Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

CFPB Seeks Information on Credit Card Terms, Conditions, Fees

Jan. 24, 2023, 7:15 PM

The CFPB is seeking information from the public on recent changes in credit card market practices, terms and conditions as the financial regulator looks to rewrite rules for late payment fees.

The request in the Consumer Financial Protection Bureau’s biennial review of the credit card market, released Tuesday, calls for public input on issues ranging from lending practices to the effectiveness of rate and fees disclosures.

The agency particularly wants to know more about the use of risk-based pricing to offer credit cards to borrowers with lower credit scores and higher risk factors.

The report is a requirement of the ...