President Obama issued a statement today regarding the implementation of the Credit Card Bill, which he signed into law last spring. Read the full text after the jump.Today, the major reforms of the Credit Card Accountability, Responsibility and Disclosure Act that I signed into law last spring take effect, marking a significant turning point for American consumers. For too long, credit card companies have had free rein to employ deceptive, unfair tactics that hit responsible consumers with unreasonable costs. But today, we are shifting the balance of power back to the consumer and we are holding the credit card companies accountable.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=130276