credit card law

Despite new credit-card law brings some relief, the problems still arise.

It’s known, credit-card holders mostly benefited from the landmark Credit Card Accountability, Responsibility and Disclosure Act that initially went into effect a year ago. However, some troubling trends that are emerging could mean higher costs for consumers.

As the new credit card legislation comes into effect starting February 22, the Federal Reserve has created a new website that helps consumers better understand the protections provided under the new law.

On the website consumers will find a collection of main points of the rules along with explanations on how these rules affect cardholders. By means of two interactive features on the website users will learn more about the terms and fees of credit card offers as well as new features introduced to their monthly statements.