Identity theft is a serious and growing problem. The Federal Reserve and other agencies are proposing rules that would require financial institutions and creditors to establish programs to combat the crime.

Banking and credit agencies have proposed clarifications to some recently enacted rules. The clarifications would prohibit certain credit card practices and improve the disclosures consumers receive about credit card accounts and other revolving credit card plans.

The Fed has proposed rules to prohibit unfair practices concerning credit card and overdraft services. Among other safeguards, the rules would protect consumers from unexpected interest rate increases on pre-existing card balances.