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
Housing starts swell in July #NewsNow #Market http://t.co/EdKIhXEj9l
9 hours ago
Consumer inflation tapers after spring surge #NewsNow #Market http://t.co/bgvQd8fyuF
9 hours ago
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
10 hours ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
11 hours ago
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
13 hours ago