Jump to Content
ABA: The American Bankers Association
Compliance News

CFPB Issues Specifications for Credit Card Agreement, Data Submission

The Consumer Financial Protection Bureau issued technical specifications for complying with credit card agreement and data submission requirements under Truth in Lending Act and the CARD Act. Credit card issuers should use the CFPB’s new “Collect” website to submit required information to the bureau. Card issuers must register to use the Collect site by emailing a registration form to [email protected]

Credit card issuers who are required to make quarterly credit card submissions to the Bureau pursuant to 12 CFR 1026.58(c) must register for Collect by Nov. 1. Once card issuers receive their login credentials, starting on Dec. 1, they will be able to review their current submissions and make the required submissions for the fourth quarter of calendar year 2021 using Collect.