CFPB Fires Warning Shot Over Deceptive Credit Card Interest Rate Promos

By | White Collar Briefly | September 4, 2014
CFPB Fires Warning Shot Over Deceptive Credit Card Interest Rate Promos

Taking aim at credit card issuers who promote offers to consumers such as “convenience checks,” deferred interest/promotional interest rate purchases and balance transfers, the Consumer Financial Protection Bureau (CFPB) released a Bulletin on September 3, 2014, putting those issuers on notice of the risk that those practices could constitute deceptive and/or abusive acts.