CARD Act, Debit Card Rules & New Credit Score Legislation Survey Results
Credit.com May 2010 Survey The Credit Cardholders Bill of Rights is now law, but according to Credit.com's latest survey, more than 43% of consumers (also 43% in February) said their card company still made one or some combination of the following changes to a credit card account:
Debit Card Overdraft FeesThis summer a new ban on overdraft fees on debit cards and ATM transactions will become law. A new survey by Credit.com found that more consumers would consider "opting in" to overdraft protection just avoid the possible embarrassment of being declined at the register for not having enough money to cover their purchase.
Fair Access to Credit Scores ActIn light of the new push by lawmakers to give consumers better access to their credit score, Credit.com's survey found that 1/2 of consumers have either never checked their credit report or haven’t checked it in more than a year. The study found:
Pre Employment Credit ScreeningEmployers have the right, with your permission, to check your credit report as part of background screening for employment. A number of lawmakers are interested in banning this practice. A new survey from Credit.com found the following:
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