The Federal Reserve Board, which sets US national monetary policy, released minutes from its latest meeting today, striking a tone of temperate growth.
The Federal Reserve Board cuts interest rates again, now down to 3.5% from 4.25%, in a rare move outside the normal meeting schedule. The reduction is meant to stimulate growth as banks will lower their loan rates for certain kinds of loans. Here’s how things will go for the consumer:
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.
If you feel a bank has been “misleading, discriminated against you in lending, or violated a law or regulation,” you can file a complaint with the Federal Reserve Board.