Credit card rule change could help stay-at-home parents - WKOW 27: Madison, WI Breaking News, Weather and Sports

Credit card rule change could help stay-at-home parents


WASHINGTON (WKOW) -- A rule change could help stay-at-home parents qualify for credit cards.

The current law requires credit cards issuers to consider applicants' individual income instead of household income when making lending decisions. That means even if stay at home parents have perfect credit, it may be difficult for them to get their own credit card. The Consumer Financial Protection Bureau's director says the proposed new rule would change that.

The agency is expected to propose the rule change before congress reconvenes in November.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WKOW. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service and Mobile Privacy Policy & Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Anna Engelhart at 608-661-2767. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at