Be Heard! Express your opinion about the credit card industry to the Federal Reserve Board

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The Federal Reserve Board, lead by Ben Bernanke, is proposing new rules for lending practices specifically geared toward the Credit Card industry, to be precise it’s the Regulation AA - Unfair or Deceptive Acts or Practices [R-1314]. And Bernanke wants to hear from you, and they made it as easy as sending an email.

So, if you feel you have something meaningful to contribute to this conversation, if you have concrete examples that could lead to improving the entire marketplace do not hesitate to send an email to:

make sure you enter “Reg - AA” in the subject line

The Federal Reserve has posted 1847 (*) letters and emails received, with 31,000 more that are not being posted (*); and they have also published a document that contains examples of the content of eighteen different form letters (2.2 MB .pdf).

This is democracy at its best, participate in the discussion, put your thoughts in writing, and send them to the ones who have the power to hear you and do something about it.

Good lending companies always welcome new and fair regulation, it weeds out the bad players, the bad apples from the bunch, and restores trust into such an important industry. The lending industry is the fuel of the economic engine of the Unites States, do your part to improve it: collect your thoughts, and participate.

(*) Official count as of this writing

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