The Fed is set to vote Thursday on a number of key protections for credit-card customers.
NEW YORK (CNNMoney.com) -- Cash-strapped consumers might get some welcome news on Thursday when regulators vote to rein in controversial credit card practices.
The proposed rules, which have received overwhelming consumer support, prohibit banks from practices like raising the interest rates on pre-existing credit card balances unless a payment is over 30 days late, and applying payments in a way that maximizes interest penalties.
The Federal Reserve Board, the Office of Thrift Supervision and the National Credit Union Administration, are all expected to approve the regulation. The rules are expected to take effect by 2010.
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In the midst of a credit crunch, Americans have about $976.3 billion in revolving credit and 4.9% of all credit cards were delinquent in the third quarter, according to the latest data from the Federal Reserve
Как я понимаю, это будет еще один гвоздь гм.... программы ...
