CFPB Eases Credit Card Rules For Stay-At-Home Spouses

Law360, New York (April 29, 2013, 6:05 PM EDT) -- The Consumer Financial Protection Bureau on Monday made it easier for stay-at-home spouses and partners to get access to credit by allowing them to rely on shared income and joint accounts when applying for credit cards.

The final rule amends a provision in the 2009 Credit Card Accountability and Disclosure Act that required banks and other credit card issuers to base their evaluations of whether a person could afford to open a credit card account solely on the income they earned by themselves, not income generated...
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