Legal Briefs

Your weekly update on the regulatory landscape.

Compliance Question of the Week

Can I charge any fees due to dormancy or inactivity, or stop paying interest on a dormant account?

New Options for Toll Free Credit Counseling for Credit Card Statements

Following the NFCC’s decision to charge for previously free toll-free numbers, there are other free options available, but CUs must be aware of the compliance issues if they switch providers.

Final Credit Card Act Rules Released

Late Tuesday morning, June 15, the Federal Reserve Board published the final rules implementing the third (and last) phase of the Credit CARD Act. The rules are effective on August 22, 2010.