Credit Card Regulations: A Mixed Bag

August 18, 2008

In May, the Federal Reserve Board, the Office of Thrift Supervision and the National Credit Union Administration proposed new rules that restrict the pricing and collection of credit card accounts. More recently, the House Financial Services Committee approved a bill by Rep. Carolyn Maloney (D-NY) that would rein in common credit card practices. The Federal Reserve Board has received more than 27,000 form letters as responses to these proposals, according to its Web site. As of ASR's press time, the Board did not issue its own response to the comments.

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