Over half of Americans carry total credit card debt averaging $10,000 each and totaling over $800 billion. On April 24, the Government Accounting Office (GAO) released a report finding that more than half of consumers who carry credit card debt want customized disclosures on their monthly bills explaining how many years it will take to pay off the card if only the requested minimum payment is made. Sen. Daniel Akaka (Hawaii) has introduced legislation to make this disclosure law. More: PIRG expert on NBC Nightly News (Video and print story).
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