Here’s an interesting look at the inner workings of the Consumer Advisory Council, which is supposed to advise the Federal Reserve on consumer protection
“„Edna Sawady, CAC chairwoman: Last month, the Board issued a proposed rule to implement the provisions of the Credit Card Act that go into effect on February 22, 2010. I’m sure you will get a kick out of the date, because you’ll hear a lot of discussion of what’s going to happen on February 22, 2010. I’ll just give you a sneak preview — don’t go to the grocery store.
“„Kevin Rhein, Wells Fargo executive: Or buy gas or anything else.