Late fees for financial products, when charged appropriately, incentivize timely payment and good financial management, ABA and three other financial trade groups told the CFPB in response to a recent request for information.
Following the onset of the COVID-19 pandemic, credit card debt fell to $811 billion in the second quarter of 2020, before rising to $825 billion by the end of the year, the largest six-month decline on record, according to the biennial Credit CARD Act report released by the CFPB today.
Credit cards offered in conjunction with colleges, universities and affiliated organizations have continued to decline…
Acting Consumer Financial Protection Bureau Director Dave Uejio today signaled that the bureau may move to reconsider recent final rulemakings on Qualified Mortgages and debt collection.
The Consumer Financial Protection Bureau is beginning its biennial review of the consumer credit card market, as mandated by the Credit CARD Act. The next report is due in 2021.
The 2009 Credit CARD Act may have hindered young adults’ ability to build credit histories, according to a new paper released by the Federal Reserve Bank of Boston.
Demand for credit cards remains relatively stable and banks are introducing new technologies like AI and chatbots into the payments experience, according to the biennial Credit CARD Act report released by the Consumer Financial Protection Bureau today.
The Consumer Financial Protection Bureau announced 2020 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act.
ABA yesterday urged the Consumer Financial Protection Bureau to use its authority to update outdated disclosure rules to meet the needs of consumers and facilitate seamless digital payment experiences.
The Consumer Financial Protection Bureau today announced 2018 changes in dollar thresholds for several Regulation Z provisions governed by the CARD Act, the Home Ownership and Equity Protection Act and the Dodd-Frank Act. The thresholds are based on changes in the Consumer Price Index.