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Federal Reserve Limits Credit Card Fees
Posted By Jim On 06/16/2010 @ 10:03 am In NEWS | 4 Comments
The Federal Research Board approved a final rule  today regarding fees for late payment, penalties, inactivity fees, and other similar charges. The rule amends Regulation Z, Truth in Lending , and governs the following:
You can read the actual document here  with a summary of the major pieces of the final rule starting on page 4.
These rules will go into effect August 22, 2010.
(Photo: epicharmus )
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 approved a final rule: http://www.federalreserve.gov/newsevents/press/bcreg/20100615a.htm
 Regulation Z, Truth in Lending: http://www.fdic.gov/regulations/laws/rules/6500-1400.html
 here: http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20100615a1.pdf
 epicharmus: http://www.flickr.com/photos/epicharmus/2397332061/sizes/m/
Thank you for reading!