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MoFo Reenforcement The Enforcement Blog

CFPB Finalizes Rule Suspending Quarterly Submission of Credit Card Agreements

Posted in CFPB, Credit Cards, Regulatory Developments

On April 15, 2015, the Consumer Financial Protection Bureau (CFPB) announced a final rule (“Final Rule”) that suspends for one year the requirement under the Truth in Lending Act and implemented by Regulation Z that credit card issuers submit their card agreements to the CFPB on a quarterly basis. The Final Rule adopts the February 2015 proposed rule and took effect immediately upon its April 17, 2015, publication in the Federal Register.

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