CFPB Sets Stage For New Credit Card Regulations

Law360, New York (October 2, 2013, 7:18 PM EDT) -- Although a 2009 law eliminated many credit card fees and rate changes that critics said trapped consumers in debt, the Consumer Financial Protection Bureau said Wednesday that it was looking to target remaining fees, rewards programs and online disclosures, signaling a new push to further rein in the industry.

The CFPB found that, overall, the 2009 Credit Card Accountability, Responsibility and Disclosure Act had resulted in lower credit card payments for consumers while all but eliminating fees for being over credit limits, shrinking late fees and...
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