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Consumer Law
: CL&P BlogFed Credit Card Rule update
By Alan White
At today's Consumer Advisory Council meeting, Federal Reserve Board staff provided a bit more information on the news that the Fed will regulate abusive credit card practices. A proposed rulemaking will be published in the Federal Register, perhaps in April or May, and may include rules on prompt posting of payments, double-cycle billing, retroactive application of rate increases, and other practices. The Fed is working separately on a credit card disclosure rule, and plans to combine the pending rule and the new proposal into a final credit card regulation by the end of the year.
Full post as published by CL&P Blog on March 05, 2008 (boomark / email).
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