The comment period for the proposed rule that would prohibit the most egregiously unfair and deceptive practices of the credit-card industry has ended and it was a roaring success. According to an editorial in the New York Times, the U.S. Federal Reserve Board (the Fed), the Office of Thrift Supervision at the U.S. Department of Treasury, and the National Credit Union Administration received over 56,000 comments.

This well may constitute a comment record for a proposed Fed rule and it is attributable to small-business owners and consumers all across the country who took the time to stand up and make their voices heard.

NSBA thanks its members who submitted comments.
The New York Times editorial (Listen to the 56,000) is available here.