Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Next CFPB Field Hearing Studies Credit Cards
WASHINGTON (9/20/13)--The Consumer Financial Protection Bureau (CFPB) has announced a Chicago field hearing on credit cards for Oct. 2.
 
The session will be kicked off by CFPB Director Richard Cordray's remarks and the field hearing will gather testimony from consumer groups, credit card industry representatives, and members of the public.
 
While open to the public, attendance requires a reservation via this email address: cfpb.events@cfpb.gov. The communication should include full name and organizational affiliation, if any.
 
Making credit cards disclosures more consumer friendly has been a key
Click to view larger image In December 2011, the Consumer Financial Protection Bureau released a sample credit card disclosure form intended to help consumers understand the terms of a card agreement.
interest of the CFPB for years.
 
Late in 2011, under its "Know Before You Owe" initiative, the CFPB released a sample credit card disclosure, a two-page document the agency said "contains the key terms consumers need, clearly laid out and without fine print." The CFPB said its initiative will simplify contracts to help consumers better understand their credit cards while allowing card issuers to retain their freedom to design credit card products.

Also, the CFPB maintains a database of credit card agreements from more than 300 card issuers. Consumers can use a CFPB web-based tool to search for an agreement in one of two ways: by the name of the issuer, or by the text within the agreement.


RSS print
News Now LiveWire
Today's #NewsNow preview of @CUNA board chair Dennis Pierce's testimony before @SenateBanking http://t.co/XgQ81Fn7wR
48 minutes ago
Fazio: @TheNCUA supports Privacy Notice Modernization Act, which allows FIs to send privacy policy notifications only when policy is changed
53 minutes ago
Fazio: Hard to give timeline for when NCUA risk-based capital rule will be finalized...I can say it's the agency's top reg. priority
57 minutes ago
(2of2) NCUA is aware of importance of scaling regulatory, supervisory and assistance prgrms to address unique circumstances of small CUs.
1 hours ago
.@TheNCUA's Larry Fazio: W/ 1/3 of CUs having less than $10M in assets and 2/3 of CUs having less than $50M in assets...(1of2)
1 hours ago