The Federal Reserve Board came under fire Tuesday in a report that evaluated what credit card issuers are required to tell customers about potential hikes in their interest rates.

The report, written by CardHub.com, a web site that lets consumers compare credit card offers, concluded that while card issuers are meeting the Fed's disclosure standards regarding the re-pricing of credit, those standards are inadequate. It blasted the Fed for omitting key consumer protections in its guidelines, such as what can trigger a rate increase for existing balances versus new transactions.

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