Public Comments to Fed Credit Card, Overdraft Proposals

The Federal Reserve's public comment site for its proposed credit card and overdraft fee regulation changes now lists 15,775 comments - along with a consolidated list of over 27,000 "form letters" that it has not individually posted to the site.

Among the most extensive comments received are those of Bank of America filed by executives Lance Weaver and Susan Faulkner in a 50+ page filing. They begin: "The proposal would substantially reinvent the business of credit card lending and deposit taking. ... This proposal will have a broad impact on the economy both at the retail level and in highly complex securitization markets, slowing growth and limiting access to financing."