Fed Proposes Rules for Credit Card Issuers

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The U.S. Federal Reserve Board yesterday proposed an amendment to its rule enforcing the Truth in Lending Act that would require credit card issuers to adhere to certain guidelines when making direct mail offers to consumers.

The agency proposed that marketers use a minimum type size of 18 points to disclose the annual percentage rate and to use 12-point type for certain other disclosures.

The Fed also proposed other changes in the way issuers disclose information to consumers, including specifications about where the issuers place certain information within solicitation materials.

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