Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Next CFPB Field Hearing Studies Credit Cards
WASHINGTON (9/20/13)--The Consumer Financial Protection Bureau (CFPB) has announced a Chicago field hearing on credit cards for Oct. 2.
 
The session will be kicked off by CFPB Director Richard Cordray's remarks and the field hearing will gather testimony from consumer groups, credit card industry representatives, and members of the public.
 
While open to the public, attendance requires a reservation via this email address: cfpb.events@cfpb.gov. The communication should include full name and organizational affiliation, if any.
 
Making credit cards disclosures more consumer friendly has been a key
Click to view larger image In December 2011, the Consumer Financial Protection Bureau released a sample credit card disclosure form intended to help consumers understand the terms of a card agreement.
interest of the CFPB for years.
 
Late in 2011, under its "Know Before You Owe" initiative, the CFPB released a sample credit card disclosure, a two-page document the agency said "contains the key terms consumers need, clearly laid out and without fine print." The CFPB said its initiative will simplify contracts to help consumers better understand their credit cards while allowing card issuers to retain their freedom to design credit card products.

Also, the CFPB maintains a database of credit card agreements from more than 300 card issuers. Consumers can use a CFPB web-based tool to search for an agreement in one of two ways: by the name of the issuer, or by the text within the agreement.


RSS print
News Now LiveWire
July 's Fed Bank's "FedFocus" has some interesting articles: incl cost/benefits of $1 currency 2 coin conversion ttp://tinyurl.com/nybmnhh
5 hours ago
Do you wish you were a News Now subscriber? Go here: http://t.co/7evfBSjeMx
5 hours ago
Financial education for student body key part of Altura #creditunion, UC-Riverside partnership #NewsNow http://t.co/Xp6OJd66o6
6 hours ago
.@VTcreditunions gains 200 new FB followers in just 2 wks to reach 1,000 http://t.co/I89xJcv4Jg
6 hours ago
.@CUNA is testifying on reg relief Tues,July 15 at 2 p.m. be4 Hs Fin Serv Subc. Here is the agenda and witness list: http://t.co/yBRhlmdqHt
9 hours ago