Government Report on Credit Card Interest Rates, Fees, and Consumer Disclosures
The United States Government Accountability Office (GAO) has issued a report that examines the interest rates, fees, and penalties of major credit card issuers. The title summarizes the conclusion of the report, “Credit Cards: Increased Complexity in Rates and Fees Heightens Need for More Effective Disclosures to Consumers.” The basic finding of the report is that the average consumer does not understand the interest rates and fees associated with their credit card account, and the (Click to continue reading this post…)