Washington Post: Credit card firms face tighter rules

Albert Crenshaw reports on tighter standards issued by Federal banking regulators on Wednesday including new guidelines on minimum payments.

“We saw slippage in banking practice,” and the new standards are meant to “kind of pull it back into more the middle of the road,” said Barbara Grunkemeyer, acting deputy comptroller of the currency for credit risk.

The press release and guidelines document are available on the Federal Reserve web site.

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