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.
  • December 11, 2018
    Trillions of dollars in financial agreements are processed each year. This includes credit agreements, loan/lease agreements, new account openings, mortgages, pensions and annuities. Despite the rise of digital adoption within consumer industries, the majority of these financial agreements still rely on manual, semi-manual or disjointed paper processes. Today’s financial services customer is...
  • May 17, 2018
    May 17, 2018 Hon. Joseph J. Simons Hon. Maureen K. Ohlhausen Chairman Commissioner Federal Trade Commission Federal Trade Commission 600 Pennsylvania Avenue, NW 600 Pennsylvania Avenue, NW Washington, DC 20580 Washington, DC 20580 Hon. Rohit Chopra Hon. Rebecca K. Slaughter Commissioner Commissioner Federal Trade Commission Federal Trade Commission 600 Pennsylvania Avenue, NW 600 Pennsylvania...
  • February 24, 2018
    Is alternative credit data the missing link between underestimated consumers and access to credit? Consumers with poor traditional credit scores can often be misclassified as marginal or subprime, and many consumers who lack an established credit history are considered ‘unscorable’. By providing the additional insight needed to more predictively evaluate the risk of these consumers, alternative...
  • February 12, 2018
    Consumer Financial Protection Bureau Attention: Office of Financial Education 1700 G Street NW Washington, D.C. 20552 Re: Request for Information Regarding Consumers’ Experience with Free Access to Credit Scores Docket No. CFPB-2017-0037 82 FR 52284 (November 13, 2017) Dear Sir or Madam, The American Bankers Association [1] and Consumer Bankers Association [2] (collectively, the Associations) are...
  • August 30, 2017
    On Wednesday, August 30, 2017, the CFPB announced its annual adjustments to the dollar amounts of certain thresholds under the Truth in Lending Act (TILA) appling to consumer credit transactions starting in 2018. The adjustments are based on the annual percentage change in the Consumer Price Index. The notice addresses the thresholds related to the minimum interest charge and safe harbor penalty...
  • August 23, 2017
    CFPB Takes Action against American Express Subsidiaries On Wednesday, August 23, 2017, the CFPB took action against two American Express banking subsidiaries for allegedly discriminating against consumers in Puerto Rico, the U.S. Virgin Islands, and other U.S. territories. The agency claims the companies provided consumers with credit and charge card terms inferior to those available in the 50...
  • June 8, 2017
    Monica Jackson Office of the Executive Secretary Consumer Financial Protection Bureau 1700 G Street NW Washington, DC 20552 Re: Request for Information Regarding Credit Card Market Docket No. CFPB-2017-0006 Dear Ms. Jackson: The Financial Services Roundtable 1 and the Consumer Bankers Association 2 (the “Associations”) appreciate the opportunity to provide comments on the Consumer Financial...
  • June 8, 2017
    On Thursday, June 8, 2017, the CFPB announced it had sent letters to top retail credit card companies encouraging the use of more transparent transactions. The letter addresses the agency’s concerns with retailers using deferred-interest promotions for credit cards. “With its back-end pricing, deferred interest can make the potential costs to consumers more confusing and less transparent,” said...

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