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Federal consumer panel meeting to focus on CARD Act
WASHINGTON (10/7/09)--The Federal Reserve Board’s Consumer Advisory Council (CAC) has scheduled proposed rules to implement the Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 as one of several topics of discussion for its next meeting, which will take place on Oct. 22. According to the Fed’s notice, the complete CAC agenda also includes discussion of proposed rules regarding disclosures related to closed-end mortgages and home-equity lines of credit and potential consumer protections for home-secured credit. Foreclosure issues will also be discussed during the meeting, with a particular focus falling on loss mitigation efforts, the Obama administration’s Making Home Affordable program, and other topics. Other items may be added to the agenda, if requested by CAC members. Parties that wish to present their views to the CAC on these topics may send written statements to Jennifer Kerslake, Secretary of the Consumer Advisory Council, Division of Consumer and Community Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. The Credit Union National Association earlier last month nominated American Southwest CU President/CEO Brian Barkdull to represent credit union interests on the 30-member CAC panel.
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