Consumer Finance, Debt Relief Expert Source Available to Discuss Credit Card Reform

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Brad Stroh of Comments on Bill's Implications and Likely Outcomes of Regulations.

Bradford Stroh, co-founder and co-CEO of the free online financial portal and its sister company, Freedom Debt Relief, is available to comment on the potential impact of the credit card reform legislation signed into law by President Barack Obama.

"Overall, this law is long overdue," Stroh said. "Credit card companies do need regulation. The law is not partisan, and it has leveled the playing field so as to make things fair to consumers."

However, Stroh believes credit card reform still has a long way to go. "This legislation is a wonderful start, but we still need to address the issue of preemption. In a nutshell, federal regulations still exist that preempt state interest-rate caps and consumer protection laws," he explained. Preemption also benefits the credit card industry, he continued, which profits by exporting interest rates and fees that would otherwise be limited by state law. "Federal preemption should end; either the credit card industry should be regulated at state level or a national standard implemented to be consistent with many states' limitations on interest rates and fees."

In addition, very importantly, Stroh noted that better disclosure is still in order for consumers in terms of explaining how long it will take for someone to get out of debt if they make only minimum payments.

Stroh can discuss the bill's implications and factors affecting the U.S. credit and debt industry, including:
1.    The history of preemption (mentioned above) in the banking industry.
2.    Why the bill may make lenders less free with credit than we've seen in recent years.
3.    How the bill will affect consumers and credit scores.
4.    What the bill means for bank profitability.

Before founding Freedom Debt Relief and, Stroh spent several years in the finance and investment industries, with CIVC Partners and Coopers & Lybrand Consulting (Chicago), Doll Capital Management and Trigo Technologies Inc. (Palo Alto) and TA Associates (Boston). He holds a Master of Business Administration degree from Stanford University's Graduate School of Business and a Bachelor of Arts degree from Amherst College.

Based in San Mateo, Calif., is a free one-stop portal where consumers can educate themselves about complex personal finance issues and comparison shop for products and services including credit cards, debt consolidation, insurance, mortgages and other loans. holds the No. 257 spot on the Inc. 500 list for 2008, and the No. 3 spot on Entrepreneur Magazine's Hot 100 list of the fastest-growing U.S. companies. and its sister companies, Freedom Debt Relief and Freedom Tax Relief, are wholly owned subsidiaries of Freedom Financial Network, LLC. The company has served more than 50,000 customers nationwide since 2002 while managing more than $1 billion in consumer debt. Its RSS feed is available at


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Aimee Bennett
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