# Prof. Johannes Stroebel's research on the Credit CARD act is cited

1 Faculty News March 2, 2014 ![Yahoo Finance logo](/sites/default/files/styles/246w/public/assets/images/yahoofinance.jpg?itok=iQnyXkp_)>

Excerpt from [Yahoo! Finance](http://finance.yahoo.com/news/still-worry-credit-card-gotchas-130028803.html) -- "In fact, the elimination of many fees, and clarity on other penalties and repayment terms, is saving consumers $12.6 billion annually according to a paper published Jan. 26 by a team of academics led by economist [Johannes Stroebel](http://www.stern.nyu.edu/faculty/bio/johannes-stroebel) of New York University. The team found the true cost of credit – interest rate plus fees – has shrunk significantly since implementation of the CARD Act, and even more for consumers with poor credit."

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