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The majority of credit unions have seen their credit card programs largely unchanged by the implementation of the Credit Card Accountability, Responsibility and Disclosure Act, and many card programs have received a boost from consumers seeking credit cards they feel they can trust.

The new law had relatively little direct impact on credit unions because most never did many of the things the CARD Act’s regulations were meant to correct, according to industry executives. This left credit unions with having to comply with the disclosure regulations and make changes to the information contained in cardholder statements. And many CUs also chose to stop charging members for exceeding the credit limits on their cards, though that fee rarely generated significant income.

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