CFPB targets credit card fees
CFPB Director Rohit Chopra today announced an advance notice of proposed rulemaking focusing on credit card late fees.
Tag: Credit cards
Survey: Consumers worried about continued Fed rate hikes
The cost of existing credit card debt continues to rise as the Federal Reserve has increased interest rates this year—so ...
Consumers pay down less credit card debt in Q1 2022
Consumers paid down $13.2 billion in credit card debt in the first quarter of 2022, 76% less than the same ...
J.D. Power: Satisfaction with credit card apps falls as usage rises
Most customers are dissatisfied with their credit card mobile apps and online options, according to recent studies by J.D. Power. ...
Fed survey: business lending standards largely unchanged amid rising demand
Lending standards for business loans remained largely unchanged in the first quarter of 2022, according to the Federal Reserve’s senior ...
ABA report: Credit card market recovery continued in Q4 2021
In a sign of continuing U.S. consumer strength, monthly credit card purchase volumes rose across risk tiers in last year’s ...
Senate hearing rekindles debate over Durbin amendment
At a Senate Judiciary Committee hearing, banking, credit card industry representatives and some lawmakers pushed back against proposals to expand interchange ...
CFPB report flags auto servicing, consumer reporting issues
The CFPB issued a “Supervisory Highlights” report focusing on recent examiner observations of several financial products.
How Competitive Is the Credit Card Market?
A look at the card market shows robust competition among card networks and issuers.
CFPB Releases Report on Credit Card Fees
Credit card late fees account for over half of the credit card market’s total consumer fees, according to a report ...
