"The Act created a new equilibrium where interest rates have flattened, penalty charges have declined and a number of practices deemed "unfair or deceptive" have disappeared." -- Nick Bourke, director of The Pew Health Group's Safe Credit Cards Project (quoted in Credit card law helps consumers, report says)."Contrary to credit card industry claims, the new rules have not caused prices to increase or access to credit to fall. Instead, they have benefited the public by making credit card pricing significantly more transparent. Price transparency is likely to lower costs long term by spurring competition and making it harder for issuers to manipulate or arbitrarily raise prices." -- Center for Responsible Lending press release (quoted in Is credit card regulation working?). "New federal rules barring many abusive practices by credit-card issuers seem to be having an effect: Only 12 percent of Americans said their credit-card companies had generally treated them unfairly, according to Consumer Reports' nationwide survey, down from 15 percent in 2010, and 22 percent in 2009." -- ConsumerReports.org (quoted in CARD Act a win-win for credit card companies and customers). Even the banking lobby has been forced to agree. In February last year, this site quoted Peter Garuccio of the American Bankers Association, who had then recently told USA Today: "...when you look at the regulations, it's a net positive for consumers. But there have been some trade-offs."