{"id":193449,"date":"2008-12-15T00:21:00","date_gmt":"2008-12-15T05:21:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/15\/even-a-stopped-clock-federal-reserve-edition\/"},"modified":"2008-12-15T00:21:00","modified_gmt":"2008-12-15T05:21:00","slug":"even-a-stopped-clock-federal-reserve-edition","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/15\/even-a-stopped-clock-federal-reserve-edition\/","title":{"rendered":"Even a Stopped Clock: Federal Reserve Edition"},"content":{"rendered":"<p>It appears <span>that<\/span> <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2008\/12\/13\/AR2008121300906.html?hpid=topnews\">the Federal Reserve is considering major changes to the regulations regarding credit cards<\/a>:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>The Federal Reserve on Thursday will vote on sweeping reform of the credit card industry that would ban practices such as retroactively increasing interest rates at will [the so called universal default]and charging late fees when consumers are not given a reasonable amount of time to make payments.<\/p><\/blockquote>\n<p>They are likely to kick down the road a proposal to require the banks to provide opt-out to the confiscatory fees for &#8220;overdraft protection&#8221;, as both banks and consumer advocates see the current proposal as &#8220;flawed&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It appears that the Federal Reserve is considering major changes to the regulations regarding credit cards: The Federal Reserve on Thursday will vote on sweeping reform of the credit card industry that would ban practices such as retroactively increasing interest rates at will [the so called universal default]and charging late fees when consumers are not &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,985],"tags":[],"class_list":["post-193449","post","type-post","status-publish","format-standard","hentry","category-finance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193449"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=193449"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193449\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}