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The Consumer Financial Protection Bureau (CFPB) is turning its attention to credit card rewards programs.
The agency's focus on rewards follows a 70% uptick in consumer complaints regarding credit card rewards since before the pandemic. In May, the CFPB released a report spotlighting common consumer complaints and held a joint hearing with the Department of Transportation on airline rewards programs in the U.S.
The goal? "Ultimately, we want to make sure that every family is getting what's promised and that we really have a fair, competitive, and transparent [credit card] market," said CFPB director Rohit Chopra at the joint hearing.
Here's a closer look at the most commonly cited credit card rewards issues and a few actions that can help you avoid problems with your rewards credit cards today.
#rewards #card #advertiser
The Consumer Financial Protection Bureau (CFPB) is turning its attention to credit card rewards programs.
The agency's focus on rewards follows a 70% uptick in consumer complaints regarding credit card rewards since before the pandemic. In May, the CFPB released a report spotlighting common consumer complaints and held a joint hearing with the Department of Transportation on airline rewards programs in the U.S.
The goal? "Ultimately, we want to make sure that every family is getting what's promised and that we really have a fair, competitive, and transparent [credit card] market," said CFPB director Rohit Chopra at the joint hearing.
Here's a closer look at the most commonly cited credit card rewards issues and a few actions that can help you avoid problems with your rewards credit cards today.
#rewards #card #advertiser
2 months ago
