The Consumer Financial Protection Bureau has proposed a rule that would allow financial firms to post annual privacy notices online … if they limit their data-sharing.
Back in 2007, more than 30 million credit card customers were offered refunds from a class-action lawsuit when a court determined that many major credit card issuers and network providers habitually overcharged customers for foreign currency transactions. The court ordered the companies to refund consumers some $336 million. Each refund was a modest $25, but it was a
The Consumer Financial Protection Bureau, or CFPB, wants consumers to know the specifics of a credit card’s cost before applying for the card, according to an article by The Associated Press. The CFPB, a new consumer watchdog agency set to open this summer, would like consumers to know the exact interest rate and credit line
New credit card disclosure rules for solicitations, agreements and periodic billing statements take effect today as part of reforms approved by the Federal Reserve Board in December 2008. According to Nessa Feddis, VP and senior counsel for regulatory compliance at the American Bankers Association, an industry trade group, these are some of the key changes: