US DOT and CFPB investigate potential regulation of credit card and airline reward programs.
The US Department of Transportation and the Consumer Financial Protection Bureau are investigating potential regulation of credit card rewards programs and frequent-flier programs linked to them, following concerns about difficulties in obtaining refunds, limited competition, devaluation of points, and high interest rates. Regulators are examining potential 'bait and switch' tactics and are pushing for increased transparency and fairness around credit card and airline reward programs.
May 09, 2024
17 Articles