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MoFo Reenforcement The Enforcement Blog

CFPB Releases Fifth Report on the Consumer Credit Card Market

Posted in CFPB

On September 29, 2021, the Consumer Financial Protection Bureau released its fifth biennial report on the consumer credit card market. The Report summarizes the impact of the Credit Card Accountability Responsibility and Disclosure Act on the consumer credit card market. The Bureau issued the Report pursuant to the CARD Act’s requirement that the CFPB conduct a biennial review of this market.

The Report updates the results from the CFPB’s 2019 Report and details the CFPB’s recent review of the consumer credit card market, covering 2019–2020. The review also considered responses to the Bureau’s August 2020 request for information, as well as other data from regulators, industry, and consumers.

Read our client alert to see several highlights of the Bureau’s key findings.