Experience Stern | News & Events

Excerpt from US News & World Report -- "An academic study on the CARD Act found that the legislation’s limits on fees reduced borrowing costs to consumers overall by 1.7 percent a year, and had a still more dramatic impact for borrowers with lower credit scores; people with credit scores below 660 saw their borrowing costs go down by 5.5 percent. All in all, this study found an even larger impact than the CFPB report, calculating that fee reductions as a result of the CARD Act have saved consumers a whopping $12.6 billion per year."

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