Consumer Financial Protection Bureau needs your input on consumer credit card markets!

The Consumer Financial Protection Bureau (CFPB) issued a request for information seeking public feedback on how the consumer credit market is functioning as part of a biennial review of the industry.

Congress enacted the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act) to establish fair and transparent practices related to the extension of credit in the credit card market. The CARD Act mandates the CFPB to conduct a review of the credit card industry every two years and report to Congress.

The CFPB is interested in hearing about your overall experiences with credit card products, including:

  • Terms of credit card agreements and the practices of credit card issuers
  • Effectiveness of disclosure of terms, fees, and other expenses of credit card plans
  • Adequacy of protections against unfair or deceptive acts or practices relating to credit card plans
  • Cost and availability of consumer credit cards
  • Safety and soundness of credit card issuers
  • Use of risk-based pricing for consumer credit cards
  • Consumer credit card product innovation

The public has until April 24, 2023 to submit comments.

Submit Comments Here!