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Fed proposes limits on credit card penalty fees [WaPo]

Thursday, March 4, 2010 - 7:46 AM
From the Washington Post
The Federal Reserve proposed restrictions Wednesday on penalty fees that credit card issuers can charge consumers, including limiting the amount of late fees.
Here's the link to the Federal Reserve press release and here's one notable proposed rule:
Ban inactivity fees, such as fees based on the consumer's failure to use the account to make new purchases.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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