The Federal Reserve Board has created a Web site for consumers to better understand the new credit card protections that took place on February 22, 2010. The protections require credit card issuers to provide greater transparency in the disclosure and terms and conditions of credit card accounts, as well as banning practices that can be harmful to consumers.
The Web site will help consumers learn more about the terms and fees of credit card offers and what will be changing on their monthly statements. Consumers will also find credit card options, interest rates, fees, a glossary of common credit terms for a helpful reference and even a list of protection laws for those interested in learning more about their rights.
The Web site will be updated regularly and is required to be on all solicitations consumers receive.
