Banks, Credit Card Issuers Find Ways to Get Around CARD Act

Courtesy Digg - Business & Finance  Mon, 02/15/2010 - 17:30

The new rules, which go into full effect Feb. 22, threaten to take a big bite out of the $15 billion in penalties and fees the industry collects each year.

So what have banks and card issuers done? Come up with new fees. With a full 44% of U.S. households carrying a balance on their credit cards, the CARD Act was designed to protect consumers.

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