The most common transaction fees, such as cash advance fees and balance transfer fees, also would be disclosed inside the box. Penalty pricing. The proposal would make several improvements to the Schumer box to increase consumers' understanding of default, or penalty, pricing. Currently, credit card issuers must disclose inside the box the APR that will apply in the event of the consumer's default.
Roger W Ferguson: Technology, Macroeconomics, and Monetary Policy in the United States  Remarks by Mr Roger W Ferguson, Jr, Vice Chairman of the Board of Governors of the US Federal Reserve System, at the Rochester Institute of Technology, Rochester, New York on 6 December 2000.