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Federal Reserve Board Issues Final CARD Act Rule on Penalty Fees and Rate Reevaluations
Today, adding yet another layer of credit card regulation, the Federal Reserve Board ("Board") issued a final rule ("Final Rule") to implement the reasonable penalty fee and rate reevaluation provisions of the "Credit Card Accountability Responsibility and Disclosure Act of 2009" (the "CARD Act" or "Act").
United States
22 Jun 2010
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