Policy & Legislation
Deregulation has created a world where credit card issuers construct the terms, rules, and practices in their contracts without the check of meaningful lawas and consumer protections. In a hobbled economy and as American credit card debt approaches one trillion dollars, the legislative and regulatory landscape must restore balance and fairness.
Browse Credit Cards - Policy & Legislation
- CRL tells CFPB the CARD Act Works, Encourages Risk-based Pricing
February 19, 2013
Comments submitted by the Center for Responsible Lending to the Consumer Financial Protection Bureau in response to the Request for Information Regarding Credit Card Market. The CARD Act has made pricing clearer without restricting credit, raising its cost or curbing the ability of card issuers to price for risk. Contrary to curbing risk-based pricing, the CARD Act encourages risk-based pricing.
- CRL Tells CFPB: Prepaid Cards Lack Consumer Protections
July 24, 2012
The CFPB should prohibit overdraft and credit features on prepaid cards.
- Are prepaid credit cards helping or hurting consumers?
May 25, 2012
Martin Eakes remarks on prepaid cards before a CFPB field hearing.
- Highlights of the New Credit Card Rules: What They Do and Don’t Do
January 26, 2012
Credit CARD Act of 2009 – Learn what the law does and does not cover.
- Comment: Potential Violations of the Credit CARD Act
July 7, 2010
CRL and consumer coalition express concerns about credit card issuer potential violations of the the Credit CARD Act of 2009. Problems related to penalty rate disclosures, variable rates, payment allocation and pick-a-rate are cited.
- Comments on Proposed Reg Z Rules Re Implementation of Credit Card Act Provisions
April 14, 2010
CRL and other consumer groups comments to the Federal Reserve on proposed credit card rules related to the implementation of the Credit CARD Act and penalty rates and fee increases.
- Testimony of Kathleen Keest In Regards To HR 2309
May 12, 2009
Testimony of Kathleen E. Keest on behalf of the Center for Responsible Lending, Consumer Federation of America, and the National Consumer Law Center before the Subcommittee on Commerce, Trade and Consumer Protection Committee on Energy and Commerce in regards to H.R. 2309: The Consumer Credit and Debt Protection Act.
- Congressional Research Service Memo re H.R. 627
May 12, 2009
This memorandum provides a comparative analysis of H.R. 627 (the Credit Cardholders’ Bill of Rights Act of 2009), as passed by the House on April 30, 2009, and the amendment in the nature of a substitute prepared by the Senate Banking Committee.
- Comment: Unfair or Deceptive Practices with Respect to Credit Cards
August 4, 2008
Comments on Federal Reserve Board proposals regarding unfair and deceptive credit card practices, August 4, 2008.
- Improving Credit Card Consumer Protection: Recent Industry and Regulatory Initiatives
June 7, 2007
Testimony before the U.S. House of Representatives Committee on Financial Services