Credit Card Disclosures

Credit cards are an integral part of many consumers’ financial management portfolios. To aid our corporate members, CBA offers a full range of educational opportunities through our Committees, promoting best credit card disclosure practices and forming a link between Washington and the CBA membership to educate bankers and create a basis for CBA’s policy positions.
  • June 30, 2014
    Bureau of Consumer Financial Protection Attention: PRA Office Re: Docket No. CFPB-2014-0011 ​Office of Management and Budget Control Number 3170 XXXX: Telephone Survey Exploring Consumer Awareness of and Perceptions Regarding Dispute Resolution Provisions in Credit Card Agreements. Ladies and Gentlemen: The American Bankers Association, the Consumer Bankers Association, and the Financial Services...
  • June 27, 2014
    CBA/AOL Finance Optimism Index Increases Slightly for May The CBA/AOL monthly Finance Optimism Index has found Americans’ finance optimism improved slightly in May to -4.0. This is an improvement of +0.8 from April. Perceptions around personal financial future and consumer’s current financial situations remained relatively steady. The largest change in this month’s findings came from consumers...
  • June 27, 2014
    CBA/AOL Finance Optimism Index Increases Slightly for May The CBA/AOL monthly Finance Optimism Index has found Americans’ finance optimism improved slightly in May to -4.0. This is an improvement of +0.8 from April. Perceptions around personal financial future and consumer’s current financial situations remained relatively steady. The largest change in this month’s findings came from consumers...
  • June 27, 2014
    CFPB Orders GE Capital to Pay $225 Million to Consumers On Thursday, June 19, 2014, the CFPB ordered GE Capital, now known as Synchrony Bank, to pay $225 million to consumers who were “harmed by illegal and discriminatory credit card practices.” The Bureau allocated $56 million to approximately 638,000 consumers who were “subjected to deceptive marketing practices,” and $169 million to roughly...
  • June 20, 2014
    OIG of the Federal Reserve Board and CFPB issues Work Plan On Monday, June 16, 2014 the Office of the Inspector General (OIG) of the Federal Reserve Board and CFPB issued a Work Plan outlining audits and evaluations it is conducting or plans to conduct in the near future. The following is a list of the items relevant to the CFPB, divided into Ongoing Projects and Planned Projects. CFPB: Ongoing...
  • April 11, 2014
    Chairman Threatens CFPB Subpoena for Discrimination Investigation On Thursday, April 10, 2014, Chairman of the House Financial Services Subcommittee on Oversight and Investigation Patrick McHenry, sent a letter to CFPB Director Cordray informing him of the Committee’s plans to hold additional hearings on allegations of discrimination at the CFPB. Rep. McHenry cautioned that should Director...

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