Proposed changes to Regulation Z: highlighting behaviors that affect credit costs

Ann Kjos

No 08-02, Consumer Finance Institute discussion papers from Federal Reserve Bank of Philadelphia

Abstract: On June 29, 2007, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop led by Jeanne Hogarth, program manager, Consumer Education and Research Section, Division of Consumer and Community Affairs, Federal Reserve Board of Governors, to discuss the Board?s proposed changes to disclosure requirements for open-end credit, in particular, credit card billing statements and solicitation materials. Hogarth tied the proposed changes to her own research that identified certain behaviors most likely to affect the interest rates consumers pay for credit card borrowing. Given these research findings, Hogarth argued that having access to easily understood information about critical credit card terms and conditions can help consumers make more financially efficient decisions.

Keywords: Regulation Z: Truth in Lending; Credit cards (search for similar items in EconPapers)
Date: 2008
New Economics Papers: this item is included in nep-ban and nep-reg
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