Credit Card Policies Unfair? Tell the Fed.

The Federal Reserve Bank issued a proposal this past May to:

prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances

For a limited time, you can add your opinion to this proposal (scroll down and click “Submit Comment” below Regulation AA). You can also look through the existing comments — all 10,000 of them — if you’re feeling bored.

Scroll down to read 4 comments on “Credit Card Policies Unfair? Tell the Fed..”

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4 Comments on “Credit Card Policies Unfair? Tell the Fed..” To add your own comment, scroll down.

  1. Comment #1 by Anon (reply)
    July 8th, 2008 at 9:53 am

    When I worked at the Fed, I remember proofing a number of articles about credit cards and their policies and whether people read the information that came in their statements, so it’s interesting to hear about this.

  2. Comment #2 by Fred (reply)
    July 8th, 2008 at 7:54 pm

    Oh man, the Fed comments display everyone’s full names and addresses. Somebody really slipped up there.

  3. Comment #3 by Tim (reply)
    July 11th, 2008 at 12:28 pm

    or just don’t use them or pay them off every month

  4. Comment #4 by Mavi (reply)
    July 11th, 2008 at 1:09 pm

    During the Carter administration, the interest rates went up to 18%, while the credit card companies were charging only 5%. The credit card companies complained to the government and they were allowed to charge more interest and were given a free ride ever since. Why is it that nobody complains that the credit card companies’ interests are not going along with the interest rates at the present time? I think we should all start complaining and writing to our representatives so the abuse by the credit card companies stops.

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