Thursday, March 4, 2010

The Federal Reserve Board Launches Credit Card Web Site to Help Consumers Understand New Rules

The Federal Reserve Board has launched a new interactive Web site to help consumers better understand the new credit card protections that will take effect on February 22. These rules ban several harmful practices and require greater transparency in the disclosure of the terms and conditions of credit card accounts.

The site, which can be found at, summarizes the main provisions of the rules and explains how they will affect credit card users. Two interactive features will allow consumers to learn more about the terms and fees of credit card offers and about the new features of their monthly statements.

"These online tools and resources will help consumers make well-informed decisions about their use of credit," said Federal Reserve Board Governor Elizabeth A. Duke. "We will update the site regularly to provide the most useful and current information."

Read more about it in the Federal Reserve Board's press release. Visit the site.