Has the Credit CARD Act protected Gen Y consumers?
Category: Keeping Up With Gen Y
May 2, 2012 | BY Tamara Bell
It’s been two years since the Credit Card Accountability, Responsibility, and Disclosure Act went into effect. It was supposed to stop the predatory policies that banks were using to lure middle- and lower-income Americans, including college students, into deeper debt while lining their own pockets. But how successful has it been in helping Gen Y in changing attitudes about credit card usage and overcoming indebtedness?
Eboni S. Nelson, a University of South Carolina law professor, joins Keeping Up with Gen Y to break down the specifics of the CARD Act and how effective it has been in protecting the next generation’s financial futures. She also provides tips on how Gen Y can use credit cards wisely as well as how those in trouble can fix their credit problems now.
MORE ABOUT EBONI S. NELSON
Eboni S. Nelson, law professor, University of South Carolina
Eboni S. Nelson is a University of South Carolina law professor who teaches Contracts, Commercial Law, and Consumer Law. Her analysis of the Credit CARD Act of 2009 in protecting young consumers appeared in the April issue of the Banking & Financial Services Policy Report.
Prior to joining the faculty, she taught Commercial Law and Texas Consumer Law at Thurgood Marshall School of Law in Houston. Eboni’s interests include education law and policy, specifically the intersection of consumer law and education issues, and her scholarly articles have appeared in numerous legal journals such as the Utah Law Review, the Villanova Law Review, and the University of Miami Law Review.
Graduating summa cum laude from Wake Forest University, Eboni received her J.D. from Harvard Law School, where she served as a teaching assistant and tutor for law school classes. After graduating from Harvard, she practiced employee benefits in the Houston office of Bracewell & Giuliani, LLP.
You can listen to the show below or you can download it as a podcast from our iTunes page. And you can find us on WomensRadio.
Tags: college students, Consumer Financial Protection Bureau, Credit CARD Act of 2009, credit card industry, debt, Eboni S. Nelson, featured, Gen Y, University of South Carolina, young consumers
About the Author
Tamara Bell: Tamara Bell is the editor of Y Gen Out Loud. She began her journalism career as a reporter in Dallas, Texas. A few years later, she moved into politics and government, working for both Democratic and Republican members of the Texas Legislature. When not working on Y Gen, Tamara is a lecturer in the Advertising Department at The University of Texas at Austin. Tamara has a B.A. in Journalism from Texas A&M University and a Ph.D. in Journalism from The University of Texas at Austin.
