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U.S. consumer watchdog says 2009 law reduced credit card fees
Reuters: The total cost of credit card fees and interest payments to U.S. consumers fell and charges for going over allowable credit limits effectively disappeared after a 2009 law cracked down on the market, according to a report released on Wednesday.
The U.S. Consumer Financial Protection Bureau's first report on the so-called CARD Act said costs are easier to understand and consumers are better protected from credit cards they cannot afford than they were before Congress passed the law.
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