Federal Reserve System; Department of the Treasury, Office of Thrift Supervision; and National Credit Union Administration: Unfair or Deceptive Acts or Practices
GAO-09-421R: Mar 5, 2009
- Full Report:
GAO reviewed the Federal Reserve System (FRS), Department of the Treasury, Office of Thrift Supervision (OTC), and National Credit Union Administration's (NCUA) new rule on unfair or deceptive acts or practices. GAO found that (1) the final rule prohibits institutions from engaging in certain acts or practices in connection with consumer credit card accounts that the agencies have determined are unfair or deceptive; and (2) FRS, OTC, and NCUA complied with applicable requirements in promulgating the rule.