the karnack in my view was crafted legislation that combined the requirement of common sense disclosurewith protections from practices designed to make the use of consumer fraud ability for the benefit of the credit card issuer and to the detriment of the consumer. for its simple, the unfair rate increases in quitting rate increases on existing balances to the universal default clauses and restricted retroactive rate increases due to late payments. it's been unfair including the weekend due dates or due dates that change each month or payment deadlines in the middle of the day. it ended the confusing on fair practice of the so-called double cycle dillinger. this is an excellent careful kind of regulation using a variety of techniques that can be affected. there are important changes in the dodd-frank act to the housing market in addition to the creation of the consumer agency i will talk about in just a moment. most people don't know because the act was extremely long that it fundamentally shaped the rules of the road in the mortgage market. it yielded premiums and changed the practice