Today’s guest on the Consumerism Commentary Podcast is Dr. Robert Manning, author of Credit Card Nation: The Consequences of America’s Addiction to Credit, and founder and CEO of Responsible Debt Relief. Tom Dziubek and Dr. Manning discuss the results and effects of the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009.
Also in today’s program, I speak with Tom about several suggestions for handling layoffs, still a common concern as the job market is one of the last aspects of an economy to improve following a recession.
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[00:00] Introduction from Flexo
[00:37] Interview with Dr. Robert Manning, Credit Card Nation
— [01:27] Intents of the 2009 Credit Card Act
— [05:24] Dr. Manning’s take on the effectiveness of the act
— [08:11] Recap of the Credit Card Act goals
— [08:58] Difference between fixed and variable rates
— [11:35] Discussing the possibility of congress acting to close loopholes
— [12:28] Ways that credit card companies have been reacting to the bill
— [13:33] Behavioral profiling used by credit card industry
— [17:57] Ways for people to prepare themselves for changing credit card company policies
— [19:09] Dr. Manning’s current projects
[23:00] Tips on how to handle a layoff with Flexo and Tom
— [23:35] Re-evaluating your life goals
— [25:28] Determining the steps to reach your goals
— [27:33] Seeking financial assistance
— [30:18] Make smart financial decisions
— [31:27] Re-evaluating all of your expenses
— [32:01] 401k strategies
— [32:25] Sharpening your skills
— [33:49] Using your talents as a consultant
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Updated May 7, 2014 and originally published August 2, 2009.