Contributing Member of the Financial & Business Services Councils

GLG News by this Author

GLG News is now G+ Insights

G+ is a community for professionals, academics and entrepreneurs to connect through online discussions and in-person meetings. You will continue to see G+ Insights (formerly GLG News) here as well as on the G+ website, where you can share and discuss the G+ Insights you read.

The Impact of the U.S. Credit Card Bill of Rights Act of 2008 to Credit Card Companies, Lending Institutions and Banks.

June 10, 2009

Analysis of:Credit card bill not all good for consumers | www.guardian.co.uk

The new Credit Card Bill of Rights Act of 2008 will have a limited impact on the credit card industry.  So long as the credit card companies, lending institutions and banks are forthright in the rates that they are charging they will continue to reap profits due to their practice of how they charge interest.  Only the consumer can affect the credit card companies and other lending institution by becoming informed and choosing not to use the cards that have high rates and “universal default” clauses. 

Implications of the Credit Card Bill of Rights Act of 2009 legislation Requirement on Capital One and Other Credit Card Companies

June 10, 2009

Analysis of:Capital One Looks to Adapt to Credit Card Laws | www.washingtonpost.com

Capital One and other credit card companies will not be able to make up the lost fees directly from the new card act.  This will be due in part to the stringent requirements on new fees implementation.  While the new bill does address some much needed reforms in the industry, it does not address the issue of accrued interest and interest rates.

Page : 11 to 2 of 2