On October 19th, the Federal Reserve published for comment proposed amendments to Regulation Z (Truth in Lending) to clarify the rules implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009. The proposal clarifies that promotional programs waiving interest charges for a specified period of time are subject to the same rules as promotional programs that apply a reduced rate for a specified period; application and similar fees that a consumer is required to pay before a credit card account is opened are covered by the same limitations as fees charged during the first year after the account is opened; and when evaluating a consumer's ability to make required payments before opening a new credit card account or increasing the credit limit on an existing account, card issuers must consider information regarding the consumer's independent income, rather than his or her household income. Comments should be submitted within 60 days after publication in the Federal Register, which is expected during the week of October 25th. Federal Reserve Board Press Release.