Personal Finance Advice and Commentary

Monday, March 21, 2011 12:25 pm
By Lucy Lazarony ·

On March 18, the Federal Reserve Board approved a rule amending Regulation Z, which implements the Truth in Lending Act. This rule clarifies aspects of previous Board rules implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009. This rule states “credit card applications generally cannot request a consumer’s ‘household income’ because that term is too vague to allow issuers