Regulators want more comprehendible credit card rates, fees

April 29, 2008 5:20:34 PM PDT
Federal regulators plan to introduce new policies this week to make credit card fees and interest rates easier to understand. The Wall Street Journal says regulators are expected to declare several credit card and banking practices "unfair" or "deceptive."

The new rules are expected to include restrictions for raising interest rates on existing credit card balances and for fees charged when customers overdraw their bank accounts.

The new rules are expected to be released during a hearing Friday.

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