Industry Groups Urge CFPB Not to Proceed With Credit Card Survey
August 12, 2013
The CFPB should not proceed with a proposed telephone survey on credit card dispute resolution, three financial services trade groups said in a comment letter. First, the Financial Services Roundtable, the Consumer Bankers Association and the American Bankers Association said the proposed survey is inconsistent with the bureaus mandate under the Consumer Financial Protection Act. Section 1028(a) of the CFPA provides that the bureau shall conduct a study of, and shall provide a report to Congress concerning, the use of agreements...