Proposal to Enforce Unfair and Deceptive Practices Making Headway- Posting Date: 05/02/2008

Lately, there has been a buzz going on in the regulatory realm about proposing rules to curb unfair and deceptive practices with respect to credit cards. It appears that the OTS is one of the first to blaze the trail. On May 1, 2008, the OTS announced that it had approved just such a proposal and outlined a number of proposed requirements governing credit card practices. In addition, the proposal also addressed prohibited practices in connection with overdraft programs. According to the OTS, the proposal is aimed at addressing concerns about fairness and transparency.

  Proposal to Enforce Unfair and Deceptive Practices Making Headway.pdf (78k)