The CFPB said it is seeking public comment on credit card terms, rewards programs, consumer disclosures, debt collection practices and other related issues for a review of the state of the credit card market.
The bureau said the CARD Act requires it to carry out a review of the consumer credit market every two years. The CFPB's analysis will be incorporated into a public report to Congress about the state of the consumer credit card market.
"With today's inquiry, the bureau is seeking to further understand how the credit card market is working in practice and how credit card protections affect consumers and credit card issuers," CFPB Director Richard Cordray said. "As we undertake this review, the bureau wants to ensure it understands the information that consumers, industry, advocates and other stakeholders believe is most relevant."
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