New credit card rules - WLOX.com - The News for South Mississippi

New credit card rules

Posted: Updated:

WASHINGTON, D.C. - New credit card rules go into effect February 22, 2010. The Federal Reserve is enacting these rules to increase protection for consumers.

Among the new rules, a credit card company must send you a 45 days notice when they plan to increase your interest rate, change certain fees, or make other significant changes to the terms of the card.

The new rules also prevent credit applications from blanketing college campuses.

Also, as part of the regulations banks must now make statements easy to read and under stand.

A complete list of what you need to know about the new rules is on the Federal Reserve's website.

Copyright 2010 WLOX. All rights reserved.

 

 

Powered by WorldNow

208 DeBuys Road
Biloxi, MS 39531
(228) 896-1313

FCC Public File
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and WLOX. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.