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FRONT PAGE  |  11/21/2017
WEDNESDAY, SEP 30, 2009
Fed Proposes Rules on Credit Cards
The Federal Reserve proposed tough credit card rules on Tuesday to protect consumers from potentially costly practices by lenders, and moved to put in place legislation enacted in May.

“This proposal is another step forward in the Federal Reserve’s efforts to ensure that consumers who rely on credit cards are treated fairly,” Elizabeth A. Duke, a Fed governor, said in a statement.

They would also ban “two-cycle” billing methods, where a creditor raises an interest rate and charges the higher rate for a customers’ previous borrowing. ...


CLICK HERE to Read Entire Article
www.nytimes.com

Advice For Hopelessly In Debt?
  START  
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•  Family and Finances - Part 1Doug Greeley | 3/15/2009

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