Consumer Bureau tries to simplify credit card language

December 7, 2011 6:27:30 PM PST
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.


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