The Consumer Financial Protection Bureau has drafted what it believes is a simple, easy to understand agreement that will aid consumers in deciding whether to apply for a credit card and make credit terms more transparent. The agency says that the agreement "is not a model form, and use is not mandatory. ... We believe our approach will help consumers better understand their credit card agreements."
You can provide your comments to the CFPB at the bottom of this version of the agreement. You may want to compare the CFPB's agreement with the agreements currently used by credit card issuers.
Michelle Singletary has written this article about the CFPB's efforts and explains that the new agreement is being used in a pilot project by the Pentagon Federal Credit Union.
Good article.
Thanks for sharing.
Posted by: Disney Card | Tuesday, February 14, 2012 at 12:29 AM