Tell The Federal Reserve What You Think About Proposed Credit Card Rules
By Jay Fleischman, New York Bankruptcy Attorney on Oct 2, 2007 in Credit Reports, Financial Resources on the Web, General Bankruptcy Information, Personal Finance
Consumers have less than two weeks to let the Federal Reserve Board know what they think about the Fed’s proposal to overhaul the rules regarding credit card disclosures. The Fed, which has authority to issue regulations governing credit cards under the Truth in Lending Act, issued a comprehensive proposal in June of this year. The comment period for this proposal ends Friday, October 12.
Chi Chi Wu, Staff Attorney at National Consumer Law Center, stated: “Consumers have a rare opportunity to weigh in on the rules that will govern credit card practices. But they need to do so soon.”
Some aspects of the Fed’s proposed regulations include:
Source: National Consumer Law Center
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