Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
Do Gift Cards Keep on Giving How the Law Affects the Consumer, the Retailer and the State
On September 5, the U.S. Department of Transportation (DOT) initiated an inquiry into the rewards programs of the four largest U.S. airlines to investigate potential unfair, deceptive, or anticompetitive practices. Secretary...more
In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more
On May 9, the CFPB issued a report on credit card rewards programs which highlighted the CFPB’s views on issues affecting millions of consumers. The report opened with a note that the CFPB received over 1,200 complaints...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • CFPB Reports “Doom Loops” and Other Harmful Practices in...more
On May 9, 2024, the CFPB released a comprehensive report detailing its findings on challenges reported by consumers regarding their credit card rewards programs. This report, as well as remarks made by CFPB Director Rohit...more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new Issue Spotlight regarding growing problems in the credit card rewards program industry....more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) published a report highlighting common themes in complaints received from consumers, including mismatches between marketing and actual terms, devaluations of...more
The CFPB issued a report detailing the issues faced by consumers regarding credit card rewards programs and reminding credit card industry stakeholders that federal consumer protection laws—including the Consumer Financial...more
In another move highlighting the Consumer Financial Protection Bureau's (the “Bureau” or “CFPB”) continued focus on the payments space, the CFPB has issued a new report finding consumers are encountering numerous problems...more
On May 9, the CFPB issued a new report highlighting the issues consumers encounter with credit card rewards programs. The report was released in conjunction with a hearing co-hosted with the Department of Transportation and...more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Transportation (DoT) held a 98-minute joint hearing on airline and credit card rewards programs. CFPB Deputy Director Zixta Martinez...more
This week, the Consumer Financial Protection Bureau (CFPB or Bureau) published an Issue Spotlight focusing on consumer complaints relating to credit card rewards programs. The report notes that credit card companies often...more
In furtherance of the Biden Administration’s “junk fee” agenda, on Thursday, May 9, 2024, the Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card...more
The goal of value-based care (VBC) is to promote better care for individual patients and improved health outcomes for communities at reduced costs. This is an important and admirable purpose as many VBC stakeholders attempt...more
The theme of International Women’s Day this year is “Inspire Inclusion.” While it is important to consider the inclusivity and diversity of our workplaces year-round, IWD — which takes place annually on March 8 — is a perfect...more
Employee engagement has been a buzzword over the last few years, and with good reason – it’s how we retain and promote our best employees. But how does it actually work? What are the mechanics behind your efforts? HR...more
Recent headlines on a lawsuit against American Airlines for loyalty account closures give us a good excuse to examine this issue. A loyalty program or rewards program, two different names for the same thing, is a popular tool...more
If your business offers a loyalty program in conjunction with a gift card, you likely already know that Section 520-e of New York’s General Business Law took effect December 10, 2023. This new law gives consumers a set grace...more
After a two-year waiting period, a New York law requiring notice of certain credit card account and rewards program changes and a 90-day grace period to use credit card rewards has become effective. See N.Y. Gen. Business Law...more
Rewards programs have become ubiquitous in recent years. These so-called loyalty management programs exist to nudge customers or employees in a particular direction; a company’s workers might be inclined to exercise more...more
On June 27, 2023, the Tax Court of Canada (“TCC”) dismissed the appeal of a Schedule II bank (the “Bank”) regarding its entitlement to input tax credits (“ITCs”) for GST/HST payable on expenses incurred in connection with the...more
Part Two of our series on junk fees highlights recent regulatory, enforcement, and private action trends. Not only has the CFPB and FTC issued proposed rulemaking and guidance warnings against certain types of fee practices,...more
This week’s “vacation edition” Update features only two stories, the subjects of which have been featured in prior Updates. We will be back with our regular Updates next week!...more
On December 10, 2023, New York General Business Law § 520-e requiring a grace period for the use of credit card rewards points will go into effect. Specifically, the legislation provides that if any credit card rewards...more
Are your employees merely engaged, or are they genuinely experiencing their work and enjoying it? When comparing employee engagement vs. experience, you might think that taking care of one thing is enough, but you must...more