Newsroom Releases

FOR IMMEDIATE RELEASE

What you should know about new federal credit card protections
Pioneer Services analyzes what the CARD Act does and doesn't do

KANSAS CITY, Mo. (Mar 17, 2010) In an effort to simplify credit card disclosure and billing practices, and to help consumers better understand the pros and cons of using credit cards, last year Congress passed the Credit Card Accountability and Disclosure (CARD) Act. While the CARD Act, which went into effect on Feb. 22, 2010, will help most consumers, there is still confusion over what the law actually does, including its impact on rate changes and fee structures.

To assist consumers, Pioneer Services, a Division of MidCountry Bank, has created an article with tips and information about the CARD Act and how credit card users will be affected. The article, entitled "New federal credit card protections: what you really need to know," highlights the key points, as well as other provisions that won't necessarily show up on your next statement, but are integral to how your account will now work.

"While the CARD Act does provide some new protections, credit card users need to be aware of certain billing practices and expanded issuer charges or fees that may not be as obvious," said Laura Stack, chief financial officer for Pioneer Services and author of the article. "If you're a credit card holder, the best thing you can do is educate yourself about these new rules. In the end, it's up to each of us to make sure we use credit cards in a responsible manner."

Pioneer Services, the military banking division of MidCountry Bank, provides financial services and award-winning education to members of the Armed Forces. For more than 20 years, Pioneer Services has been a leader in military lending, offering military loans and award-winning financial education programs through a network of offices and on the Internet. Pioneer Services is proud to support military families and communities through a variety of partnerships, programs, and sponsorships.

For more information visit www.PioneerServices.com. For loan information, visit PioneerMilitaryLoans.com.

###

Scott Cahill
Public Relations, Pioneer Services
media@pioneerservices.com
ph: 816-448-2300
fax: 816-561-9333


All loan applications subject to our credit policies. No official US military endorsement is implied. MidCountry Bank is a member FDIC.


###
Share
###

You can also visit our press kit for more information about who we are and how we serve those in uniform.

Members of the media - please visit Pioneer Services' media page.

The timing of these postings is made at the discretion of Pioneer Services. Readers should not assume that the information contained on this site has been updated or otherwise contains current information. Pioneer Services does not review past postings to determine whether they remain accurate, and information contained in such postings may have been superseded.