Credit union tests simpler credit card agreement

A simpler credit card agreement is getting a tryout. reports the Consumer Financial Protection Bureau has released a prototype of a credit card agreement that’s written in plain English. The form will be tested over the first half of 2012 with new credit card applicants at the Pentagon Federal Credit Union. For now, there are no plans to require credit card companies to adopt the form. (Consumer Finance)

This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.