The U.S. Consumer Financial Protection Bureau is testing a new credit card agreement with the Pentagon Federal Credit Union that it says is "short, simple (and) easy to understand," reports NPR's Planet Money Blog. The two-page agreement gets around the need for lengthy definitions by including them on a referenced Web page. One lawyer explains that the reason policies are so long is that they have to include "everything from 'What happens if you lose your credit card? to 'You have to pay us back.'" Meanwhile, TRUSTe has released its first privacy index, which analyzed 100 U.S. websites and found that while nearly 100 percent had privacy policies, they are long, complex and difficult for the average person to understand.
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