Changes Provide More Flexibility and Extend Effective Date to April 2019
Proposal Would Adjust Error Resolution Requirements and Provide More Flexibility for Credit Cards Linked to Digital Wallets
Consumer Financial Protection Bureau Announces Annual Dollar Thresholds in Truth in Lending Act Regulations for Certain Credit Transactions
Thresholds Apply to Transactions under the CARD Act, HOEPA, and Ability-to-Repay Mortgage Rule
Concerns Remain About Other Back-End Practices Such As Deferred-Interest Promotions WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) today released a report detailing how the Credit Card Accountability Responsibility and Disclosure Act (CARD Act) has helped reduce the cost of “gotcha” credit card fees by more than $16 billion. Since the reform law, total […]
We were in Chicago for a field hearing on credit cards. We heard remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The live event has now ended, but a recording of the event is available.
This afternoon, Professor Warren spoke at an event celebrating the 75th anniversary of Consumers Union. During her speech, she spoke about the CFPB’s emphasis on clear prices and risks, which will help consumers make the choices that are best for themselves and their families. She also announced a conference one week from today on the […]