Released: March 07, 2010

Fed proposes rule to limit credit card fees

Source: Kathy Chu, USA Today

n the latest move to overhaul consumer banking practices, the Federal Reserve unveiled a preliminary rule last week to address pesky credit card fees such as late and over-limit charges. The rule — which will be finalized after the public is given a chance to comment — is as notable for what it doesn’t do as for what it does. Here’s a look at how it’ll affect consumers.

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