Title: A Renewed Federal Focus on Credit Card Disclosures
Abstract: Credit card marketing and account management practices have been the focus of extensive regulatory and Congressional scrutiny recently, and concerns have been raised about whether disclosures have been adequate to prevent consumers from misunderstanding the key terms and material limitations of credit card accounts. Concerns have centered on marketing involving the use of temporary teaser rates, the circumstances when the interest rates or other terms of a credit card account may be changed and the balances to which the changed terms apply, and the costs and effectiveness of the Regulation Z (Truth in Lending Act)1 disclosure rules for credit cards. The perception that card issuers and federallyrequired disclosure statements have failed to adequately inform consumers about certain material credit card terms and conditions has led to increased consumer
Publication Year: 2016
Publication Date: 2016-01-01
Language: en
Type: article
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