Credit Card Reform and Bankruptcy Reform

Norton Bankruptcy Law Adviser, No. 10, p. 1, October 2009

13 Pages Posted: 4 Mar 2010 Last revised: 4 Sep 2012

See all articles by Michael Simkovic

Michael Simkovic

USC Gould School of Law; University of Southern California - Marshall School of Business

Date Written: October 1, 2009

Abstract

Consumer advocates won a victory with the passage of the Credit Card Accountability Responsibility and Disclosure Act of 2009. (Credit Card Act). The Credit Card Act bans certain pricing practices that were confusing to credit card users. Ironically, the seeds of this legislative victory may have been sown through an earlier legislative defeat - the Bankruptcy Abuse Prevention And Consumer Protection Act of 2005 (BAPCPA). In passing the Credit Card Act, the U.S. Congress Joint Economic Committee cited a study of the effects of BAPCPA on credit card industry profits and prices. The study revealed that the credit card industry may have misled Congress about the probable effects of BAPCPA. The complete and final version of this study was recently published in the American Bankruptcy Law Journal. What follows is a summary.

Keywords: credit card, bankruptcy, reform, regulation, consumer protection

JEL Classification: A1, B4, D1, D2, D4, D6, D8, D9, E4, E5, G21, G28, K00, K12, K2, L1, L2, L4, M2

Suggested Citation

Simkovic, Michael, Credit Card Reform and Bankruptcy Reform (October 1, 2009). Norton Bankruptcy Law Adviser, No. 10, p. 1, October 2009. Available at SSRN: https://ssrn.com/abstract=1563456

Michael Simkovic (Contact Author)

USC Gould School of Law ( email )

699 Exposition Boulevard
Los Angeles, CA 90089
United States

University of Southern California - Marshall School of Business ( email )

701 Exposition Blvd
Los Angeles, CA 90089
United States

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