The New York Times commentator Floyd Norris reports on a study that found that a federal law called the 2009 Credit Card Accountability Responsibility and Disclosure Act--which requires more transparency on the fees credit card companies collect from their customers--actually worked. The researchers expected to find that, if credit card companies couldn't charge those fees anymore, they would start charging customers more interest or reduce consumers' access to credit. But what the study found: "It cut down the costs of credit cards, particularly for borrowers with poor credit."
Lawyer and Legal Journalist
