We also anticipate as part of this same rulemaking to propose new rules to address mortgage originator compensation. 4  BIS Review 91/2009  Credit card rules In December 2008, the Federal Reserve issued far-reaching rules to enhance protections for consumer credit card accounts. These rules are the most comprehensive changes to regulations that govern consumer credit cards ever adopted by the Board.
They affect nearly all aspects of consumer credit card accounts, including marketing and advertising, disclosures given with applications and at account opening, billing statements, and issuers' ability to change account terms. These rules formed the basis for the recently enacted Credit CARD Act of 2009.