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Anya Kamenetz and Diane Sawyer Talk Credit Card Bill of Rights

Posted By dpacheco On February 23, 2010 @ 11:34 am In Politics & Social Justice | No Comments

The new credit card consumers bill of rights went into effect yesterday. The new legislation will put a stop to some of the more egregious practices perpetrated by the credit card industry—at least, until they can worm their way through the loopholes. (In fact, some banks have already preemptively raised their rates [1] to get around some of these regulations.)

Author Anya Kamenetz [2] (Generation Debt, DIY U: Edupunks, Edupreneurs, and the Coming Transformation of Higher Education [3]) explains what this means for you the consumer on ABC World News with Diane Sawyer.

The new credit card consumers bill of rights, signed into law by President Obama, takes effect today. Its goal is to give consumers more protection against credit card policies.The measure mandates that credit card companies need to give 45 days’ notice before an increase in interest rates. It also puts more restrictions on issuing credit cards to students.

Read the whole article here. [4]

 

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Article printed from Chelsea Green: http://www.chelseagreen.com/content

URL to article: http://www.chelseagreen.com/content/anya-kamenetz-and-diane-sawyer-talk-credit-card-bill-of-rights/

URLs in this post:

[1] preemptively raised their rates: http://articles.sfgate.com/2010-01-10/opinion/17823302_1_card-rates-credit-card-accountability-credit-rating

[2] Anya Kamenetz: http://www.chelseagreen.com/authors/anya_kamenetz

[3] DIY U: Edupunks, Edupreneurs, and the Coming Transformation of Higher Education: http://www.chelseagreen.com/bookstore/item/diy_u:paperback

[4] Read the whole article here.: http://abcnews.go.com/WN/conversation-credit-card-bill-rights-101/story?id=9910468

[5] “Commencement”: An Excerpt from DIY U: http://www.chelseagreen.com/content/commencement-an-excerpt-from-diy-u/

[6] What’s a Degree Really Worth? The Million-Dollar Misunderstanding: http://www.chelseagreen.com/content/whats-a-degree-really-worth-the-million-dollar-misunderstanding/

[7] DIY U: Welcome to the Communiversity: http://www.chelseagreen.com/content/diy-u-welcome-to-the-communiversity/

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