The Federal Reserve issued credit card rules in December 2008 that benefit borrowers by curbing unfair and abusive industry practices. The catch? The rules won't take effect until July 2010 while many Americans need relief now. Read CRL's comment letter to the Fed.
Browse Credit Cards - Policy & Legislation - Regulators
- 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.
- 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.
- Comments: Open-End Credit, Bankruptcy Amendments of 2005
December 16, 2005
Comment to Federal Reserve on proposals regarding Open-End Credit Implementation of the Bankruptcy Amendments of 2005, December 16, 2005.