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MoFo Reenforcement The Enforcement Blog

CFPB Issues Statement on Supervisory and Enforcement Practices Regarding Electronic Credit Card Disclosures in Light of the COVID-19 Pandemic

Posted in CFPB, Regulatory Developments

The Consumer Financial Protection Bureau (CFPB) issued a Statement on Supervisory and Enforcement Practices Regarding Electronic Credit Card Disclosures in Light of the COVID-19 Pandemic under the Truth in Lending Act, its implementing Regulation Z, and the Electronic Signatures in Global and National Commerce Act. The CFPB’s Statement provides temporary supervisory and enforcement flexibility for credit card issuers regarding the electronic delivery of account-opening disclosures and temporary rate or fee reduction disclosures during the COVID-19 pandemic.

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