The Bureau proposes to amend Regulation Z to better ensure that the late fees charged on credit card accounts are “reasonable and proportional.” to the late payment.
The notices listed below are currently open for public comment. For each notice, click through to view the Federal Register notice where you can read the full notice and select the “Submit a formal comment” option to contribute.
The Credit CARD Act requires the Bureau to conduct a review of the consumer credit card market, within the limits of its existing resources available for reporting purposes. In connection with conducting that review, and in accordance with the act, the Bureau is soliciting information from the public about a number of aspects of the consumer credit card market.
The CFPB is seeking information on credit card late fees and late payments, and card issuers’ revenue and expenses.