CFPB Amends Card Act Rule To Make It Easier For Stay-At-Home Spouses And Partners To Get Credit Cards

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The CFPB has updated existing regulations to make it easier for spouses or partners who do not work outside of the home to qualify for credit cards. The amendment allows credit card issuers to consider income that a stay-at-home applicant, who is 21 or older, shares with a spouse or partner when evaluating the applicant for a new account or increased credit limit.

Check dodd-frank.com frequently for updated information on the JOBS Act, the Dodd-Frank Act and other important securities law matters.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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