Getting your player ready...
WASHINGTON — The Federal Reserve adopted new rules Tuesday aimed at protecting credit-card customers from getting socked by lofty late- payment charges and other penalty fees. They bar credit-card companies from charging a late fee of more than $25; charging penalty fees that are higher than the dollar amount associated with the customer’s violation; so-called “inactivity” fees; and they prevent multiple penalty fees on a single late payment. The rules take effect Aug. 22. The Associated Press
