PaymentsSource

Regulation

• Issuers Formulating Proposed Penalty-Fee Rules Under Tight Fed Deadline

  PaymentsSource | March 5

  Credit card issuers this week began scrambling to formulate models for what they consider to be “reasonable and proportional” customer penalty fees for late payments and overlimit charges.

• Consumers Rank CARD Act Rule Barring Interest-Rate Hikes On Existing Balances Most Important

  PaymentsSource | March 2

  New restrictions on card issuers raising interest on existing balances under the Credit Card Accountability, Responsibility and Disclosure Act are far more important to consumers than the law’s other provisions that also went into effect last week, the results of a recent poll suggest.

• Frank: Interchange Legislation ‘Not On Our Agenda This Year’

  PaymentsSource | February 25

  The House Financial Services Committee does not plan to pursue interchange legislation this year, according to committee Chairman Barney Frank, D-Mass.

• Obama Praises New Credit Card Law

  American Banker | February 23

  President Obama welcomed implementation of the new credit card law on Monday.

• Issuers Take Different Paths to Introduce New Card Rules

  PaymentsSource | February 18

  Several credit card issuers this month are taking more “positive, promotional” approaches to introducing new policies and billing-statement changes mandated by a federal law that goes into effect next week, according to new research by Corporate Insight, a New York-based market-research firm.

• Reg Z's New Challenges

  American Banker | February 11

  Starting Feb. 22, lenders must comply with changes in Regulation Z, part of the Credit CARD Act of 2009.