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News Now

Washington
Reg Zs open-end credit rules under review
WASHINGTON (6/2/08)--Credit unions can comment on the Federal Reserve Board proposed amendments to open-end credit rules under Regulation Z, which includes changes related to credit cards and merchant-specific credit plans. This proposal revises the comprehensive open-end proposal that was issued last year in order to complement and be consistent with the proposals issued recently by the National Credit Union Association, the Fed, and the Office of Thrift Supervision. The proposal addresses unfair and deceptive practices related to credit cards and overdraft protection plans. Use the resource link for more information and to access CUNA's Regulatory Comment Call.


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