When President Obama signed the Credit Card Accountability, Responsibility and Disclosure Act into law, a number of credit card companies went on the defensive, predicting annual fees, reduced through-periods, and other expenditures focused on the client. Enter two doctoral students at Harvard, Ryan Bubb and Alex Kaufman, who say in their recent New York Times op-ed piece that's just not. Or at least if credit unions are an example, then the future for credit card companies and their customers, will not be all bad. The two economists have compared the proposals of CCARDA how credit unions dealing with credit cards, and found that credit unions are a good model for how credit card companies must act the future. Their conclusion? If employees of credit unions can make it work (and they do), and profit businesses credit card also.
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