Morrison & Foerster Discusses CFPB Report on Consumer Credit Card Market

On December 27, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released its biennial report on the consumer credit card market (“2017 Report” or “Report”), which summarizes its views on the state of the consumer credit card market over the past two years. The Report is particularly noteworthy because it provides the first insight into the post-Cordray CFPB’s views on the state of the consumer credit card market.

The Report was issued pursuant to Section 502(a) of the CARD Act (“CARD Act”),[1] which directs the CFPB to review and report on the consumer credit card market. The CARD Act … Read more