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Credit CARD act of 2009

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[ad#Content 300×250]As credit card companies use new tactics, practices to maneuver around the new credit card regulation, the Federal Reserve is planning on tighten its credit card policy. “The proposal is intended to enhance protections for consumers and to resolve areas of uncertainty so that card issuers fully understand their compliance obligations,” the Fed said. Several tactics that Credit Card companies use , such as Citi Bank offering a credit card interest rate at 29.9%,…

In order to make back the money lost by the Credit Card Act of 2009, credit card companies are trying new tricks to raise money. At a time when consumers are trying everything possible to get out of debt, credit card companies are doing everything possible to keep them in debt. In order to protect yourself from these shady practices, you have to know your rights under the law. Here are 3 new ways that…

Today the Federal Reserve as part of the new bill Credit Card Accountability Responsibility and Disclosure Act of 2009, decides to Ban “inactivity fees” and limit Credit Card Fees to $25. These restrictions add to the provisions already suggested like, limiting the use of credit cards to teens, and my favorite, minimum payment explanation. The Minimum payment explanation Requires that creditors print on their statements if the debtor makes the minimum payment only  how long it…