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Your Credit Card Bill of Rights Kicks In Today

August 20, 2009 at 12:25 PM ET by Jesse Lee

Summary:

Austan Goolsbee of President Obama's Council of Economic Advisers talks about the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009

You probably aren’t used to seeing headlines like this come out of Washington:

"Consumers to benefit as credit card law debuts" (Reuters)
"Upcoming credit card changes can help you take charge" (Dallas Morning News)
"Credit card relief: Phase one" (CNNmoney)
"Card Users, Take Heart: One Penalty Is Vanishing" (New York Times)

Austan Goolsbee of President Obama's Council of Economic Advisers talks about the Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009 - also known as the Credit Card Bill of Rights - which the President signed in May and which starts kicking in today. Watch the video to get a taste of the types of credit card headaches you won't have to deal with anymore.

download .mp4 (29 MB)

Goolsbee did a thorough interview on this legislation around the time of the signing with the Consumerist, for more information go check it out.