Finally, Some Good News for Credit-Card Users

Getty Images You, your credit card and the Fed. Journal reporter Jane J. Kim on new rules that could benefit consumers’ credit accounts. The Federal Reserve is expected to finalize rules—as early as next week—that would prohibit banks from jacking up interest rates on existing credit-card balances, except under limited circumstances. “No more hair-trigger late payments leading to interest-rate penalties,” says Ed Mierzwinski, the consumer program director at U.S. Public Interest Research