What are the odds for passage of one of the Congressional credit card reform bills?
Roderick Hills, professor of public law at NYU, told TheStreet.com that although Republicans would work hard to water down the CARD Act, they are less likely to filibuster in an election year after credit cards and banking have been in the [...]
The San Diego Union-Tribune has a list of a few other measures under consideration by Congress in its deliberations over credit card reform.
The measures include:
Restrictions on marketing to college students and those under 21 years of age.
7 percent limit on penalty interest rate increases.
Ban on fees for paying by phone or when using the internet.
Proposals [...]
The Credit Card Companies had better watch out - the floodgates have opened and they are standing in the river bed.
The Fair and Justifiable Credit Card Interest Rate Act of 2008 was introduced into the House of Representatives today. Arguing that the Federal Reserve proposal is a good first step but doesn’t go nearly [...]
The News Journal has an article aptly titled Critics call proposals ill-timed as banking industry already struggling. One of the critics is the American Bankers Association - which worries that credit card reforms will decrease the ability of Americans to get credit or increase their cost of doing so.
The ABA statement on the Federal Reserve’s [...]
Three big proposals (and probably a few more…) for credit card reforms are under consideration currently. They are:
The Credit Cardholders’ Bill of Rights. Under consideration in the House of Representatives, this bill has 110 co-sponsors.
Read More: Baltimore Sun, Atlanta Journal-Constitution
The C.A.R.D. Act - The Credit Card Accountability, Responsibility and Disclosure Act was proposed [...]
This website has been in the planning stages for a few weeks now, but the Federal Reserve Board’s decision to issue proposals for new rules governing credit card company practices spurred me to get it set up before originally planned. Over the next year, this website will examine the FRB proposed rules, proposals in Congress [...]
