Network for Ideas and Action.
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