Credit Card Regulation

Credit card regulation refers to the laws and guidelines established to protect consumers and ensure fair practices in the credit card industry. These regulations cover areas such as interest rates, fees, and disclosure of terms. For instance, they require lenders to clearly explain the costs associated with credit cards, including how interest is calculated. Regulations also aim to prevent unfair practices, such as hidden fees or discriminatory lending. By setting these standards, credit card regulations seek to promote transparency, safety, and responsibility for both consumers and financial institutions.