Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
Do Gift Cards Keep on Giving How the Law Affects the Consumer, the Retailer and the State
In this article, we share a timeline of our monthly "bites" for 2024 applicable to the credit card industry. The year saw the CFPB give a fair amount of attention to credit card products, with a focus on pricing....more
On January 15, 2025, days before the start of the Trump administration, the Consumer Financial Protection Bureau (CFPB) published a proposed interpretive rule (Proposed Rule) seeking public comment on how the Electronic Fund...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
The Consumer Financial Protection Bureau (CFPB) has cautioned companies against what it views as illegal or unlawful credit card rewards practices, sharing new research about retail credit card issues and unveiling a novel...more
On December 18, 2024, the Consumer Financial Protection Bureau (the “CFPB”) issued a circular to other law enforcement agencies warning that some credit card companies operating rewards programs may be breaking the law, and...more
On December 18, the CFPB issued a circular titled “Consumer Financial Protection Circular 2024-07,” which provided an analysis of whether credit card issuers and their partners may violate federal consumer protection law by...more
Some credit card companies operating rewards programs may be violating the law by failing to provide promised rewards, the CFPB said, in a circular to law enforcement agencies....more
In December 2024, the Consumer Financial Protection Bureau (Bureau) rolled out a series of important measures aimed at addressing potential misconduct in the credit card industry, improving consumer protections, and promoting...more
On December 18, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a circular to “other law enforcement agencies,” urging them to take action against certain credit card practices. The CFPB highlights alleged...more
With back-to-school (BTS) in full swing, shoppers are navigating pressing economic challenges like inflation and financial uncertainty, they increasingly seek convenient and cost-saving solutions. Almost all BTS shoppers...more
The Department of Transportation is allowing Alaska Airlines (“Alaska”) and Hawaiian Airlines (“Hawaiian”) to close their merger—as long as the airlines protect their passenger rewards program against devaluation and ensure...more
Recently, the FDIC ordered two affiliated state nonmember banks to each pay a $1,000,000 civil monetary penalty (orders here and here). These penalties resolve claims of unfair practices related to their rewards programs and...more
On September 5, the U.S. Department of Transportation (DOT) initiated an inquiry into the rewards programs of the four largest U.S. airlines to investigate potential unfair, deceptive, or anticompetitive practices. Secretary...more
In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more
On May 9, the CFPB issued a report on credit card rewards programs which highlighted the CFPB’s views on issues affecting millions of consumers. The report opened with a note that the CFPB received over 1,200 complaints...more
Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • CFPB Reports “Doom Loops” and Other Harmful Practices in...more
On May 9, 2024, the CFPB released a comprehensive report detailing its findings on challenges reported by consumers regarding their credit card rewards programs. This report, as well as remarks made by CFPB Director Rohit...more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new Issue Spotlight regarding growing problems in the credit card rewards program industry....more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) published a report highlighting common themes in complaints received from consumers, including mismatches between marketing and actual terms, devaluations of...more
The CFPB issued a report detailing the issues faced by consumers regarding credit card rewards programs and reminding credit card industry stakeholders that federal consumer protection laws—including the Consumer Financial...more
In another move highlighting the Consumer Financial Protection Bureau's (the “Bureau” or “CFPB”) continued focus on the payments space, the CFPB has issued a new report finding consumers are encountering numerous problems...more
On May 9, the CFPB issued a new report highlighting the issues consumers encounter with credit card rewards programs. The report was released in conjunction with a hearing co-hosted with the Department of Transportation and...more
On May 9, 2024, the Consumer Financial Protection Bureau (CFPB) and U.S. Department of Transportation (DoT) held a 98-minute joint hearing on airline and credit card rewards programs. CFPB Deputy Director Zixta Martinez...more
This week, the Consumer Financial Protection Bureau (CFPB or Bureau) published an Issue Spotlight focusing on consumer complaints relating to credit card rewards programs. The report notes that credit card companies often...more
In furtherance of the Biden Administration’s “junk fee” agenda, on Thursday, May 9, 2024, the Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card...more