Consumer awareness of card changes revealed in CFA/CUNA study

WASHINGTON (2/5/10)--The level of consumer awareness of protections offered by new credit card requirements, mostly going into effect Feb. 22, is revealed in a fresh survey conducted by the Credit Union National Association (CUNA) and the Consumer Federation of America (CFA), the results of which will be released during a press conference Monday, Feb. 8 at 10 a.m.

The Credit Union National Association (CUNA), along with the Consumer Federation of America, on Monday will detail just how much consumers know about the protections imposed by the Credit Card Accountability, Responsibility and Disclosure Act, announcing the results of a recently completed survey at 10 A.M. ET at the National Press Club in Washington.

CUNA Chief Economist Bill Hampel and Consumer Federation of America Executive Director Stephen Brobeck will disclose the results of the survey and will also offer tips for prudent consumer credit card use.

The survey, which was conducted between Jan. 29-31, reveals consumer awareness of recent changes to the terms of lines of credit, interest rates, fees, and other terms of credit account agreements. The survey also asked whether or not consumers acted as a result of these changes.

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