The federal government may have recently tightened regulations for banks and credit cards, but that doesn’t mean these companies have stopped raising rates and fees. Despite a host of new rules introduced by the Credit Card Accountability Responsibility and Disclosure Act of 2009, companies have continued to jack up costs to make up for a shortfall in consumer spending, according to industry expert Bill Hardekopf.

“A lot of people felt that with the CARD Act, their interest rates would become frozen, and that’s simply not true,” said Hardekopf, CEO of consumer website LowCards.

Currently, the average interest rate for credit cards is 13.64 percent, based on an analysis of more than 1,000 credit cards, he said. Read more in Star Ledger.