Card Act Report: The CFPB Departs from Precedent
Author: Robin Nunn.; Jonathan Engel.; Chris Chamness.; Adam Maarec.
Source: Volume 34, Number 03, March 2018 , pp.29-32(4)
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Abstract:
The authors discuss the 2017 CFPB Card Act report with regard to balance transfers, deferred interest products, loyalty and rewards programs, debt collection and late fees, and third-party comparison sites. They conclude that the tone of the report suggests that the CFPB is pivoting away from using the report as a platform to identify problematic practices in the card industry.Keywords: Third-Party Comparison Sites (“TPCS”); Deferred Interest Products (“DIPs”); “The Consumer Credit Card Market”
Affiliations:
1: Davis Wright Tremaine; 2: DWT; 3: DWT; 4: DWT.