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Statement for the Record Of Marla Blow, Assistant Director, Card and Payment Markets Consumer Financial Protection Bureau Before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit June 29, 2012 On behalf of the Consumer Financial Protection Bureau (CFPB or Bureau), thank you for the opportunity to provide this statement for the record [...]
A credit card agreement is a document that lays out the terms and features of a credit card. Millions of times every year, financial institutions send out these agreements to consumers. And every year, millions of consumers receive the agreements and do not read them. We believe it is important to make these contracts less [...]
Yesterday’s CARD Act conference commemorated the first anniversary of the day when many provisions of the Credit CARD Act went into effect. Industry executives, leading academics, consumer advocates, government officials, and the CFPB convened to review changes in the card industry since the Act. In conjunction with the conference, the CFPB commissioned a survey to [...]
