As we discussed in March, the Consumer Financial Protection Bureau is soliciting public comment on how the credit card market is functioning and the impact of credit card protections on consumers and issuers.
To allow interested persons additional time to consider and submit their responses, the CFPB announced it is extending the comment period on four of the specific areas of interest noted in the original Request for Information, including online disclosures, grace periods, add-on products, and debt collection.
The 90-day comment period for these four areas will now end on June 17, 2015. The original 60-day comment period for the other eight specific areas on which the CFPB is requesting information will end on May 18, 2015.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
