ALEXANDRIA, Va. (5/23/08)--The National Credit Union Administration (NCUA) Board was briefed Thursday on a recently approved proposal that would restrict certain practices for credit cards and overdraft protection plans by designating them as “unfair and deceptive practices.” No action was taken at the meeting on the proposal since it already has been approved. The NCUA will receive comments on it until Aug. 4. NCUA, the Federal Reserve Board, and the Office of Thrift Supervision proposed the rules to crack down on deceptive credit card practices. The proposed rules address credit card billing, payment and overdraft policies. They also address unfair practices such as providing insufficient time to make payments. Other credit card practices targeted in the rules include failing to provide reasonable allocation of payments among balances with different interest rates and retroactively applying interest rate increases to pre-existing balances. The recommendation also would require a federal credit union to provide an opportunity for a consumer to opt out of an overdraft protection program, and would prohibit a federal credit union from charging a fee for an overdraft caused by a hold placed on consumer funds in connection with the use of a debit card.