The passage of the Credit Card Accountability, Responsibility and Disclosure (CARD) Act in May has prompted credit card industry representatives to make public statements that the changes will have a negative impact on consumers in the long run. In an op-ed article in "The New York Times," two Harvard doctoral candidates explored the credit card industry's claims and found they were largely unfounded.
Why? Because for years, credit unions have had card programs in place that are both member-friendly and profitable. In their article, the two authors conclude that the credit union industry's approach to cards gives consumers a better deal, something that's no surprise to PSECU cardholders.
You can read the full article on NYTimes.com