WASHINGTON — During last week's meeting, the Federal Reserve Board issued a proposal intended to improve the disclosures provided to consumers with credit cards and other revolving credit plans.

"The goal of the proposed revisions is to make sure that consumers get key information about credit card terms in a clear and conspicuous format and at a time when it would be most useful to them," Federal Reserve Board Chairman Ben S. Bernanke commented. "Greater clarity in credit disclosures allows consumers to make more-informed credit decisions and enhances competition among credit card issuers."

Reg Z disclosures have undergone more than two years of public comment through advance notices and consumer testing. The proposed amendments principally focus on the rules for open-end credit accounts that are not home secured, mainly general purpose and retail credit card plans. The proposal would require changes to the format, timing, and content requirements for credit card applications and solicitations and for the disclosures that consumers receive throughout the life of an open-end account, including account-opening and periodic statements.