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To: reaper who wrote (48811)	8/2/2002 6:40:16 PM
From: NOW	Read Replies (1) \| Respond to of 209892

You just gotta love the irony of this!!!: bankrate.com Feds tell credit card companies to shape up By Lucy Lazarony • Bankrate.com Too much easy credit. Offering another credit card to a consumer who is already struggling with card payments. A minuscule minimum payment that makes a card bill go up instead of down. Creditors urged to keep it clean These credit card practices have irked consumer advocates for years, and now federal regulators are advising card issuers to knock them off. On July 22, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Office of Thrift Supervision released a draft offering "guidance" to banks on credit card lending. "Recent examinations of institutions in credit card lending have disclosed a wide variety of account-management, risk-management and loss-allowance practices, a number of which were deemed inappropriate," the draft reads. "This interagency guidance communicates the Agencies' expectations for prudent practices in these areas." In short, after looking over the shoulders of card issuers, federal regulators want lenders to tighten up lending practices ASAP....