Credit Card Reforms Take Effect Today
The Credit CARD Act of 2009 takes effect today, ushering modest but real credit card protections.
The nonprofit Consumers Union lists some of the major provisions that have kicked in, including curbs on raising interest rates, double billing, and fees.
TARP watchdog Elizabeth Warren told Bill Maher on Friday, however, that more is needed to protect the public from financial sector exploitation and reiterated calls for a consumer financial protection agency. (Watch a clip from the show.)