Office of Thrift Supervision Proposes New Rules on Unfair Banking Practices

Source: Consumers Union, Press Release, May 1, 2008

Proposal Offers Important Protections for Consumers But More Safeguards Needed To Rein In Abusive Practices

WASHINGTON, D.C. — The Federal Office of Thrift Supervision (OTS) announced today that it has approved for public comment a proposed rule to prohibit savings associations from engaging in certain unfair and deceptive practices. The proposed rule offers important new protections for credit card consumers, but more safeguards are needed, according to Consumers Union, nonprofit publisher of Consumer Reports.

See also:

Office of Thrift Supervision, Press release

Rule summary

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