7 On Your Side
Consumer Bureau tries to simplify credit card language
Anyone who's ever bothered to read a credit card agreement knows they can be difficult to understand.
The new Consumer Financial Protection Bureau is testing out a new agreement written in plain language.
It's being tested at one of the nation's largest credit unions -- the Pentagon Federal Credit Union.
A recent study found two-thirds of credit card users say they don't completely understand their credit terms.
The hope is if the language is more clear, consumers will not only know what their rights and privileges are, but they'll be able to shop around and look for the best deal and be able to compare card to card.
credit cards, consumer financial protection bureau, 7 on your side, michael finney
- Crews demolishing building in Mission Bay fire
- Parents discuss Oakland school assaults with police
- Man looks to move forward after Peninsula boat crash
- South Bay hospital top notch for treating strokes
- Fairfield man arrested for biting off infant son's nose
- City College San Francisco protests lead to arrests
- Stockton Tunnel reopens after water line break repaired
- 2 men arrested for possessing explosives
- Baby kangaroo makes debut at zoo in Sydney
- Unexpected backlash after CPSC recalls Fitbit Force
- 5 things you may not know about Pope Francis
- Photos: Meet the stars where you live
- roundup: Vacaville police chief; South Bay fireworks
- weather: Bay Area weather forecast for Friday