Troubleshooting Credit Card Data Policies

Law360, New York (February 7, 2012, 5:47 PM EST) -- On Jan. 30, 2012, the American Bankers Association delivered a comment letter to the Consumer Financial Protection Bureau in which it expressed strong disagreement with the CFPB’s proposed policy statement on "Disclosure of Certain Credit Card Complaint Data."

The ABA expressed concern that the complaint data will not help and may actually mislead consumers because it is “incomplete, unrepresentative, and unverified.” The ABA also argued that the proposed policy “undermines a core mission of the Bureau and impugns its supervisory responsibilities.”

We agree with many of the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.