New Credit Rules Could Hurt Stay-at-Home Moms (U.S. News & World Report)

U.S. News & World Report - Continuing a post-CARD Act trend of proactive regulation, the Federal Reserve recently proposed rules that, if adopted, would significantly improve the credit card application process. These rules would require banks to judge applicants for credit card offers based on their personal income rather than that of their household, as is currently the case, thereby making it far easier for issuers to judge who merits credit approval and, in turn, significantly decrease the likelihood of overleveraging.

Source: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http://news.yahoo.com/s/usnews/20110323/ts_usnews/newcreditrulescouldhurtstayathomemoms

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