Fed Clamps Down On Credit Card Loopholes

Fed Clamps Down On Credit Card Loopholes

To shut down “fee harvesters” and other crafty tricks credit cards cooked up to escape the CARD act, the Federal Reserve has proposed three ways to tighten and clarify the rules. [More]

You Have Until Friday To Tell The Fed That Their Proposed New Credit Card Rules Aren't Enough

You Have Until Friday To Tell The Fed That Their Proposed New Credit Card Rules Aren't Enough

The Federal Reserve Board has set this Friday, October 12th, as the deadline for hearing any comments regarding Regulation Z, its proposed set of modified guidelines for the credit card industry. According to experts who aren’t on the credit card companies’ payrolls, the new rules are a weak fix that does little to protect consumers.