The rules would go further in regulating the credit card industry than one the agency announced last summer, which would require card issuers to more clearly disclose terms and conditions to their customers.
Sandra F. Braunstein, director of the Fed's division of consumer and community affairs, acknowledged to the House Financial Services subcommittee on financial institutions and consumer credit that "careful measures that would restrict credit card terms or practices may in some instances be more effective than disclosure to prevent particular consumer injuries."
