Do you think it's unfair when a credit card company suddenly decides to apply a new, higher interest on an old balance? Have you ever received a credit card bill, only to realize that it was due so soon that you had to pay it right away?
The Federal Reserve Board and two other federal banking agencies are proposing a rule to reform some of the most unfair credit card tricks. But this important new rule is just a proposal at this point, and the banks are fighting hard to weaken it before it becomes final.
Don't let the banks win! Share with the Federal Reserve Board your experience with unfair credit card practices. Putting your personal story into the Federal Reserve Board's comment process ensures that the Fed hears about all types of unfair credit card practices and improves the odds that a strong version of the rule is adopted.
The Fed will only take into account messages with personalized comments, so please be sure to include a comment. Also, the comments you submit will be made available to the public, so don't include your account number.
Dear Federal Reserve Board,
[Your comment]
The new proposed credit card rules curb some abusive lending practices that drive consumers deeper in debt. I urge you to implement these rules to provide relief to people like me who just want a fair deal from credit card companies.
