WEBINAR: Unfair and Deceptive Practices and TILA - An Overview & Analysis of New Credit Card Rules

Overview

Broadcast on:	Tuesday, January 6, 2009
Duration:	90 minutes
Presenters:	Leonard Chanin, Associate Director, Division of Consumer and Community Affairs, Federal Reserve Board Karl Kaufmann, Esq., Partner, Sidley and Austin Steven Zeisel, Esq., Senior Counsel, Consumer Bankers Association
On-Demand Fee:	$95
Webinar Registrants:	PRESENTATION      HANDOUTS    (Login required)

The Federal Reserve Board and other regulatory agencies proposed rules earlier this year that will make major changes in permissible credit card lending practices. The Fed has also proposed sweeping new disclosure requirements for cards. These rules will profoundly affect your credit card practices. They will, among other things:

• Severely restrict rate increases on outstanding balances
• Require 45-days advance notice for rate increases
• Prohibit applying payments to the lowest rate first
• Ban double-cycle billing
• Make major changes in disclosure format and content

Final rules are expected before the end of 2008. Additional rules are expected to address overdraft programs and services as well.

CBA is offering this as the first of several webinar programs to cover these important developments. This webinar will cover the Credit Card practices and disclosures. Future webinars will address Overdraft rules.

Please check back for additional details as final rules are released.

Leonard Chanin is Associate Director of the Federal Reserve Board's Division of Consumer and Community Affairs. He has principal oversight responsibility for the Regulations branch of the Division, which includes the legal analysis and regulation drafting functions.

Karl F. Kaufmann's practice focuses primarily on regulatory and legislative issues affecting financial institutions, with an emphasis on retail banking. Kaufmann focuses on issues pertaining to privacy, payment systems, consumer loan products and consumer bankruptcy.

Steven Zeisel, Esq., is Vice President and Senior Counsel for the Consumer Bankers Association. His practice covers a wide range of legal and regulatory issues associated with areas of consumer financial services. He is an author and speaker on issues related to consumer credit regulation, Truth in Lending, CRA and Fair Lending.

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Questions? Contact Aleks Maksic, CBA Registrar, (703) 276-1750.

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