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In addition to lower minimum down-payment requirements, F.H.A. has laxer rules for credit scores and debt-to-income ratios.
Congress should give consumers what they need and deserve — fair and clear lending rules for credit cards.
Mr. Franken, in a statement, said he could live with the compromise and expected that the rules for credit rating agencies ultimately would be changed.
Your editorial about the Federal Reserve's proposed rules for credit cards ("Listen to the 56,000," Aug. 6) correctly notes that the industry is concerned that this regulation could limit the availability of credit for American consumers.
What does it mean by shopping cart?' " It has been equally daunting to convince consumers to use plastic over cash, especially given the complicated rules for credit cards drawn up by banks in some areas.
As Congressional Democrats and the White House crow about multiple victories over the financial industry, including new rules for credit card issuers, banks are quietly savoring an even bigger victory of their own.
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He has proposed tougher rules for credit-rating agencies, even changing the way they are paid so they are compensated by investors, not by the companies they are evaluating.
Democrats in Congress and on the campaign trail are pushing for tougher restrictions on deceptive or risky mortgage lending, stricter rules for credit-card issuers and new rules that would allow bankruptcy judges to reduce the size of mortgages.
We show that this is a potentially serious problem, due to asymmetric information between project hosts and the regulator, the CDM Executive Board, and to the basic rules for crediting CDM quotas.
[C3.] Tighter Rules Suggested for Credit Regulators suggested that credit-card issuers need to tighten lending standards, making credit a little harder to get.
Last week, Senators Brian Schatz (HI) and Sherrod Brown (OH) introduced the Stop Errors in Credit Use and Reporting (SECURE) Act that would require credit bureaus to follow tighter rules for ensuring credit reports are accurate and give consumers free access to reliable credit scores every year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com