Four Democratic Senators, including Charles Schumer of New York, Jack Reed of Rhode Island, Bill Nelson of Florida and Robert Menendez of New Jersey, forwarded a notice to Federal Reserve chairman, Ben Bernanke, asking for increased transparency in advertising for business credit cards.
The Senators are looking for card issuers to disclose upfront in their marketing that that they are, in fact, offering a business credit card, which does not offer the same consumer protections afforded to traditional credit cards as outlined in the recent CARD Act legislation. Senators would like to see applicants supply a business tax identification number in the application process as well.
Source: http://www.sfexaminer.com/politics/2011/06/senators-call-business-credit-card-safeguards
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