(Reuters) - The Fed's Consumer Advisory Council said it wants to
require credit card companies to give customers more time when
changing the terms of the account. The group prefers a 45-day
notice period, instead of the Fed's proposed 15 days, a move
that could reduce revenues for the industry.
Kurt Eggert, a professor at Chapman University School of
law in Orange, California, said the extension allows a consumer
to shop around for a new card company, resulting in competition
with perhaps better fees and rates, and other benefits.
Read more at Reuters.com Government Filings News
require credit card companies to give customers more time when
changing the terms of the account. The group prefers a 45-day
notice period, instead of the Fed's proposed 15 days, a move
that could reduce revenues for the industry.
Kurt Eggert, a professor at Chapman University School of
law in Orange, California, said the extension allows a consumer
to shop around for a new card company, resulting in competition
with perhaps better fees and rates, and other benefits.
Read more at Reuters.com Government Filings News
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