CFPB targets deceptive credit card rewards, launches tool to help consumers compare cards.
The Consumer Financial Protection Bureau (CFPB) is cracking down on deceptive credit card practices, particularly concerning rewards programs. The CFPB has warned companies that devaluing or canceling reward points could be illegal and has launched a tool called "Explore Credit Cards" to help consumers compare over 500 cards based on rates, fees, and rewards. The aim is to increase transparency and protect consumers from misleading terms and hidden fees.
3 months ago
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