Federal Reserve Announces Online Consumer Guide to Credit Cards
February 19, 2010
Circular No. 12186

The Federal Reserve Board has launched a new interactive website to help consumers better understand the new credit card protections that will take effect on February 22, 2010. These rules ban several harmful practices and require greater transparency in the disclosure of the terms and conditions of credit card accounts.

The site 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.

Information about recent changes in credit card rules forms the core of the site, but basic facts about common credit card options, interest rates, and fees are also provided. Consumers will find a glossary of common credit card terms for quick reference. A list of federal credit protection laws provides a basic guide for those who want to learn more about their rights.

See press release for full details.

Press release offsite