Consumers, Credit Card Rules | featured news

Starting today, credit card companies in most cases can't charge more than $25 for late payments. New rules could also mean lower interest rates for consumers.

The Federal Reserve adopted new rules Tuesday aimed at protecting credit card customers from getting socked by lofty late payment charges and other penalty fees ...

They're introducing all sorts of new fees and changes as laws take effect that are designed to make financial heavyweights friendlier to customers. Happy new year. Now pay up.

Legislation to rein in credit card practices and eliminate sudden rate hikes and late fees that have entangled millions of American consumers is getting closer to becoming law, bolstered by presidential pressure and the backdrop of economic calamity.

Legislation to curb credit card fees and limit consumer penalties cleared a congressional panel on Wednesday, a day ahead of a meeting between industry executives and President Barack Obama at the White House.