Fed proposes new rules on credit card penalties

The Baltimore Sun: The Federal Reserve proposed new rules Wednesday on credit card penalties, including a ban on inactivity fees that some banks have been adopting as card reforms cut into their revenue.

The Credit Card Accountability Responsibility and Disclosure Act, which ushered in a wide range of consumer protections last month, also required the Fed to develop rules so cardholder penalties are "reasonable and proportional." Read Article

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