News & Analysis as of

Credit Cards CARD Act Disclosure Requirements

Ballard Spahr LLP

In Rare Move, the CFPB Comes to the Defense of Bank

Ballard Spahr LLP on

In an unusual move, the CFPB is coming to the defense of a bank being accused of failing to provide repayment disclosures to a borrower....more

Ballard Spahr LLP

CFPB releases report on college credit card agreements

Ballard Spahr LLP on

The CFPB released its sixth annual report to Congress on college credit card agreements.  The annual report is mandated by the CARD Act. ...more

Ballard Spahr LLP

CFPB report highlights inadequate disclosure of campus financial products

Ballard Spahr LLP on

In its fifth annual report on college credit card agreements, the CFPB takes financial institutions as well as colleges and universities to task for failing to adequately disclose their marketing agreements for campus...more

Morrison & Foerster LLP

CFPB Brings First Enforcement Action Involving Deferred Interest Products, Imposes Novel and Burdensome Application Requirements...

Morrison & Foerster LLP on

Yesterday, the Consumer Financial Protection Bureau (“CFPB”) announced a consent order with GE Capital Retail Bank and its subsidiary CareCredit (collectively “CareCredit”) related to what the CFPB alleges were unfair and...more

Ballard Spahr LLP

Director Cordray confirms CFPB plans to examine credit card rewards programs

Ballard Spahr LLP on

According to a Bloomberg report by Carter Dougherty, Director Cordray confirmed last week that the CFPB will be looking at credit card rewards programs. Director Cordray is reported to have indicated that the CFPB will be...more

Morrison & Foerster LLP

CFPB Signals Additional Concerns about Consumer Credit Card Market with Report on CARD Act

Yesterday, the Consumer Financial Protection Bureau (“CFPB”) released the “CARD Act Report,” a report summarizing the CFPB’s views on the impact of the Credit Card Accountability Responsibility and Disclosure Act of 2009...more

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