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Home > Tag Archives: Credit Card Accountability Responsibility and Disclosure Act

Tag Archives: Credit Card Accountability Responsibility and Disclosure Act

Are Stay-At-Home Mom’s At Risk For Being Denied Credit?

The Federal Reserve has recently proposed new rules in credit card lending to only consider one’s personal income and not the household’s income. Essentially, this sounds smart. They are trying to prohibit those without a steady income from taking on credit, especially those unable to repay their debt. However, Margaret Ryznar points out an outstanding point in her most recent ... Read More »

New Credit Card Rules Help Protect Consumers

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Effective August 22, 2010 the following new rules now cover credit card transactions and use. Good news for consumers. In addition to the points below, as of now, credit card companies are prohibited from increasing rates within the first year an account is opened. Reasonable penalty fees Let’s say you are late making your minimum payment. Under the new rules: ... Read More »

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