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Synchrony's Planned Rate Hike Unjustified, Advocates Say

April 25, 2024

Consumer advocates question what is driving higher rates and defend the new late fee rule by the CFPB.

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CFPB Rule Prohibiting Excessive Credit Card Late Charges Will Save Consumers Billions in Junk Fees

March 5, 2024

Advocates praised action taken by the CFPB to stop credit card lenders from raking in billions of dollars from excessive late fees.

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Consumer Bureau Proposes $8 ‘Safe Harbor’ on Credit Card Late Fees

May 3, 2023

Consumer Advocates Strongly Support “Fair, Reasonable, and Proportional” Rule to Reduce Credit Card Late Fees WASHINGTON — Advocates with the National Consumer Law Center and eight other advocacy groups submitted comments today in response to the Consumer Financial Protection Bureau’s (CFPB) proposed rule limiting credit card late fees. The groups say the proposed rule will…

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Advocates Praise CFPB for Rescinding Harmful Policies that Weakened Consumer Protections

March 31, 2021

FOR IMMEDIATE RELEASE: March 31, 2021 Washington, D.C. – Advocates applauded today’s announcement by the CFPB that it has rescinded several temporary policy statements issued last year that weakened consumer protection by giving financial service industries unnecessary “flexibility” not to comply with consumer protection laws, including laws governing credit cards and prepaid cards, home mortgages,…

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Consumer Advocates Criticize Credit Card “Relief” from CFPB and Warn Consumers to Avoid Unwanted Electronic Statements

June 4, 2020

Washington, D.C. – Under the guise of allowing “relief” to consumers during the COVID-19 pandemic, the Consumer Financial Protection Bureau (CFPB) issued guidance yesterday that will undermine critical consumer protections in federal law that ensure that consumers receive important disclosures about credit card transactions in writing. The guidance, supposedly issued to provide consumers relief to…

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Beware Holiday Shoppers: Deferred Interest Promotions Promise No Interest Now, but Can Cost Big Bucks Later

November 13, 2019

Boston – As Black Friday approaches, the National Consumer Law Center warns holiday shoppers of a lurking danger in the local mall, big box store or online: deferred interest promotions on credit cards. These promotions entice consumers with promises such as “no interest for 12 months” or “0% interest until December 2020,” but there is…

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Search Results

Synchrony's Planned Rate Hike Unjustified, Advocates Say

CFPB Rule Prohibiting Excessive Credit Card Late Charges Will Save Consumers Billions in Junk Fees

Consumer Bureau Proposes $8 ‘Safe Harbor’ on Credit Card Late Fees

Advocates Praise CFPB for Rescinding Harmful Policies that Weakened Consumer Protections

Consumer Advocates Criticize Credit Card “Relief” from CFPB and Warn Consumers to Avoid Unwanted Electronic Statements

Beware Holiday Shoppers: Deferred Interest Promotions Promise No Interest Now, but Can Cost Big Bucks Later