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CBA counters CFPB information about CARD Act Report

CFPB Monitor

The Consumer Bankers Association has launched a four-part blog series “Facts Matter” to counter what it calls “misinformation conveyed by the CFPB” in its press release about the CFPB’s October 2023 report (Report) under the Credit Card Accountability Responsibility and Disclosure Act (CARD Act). Continue Reading

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Why the CCCA is ‘ill-informed’

Payments Dive

A payments processing consultant argues that the Credit Card Competition Act isn’t the way to spur more competition in the industry.

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CFPB issues request for information on consumer credit card market

CFPB Monitor

The CFPB has issued a new request for information (RFI) to inform its biennial review of the credit card market mandated by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act). Comments on the RFI must be received by April 24, 2023.

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CFPB seeks to improve credit card transparency

Payments Dive

The agency wants to give consumers more information from credit card issuers so that it’s easier to compare the cards’ offers, especially their interest rates.

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CBA issues second blog post countering CFPB information about CARD Act report

CFPB Monitor

In the second blog post, CBA “explains how the [CFPB’s] public statements can mislead market observers by painting an inaccurate picture of the credit card marketplace.”

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CFPB seeks more credit card transparency

Payments Dive

The Consumer Financial Protection Bureau is considering requiring top credit card issuers to share more information on their products to increase transparency for consumers.

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SIA, INFORM Team Up To Advance Digital Payments Authentication

PYMNTS

European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe.

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