CFPB Opens Public Inquiry Into Credit Card Industry

Law360, New York (March 17, 2015, 3:59 PM EDT) -- The Consumer Financial Protection Bureau on Tuesday announced that it was opening a public inquiry into the credit card industry, with a focus on credit card terms, debt collection practices and disclosures on consumers and the industry.

The CFPB’s review will look at how the industry has changed since the last time the bureau looked at it, and could be used to shape future policy for the industry. The CFPB has taken several aggressive actions against credit card firms, including American Express Co., Capital One Financial...
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