Comments Submitted to the Federal Reserve by the Pew Safe Credit Cards Project (Regarding “Reasonable and Proportional” Rules Under the Credit CARD Act of 2009)

Source Organization: Pew Safe Credit Cards Project

Author: Nick Bourke


06/25/2009 - The Pew Safe Credit Cards Project submitted comments (PDF) to the Federal Reserve Board in regard to rulemaking under the Credit CARD Act of 2009. These comments focused specifically on the law’s requirement that penalty fees and charges must be reasonable and  proportional to related cardholder omissions or violations. In addition to providing data from Pew’s research on current use of penalties in the credit card market, Pew made several key recommendations regarding the Board’s rulemaking effort.

Pew is no longer active in this line of work, but for more information visit the Safe Credit Cards Project on PewHealth.org.

X
(All Fields are required)