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CFPB Seeks Input On Card Act's Impact

Posted on 12/20/2012

The CFPB is seeking public comment from credit card issuers, consumers, industry analysts, consumer advocates, and others on how the 2009 Credit Card Act has affected consumers' daily lives and industry behavior. The Act requires the CFPB to conduct a review of the consumer credit market.

The Bureau wants to know how the terms and conditions of credit card agreements have changed since the Credit Card Act went into effect, and how effective disclosures of rates, fees, and other cost terms have been. The CFPB also wants to examine how card issuers have changed their pricing, marketing, underwriting, and other practices as a result of the Act, and whether those changes have benefited or harmed consumers.

To read more visit: http://files.consumerfinance.gov/f/201212_cfpb_2012-0048.pdf



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