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Wednesday, 24th February 2010

FRB Announces New Online Consumer Guide to Credit Cards

FRB announces new online consumer guide to credit cards

The Federal Reserve Board on Friday launched a new interactive website to help consumers better understand the new credit card protections that will take effect on February 22. These rules ban several harmful practices and require greater transparency in the disclosure of the terms and conditions of credit card accounts.

The site, which can be found at www.federalreserve.gov/creditcard, summarizes the main provisions of the rules and explains how they will affect credit card users. Two interactive features will allow consumers to learn more about the terms and fees of credit card offers and about the new features of their monthly statements.


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