Proposed Changes to Regulation Z: Highlighting Behaviors that Affect Credit Costs

20 Pages Posted: 17 Jul 2008 Last revised: 22 Nov 2019

See all articles by Ann Kjos

Ann Kjos

Federal Reserve Bank of Philadelphia

Date Written: March 1, 2008

Abstract

On June 29, 2007, the Payment Cards Center of the Federal Reserve Bank of Philadelphia sponsored a workshop led by Jeanne Hogarth, program manager, Consumer Education and Research Section, Division of Consumer and Community Affairs, Federal Reserve Board of Governors, to discuss the Board's proposed changes to disclosure requirements for open-end credit, in particular, credit card billing statements and solicitation materials. Hogarth tied the proposed changes to her own research that identified certain behaviors most likely to affect the interest rates consumers pay for credit card borrowing. Given these research findings, Hogarth argued that having access to easily understood information about critical credit card terms and conditions can help consumers make more financially efficient decisions.

Suggested Citation

Kjos, Ann, Proposed Changes to Regulation Z: Highlighting Behaviors that Affect Credit Costs (March 1, 2008). FRB of Philadelphia - Payment Cards Center Discussion Paper No. 08-02, Available at SSRN: https://ssrn.com/abstract=1160257 or http://dx.doi.org/10.2139/ssrn.1160257

Ann Kjos (Contact Author)

Federal Reserve Bank of Philadelphia ( email )

Ten Independence Mall
Philadelphia, PA 19106-1574
United States

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