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ABA: The American Bankers Association
Compliance News

ABA Comments on CFPB's RFI re: Consumer Credit Card Market

ABA, in a comment letter to the Bureau wrote that since the Bureau’s last credit card market report in 2017, credit card interest rates have increased across all tiers as the Federal Reserve Board has raised interest rates. Outdated debt collection rules need to be revised to improve the functioning of the debt collection market and improve consumer understanding and protection. The Bureau is expected to release its report on the credit card market in July 2019.