Credit Card Regulation 5-20-08

Congress and many consumer activist groups have called for closer regulation on the terms of credit cards. In particular, there have been calls to place price caps on certain fees, including overlimit fees, late fees, and the like. There have also been calls for stricter regulation of credit card marketing, such as marketing to college students. Likewise, there have been calls for specific regulation of certain practices, such as cross-default clauses in credit card contracts. Last year the Federal Reserve issued a long-awaited and lengthy set of proposed amendments to Regulation Z implementing the Truth in Lending Act. What would be the likely the effects of these regulations on consumer protection and competition in the credit card industry?

Panelists:
--Mr. Thomas A. Durkin
--Mr. Oliver I. Ireland
--Prof. Adam J. Levitin
--Prof. Todd J. Zywicki
--Moderator: Mr. Andrew Cochran

National Press Club
Washington, DC

Category:

News & Politics

Tags:

• federalist
• judiciary
• law
• supreme
• court
• conservative
• libertarian
• public
• policy
• constitution
• credit
• card
• regulation
• federal
• reserve
• interest
• rates