Posted AT 6:01 PM EST on 20/05/09
New credit card rules coming today
Federal Finance Minister Jim Flaherty will unveil new credit card regulations at a news conference in Toronto on Thursday, a day after the U.S. Congress passed a “bill of rights” for credit cardholders.
The Canadian measures are expected to include the imposition of a minimum 21-day grace period, and requirements that financial institutions provide better disclosure about interest rates.
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