More On GAO Study Of Credit Card Fees
Marcy Gordon writes for the Associated Press about yesterday's release by the Government Accountability Office of a study into the fees, interest rates and disclosure practices of 28 popular credit cards. Gordon reports on the findings that consumer disclosures explaining fees have "various weaknesses that reduced consumers' ability to use and understand" them. The GAO found that "the disclosures are written in language that is hard to understand, bury important information in text, fail to put related material together and use small typefaces."
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