Posts Tagged ‘Obama’
Even though I rarely use credit in the check out line, credit card debt is part of my life. I can’t say that I completely understand my monthly statement (I just pay it) but hopefully the next one will make more sense. I’m optimistic because new Federal Reserve Board rules that require credit card companies to be clear with consumers go into effect today.
In May 2009, President Barack Obama signed the Credit Card Accountability, Responsibility,
and Disclosure Act of 2009 (also called the Credit CARD Act).
The law is considered to provide the most sweeping changes in card
protections for consumers since the Truth in Lending Act of 1968. Some of the new law went into effect in August.
My Administration is committed to creating an unprecedented level of openness in Government. We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote efficiency and effectiveness in Government.
Government should be transparent. Transparency promotes accountability and provides information for citizens about what their Government is doing. Information maintained by the Federal Government is a national asset. My Administration will take appropriate action, consistent with law and policy, to disclose information rapidly in forms that the public can readily find and use. Executive departments and agencies should harness new technologies to put information about their operations and decisions online and readily available to the public. Executive departments and agencies should also solicit public feedback to identify information of greatest use to the public.