# Professor Johannes Stroebel's joint research on the impact of the CARD Act is referenced

1 Faculty News October 6, 2017 ![Huffington Post logo](/sites/default/files/styles/246w/public/assets/images/huffpost192x144.jpg?itok=sF2Y0c9v)>

Excerpt from [The Huffington Post](http://www.huffingtonpost.com/entry/the-same-old-song-wall-streets-repeatedly-discredited_us_59d7e139e4b08ce873a8cdc6) -- "Mahoney and his collaborators – Sumit Agarwal of the National University of Singapore, Souphala Chomsisengphet of the Office of the Comptroller of the Currency, and [Johannes Stroebel](http://www.stern.nyu.edu/faculty/bio/johannes-stroebel) of New York University’s Stern School of Business – found 'no evidence of an increase in interest charges or a reduction in access to credit.' While credit cards continued to be a highly profitable part of the banking business, the legislation had saved American consumers more than $20 billion a year, they concluded."

[Read more](http://www.huffingtonpost.com/entry/the-same-old-song-wall-streets-repeatedly-discredited_us_59d7e139e4b08ce873a8cdc6)