If you want more information on the provisions that will go into effect, go to www.consumer-action.org. In the search field, type in "New credit card provisions."

-- Credit reports. Every person is entitled to a free credit report every 12 months from each of the three nationwide consumer-reporting agencies -- Equifax, Experian and TransUnion. By Feb. 22, the Federal Trade Commission has to come up with changes to the rule governing this access to prevent deceptive marketing of the credit reports.

The FTC has one proposal that would prohibit the credit bureaus from offering any product or service until after consumers get their free reports. The law currently permits the credit reporting agencies to advertise their proprietary products and services through the centralized source, in this case AnnualCreditReport.com.

It would be great if the FTC could prevent the marketing of any products by the credit bureaus before, during and even after the process of getting a free credit report. By the way, the FTC is lowering from $11 to $10.50 the maximum amount that consumer reporting agencies are allowed to charge consumers for an extra copy of their credit reports.

-- Overdraft protection. For some, what's called overdraft protection has turned into a financial nightmare. By next summer, financial institutions will be prohibited from charging customers overdraft fees on ATM and debit card transactions unless consumers have given their informed consent to be assessed such charges. Institutions have a mandatory compliance date of July 1.

As part of the rule change, existing and new account holders will be sent a notice telling them that if they want overdraft protection for ATM and one-time debit-card transactions, they have to opt in. The notice has to explain the financial institution's overdraft services, including the fees associated with the service, and the consumer's choices. The institutions are required to provide written confirmation of your opt-in choice.

Here's wishing that 2010 will be the beginning of pro-consumer rules that will keep many people from financial hardship in coming years.