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Credit 101

The Fed Cracks Down on Credit Card Companies - Too Little Too Late?

In early May the Fed issued several new proposals designed to protect consumers by restricting various credit card billing practices and requiring more clarity in disclosure of costs. The US Federal Reserve Chairman, Ben Bernanke, stated the proposals are "intended to establish a new baseline for fairness in how credit card plans operate.

Updated by Joshua Heckathorn on Sun, 2008-05-18 17:00

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