The New Credit Card Rules: How Will They Really Affect You?
In a year-end gift to consumers, the Federal Reserve Board, along with the Office of Thrift Supervision and the National Credit Union Administration, announced on December 18 their approval of long-overdue new credit card rules that will limit the arbitrary rate hikes and fees imposed by credit card companies – but won’t take effect until July 1, 2010. The recent announcement arrived in the midst of a widening U.S. recession that continues to necessitate financial relief for consumers, making the 2010 start date of the new credit card rules particularly belated. Regardless of the Fed’s better-late-than-never approach to enforcing the improved credit card regulations, the new rules will benefit approximately 695 million American credit card users once they take effect. The following are some consumer-friendly provisions of the new rules:
Merrill Lynch, Morgan Stanley Battle Independent Brokerages For Wealthy Investors
U.S. Bank Acquires FBOP Corporation’s 9 Failed Banking Subsidiaries
Assessing the Impact of the FDIC’s Temporary Liquidity Guarantee Program
FDIC Chairman Shelia Bair on The State of American Banking – Summary and Analysis
Citibank Credit Card Interest Skyrockets In Anticipation of Federal Regulation
Commerce Bank of Southwest Florida Fails, Becomes 123 Bank to Close in 2009
ING Direct Black Friday Special: Save ‘Til You Drop
Savers Left With Fewer Options as Hudson City Savings Lowers Top CD Rates
Wells Fargo Settles $1.4 Billion Lawsuit Regarding Auction-Rate Securities
‘Too Big To Fail’ Firms May Be Broken Down To Smaller Size
