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 19, 2014CFPB Issues Report on College Credit Card Agreements On Monday, December 14, 2014, the CFPB released its second annual report to Congress on "College credit card agreements." The Credit Card Accountability, Responsibility and Disclosure Act ("CARD Act") requires the Bureau to submit to Congress an annual report listing information submitted to the Bureau concerning agreements between credit card...
December 19, 2014CFPB Issues Report on College Credit Card Agreements On Monday, December 14, 2014, the CFPB released its second annual report to Congress on "College credit card agreements." The Credit Card Accountability, Responsibility and Disclosure Act ("CARD Act") requires the Bureau to submit to Congress an annual report listing information submitted to the Bureau concerning agreements between credit card...
September 12, 2014Home Depot Breach Verified – Brace for Impact This week we learned what many of us had feared -- the mother of all breaches is upon us with the verification of Home Depot's lapsed security. Already many of our banks have identified patterns of behavior consistent with a data breach in certain geographical areas. While fraud seems limited at this moment, cyber-criminals could begin dumping...
June 27, 2014CFPB Orders GE Capital to Pay $225 Million to Consumers On Thursday, June 19, 2014, the CFPB ordered GE Capital, now known as Synchrony Bank, to pay $225 million to consumers who were “harmed by illegal and discriminatory credit card practices.” The Bureau allocated $56 million to approximately 638,000 consumers who were “subjected to deceptive marketing practices,” and $169 million to roughly...Pages
Joint Comment Letter to OMB re: CFPB Telephone Survey on Exploring Consumer Awareness of and Perceptions Regarding Dispute Resolution Provisions in Credit Card Agreements