US regulators extend comment period for card rules
The deadline was originally set for 9 August.
Regulators last month issued the draft guidance, citing "inappropriate" practices among institutions engaged in credit card lending and advocating stricter standards.
"Recent examinations of institutions engaging in credit card lending have disclosed a wide variety of account-management, risk-management and loss- allowance practices, a number of which were deemed inappropriate," the Federal Financial Institutions Examination Council said 22 July.
The council is comprised of the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision and the National Credit Union Administration.
Among the areas of concern for regulators are credit card lenders' credit-line management, over-limit practices, workout and forbearance practices and income-recognition and loss-allowance practices.
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