Business Insider Article on CARD Legislation
Although there should be celebrations about the Credit CARD Act that went into effect on Monday, there is still much work to be done. The Business Insider quoted AFFIL in a recent article about the loop holes that still exist even after the recent legislation.
So what can be done? The call for the creation of the CFPA needs to be even louder now. The CARD Act has gotten the ball rolling on the reform movement, but it is not enough. The CFPA would fill in the holes for regulation and monitoring that are still missing.