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MoFo Reenforcement The Enforcement Blog

Tag Archives: CARD Act

CFPB Initiates Fourth Review of the Consumer Credit Card Market

Posted in CFPB, Credit Cards, Regulatory Developments

On January 31, 2019, the Consumer Financial Protection Bureau published a Request for Information regarding the consumer credit card market. In accordance with Section 502(a) of the CARD Act, the Bureau conducts a biennial review of the consumer credit card market by soliciting public comment and feedback. In the past, the Bureau has used these… Read More

#ThrowbackThursday: Summary of Final CARD Act Clarifications

Posted in Credit Cards, Regulatory Developments

In April 2011, Morrison & Foerster published the client alert “Summary of Final CARD Act Clarifications.” Summary: On March 18, 2011, the Federal Reserve Board (“FRB”) issued a final rule to clarify certain recent amendments to Regulation Z, particularly those implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009 (“CARD Act”). While the… Read More

CFPB Initiates Second CARD Act Review

Posted in CFPB, Credit Cards

On March 19, 2015, the Consumer Financial Protection Bureau (CFPB) published a notice and request for information (“2015 RFI”) regarding the impact of the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act), as required by Section 502(a) of the CARD Act. The CARD Act requires that the CFPB conduct this review every… Read More

CFPB Proposes Suspending Quarterly Credit Card Agreement Submission Requirements

Posted in CFPB, Credit Cards

On February 26, 2015, the Consumer Financial Protection Bureau (CFPB) published a proposed rule (“Proposed Rule”) that would suspend for one year the requirement that credit card issuers submit their agreements to the CFPB on a quarterly basis, as required by the Truth in Lending Act, as amended by the Credit Card Accountability Responsibility and… Read More