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Credit Card Disclosures
Credit cards are an integral part of many consumers’ financial management portfolios. To aid our corporate members, CBA offers a full range of educational opportunities through our Committees, promoting best credit card disclosure practices and forming a link between Washington and the CBA membership to educate bankers and create a basis for CBA’s policy positions.
- April 11, 2014Chairman Threatens CFPB Subpoena for Discrimination Investigation On Thursday, April 10, 2014, Chairman of the House Financial Services Subcommittee on Oversight and Investigation Patrick McHenry, sent a letter to CFPB Director Cordray informing him of the Committee’s plans to hold additional hearings on allegations of discrimination at the CFPB. Rep. McHenry cautioned that should Director...
- April 9, 2014February 28, 2014February 28, 2014CBA Issues Comment Letter on Debt Collection ANPR On Friday, February 28, 2014, CBA and other trade groups will respond to the CFPB’s Advanced Notice of Proposed Rulemaking (ANPR) on debt collections. In its notice, the Bureau cites it is the first agency with the authority to issue substantive rules under the Fair Debt Collection Practices Act (FDCPA), a law governing the practices of third-...February 27, 2014February 27, 2014February 26, 2014January 10, 2014CFPB Releases Mortgage Resources On Tuesday, January 7, 2014, the CFPB released new consumer resources on mortgage rules, many of which take effect today, January 10, 2014. As part of the CFPB’s campaign to educate consumers on the new rules, these resources include sample letters consumers can send to their mortgage servicers, mortgage tips, FAQs, factsheets, and other consumer tools. “Taking...October 11, 2013Enforcement Attorneys Will Not be Present at CFPB Examinations On Wednesday, October 9, 2013, The Wall Street Journal reported that the Consumer Financial Protection Bureau (CFPB) indicated it is changing its policy regarding enforcement attorney involvement in the examination process. Beginning November 1, 2013, CFPB enforcement attorneys will no longer be present at examinations. Industry...October 4, 2013CFPB Releases Second Annual CARD Act Report On Wednesday, October 2, 2013, the CFPB issued a report on the effects the Credit Card Accountability Responsibility and Disclosure (CARD) Act has had on the consumer credit card market. The report details how the Act has reduced penalty fees and made the cost of credit cards clearer to consumers. The report found the total cost of credit declined by...