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1,917 results on '"Credit cards -- Laws, regulations and rules"'

1. Credit card reward liabilities may be eligible for recurring item exception: The Office of Chief Counsel approves accrual of liability, distinguishing the situation in a CCA from that of Giant Eagle, Inc.

Author

Geiszler, Matthew, McKinley, John, and Pothapur, Keshaav

Subjects
Loyalty programs (Marketing) -- Laws, regulations and rules, Exceptions (Law) -- Laws, regulations and rules, Taxable income -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Tax deductions -- Laws, regulations and rules, Government regulation
Abstract

The IRS Office of Chief Counsel advised in Chief Counsel Advice (CCA) 202417021 that certain credit card reward liabilities are fixed and determinable under Sec. 461 when the cardholder has [...]

Published
2024

2. The Financialization of Frequent Flyer Miles: Calling for Consumer Protection.

Author

Goldfine, Ari

Subjects
Restraint of trade -- Laws, regulations and rules, Fraud -- Laws, regulations and rules, Breach of contract -- Laws, regulations and rules, Frequent flyer programs -- Laws, regulations and rules -- Finance, Credit cards -- Laws, regulations and rules, Airlines -- Laws, regulations and rules -- Finance, United States. Consumer Financial Protection Bureau -- Powers and duties, United States. Department of Transportation -- Powers and duties, Government regulation, Company financing, United States Code (49 U.S.C. 41712)
Abstract

INTRODUCTION 235 I. THE HISTORICAL CONTEXT OF MODERN FREQUENT FLYER PROGRAMS 237 A. The Rise and Fall of U.S. Airline Regulation 237 B. The Emergence and Evolution of Frequent Flyer [...], Airlines' frequent flyer programs operate more like a monetary system, with points as a form of currency, than a typical discount or rewards plan. In fact, airlines' power over points is even more extensive than that of a central bank over currency--beyond simply determining how many points are in circulation, airlines also control the value of points at redemption, how many points consumers can accumulate, and when points expire. This financialized form of frequent flyer programs has proven to be lucrative. For the Big Four airlines, frequent flyer programs are worth markedly more than the business of providing air travel itself. Much of this profit stems from selling points to third parties, like banks, which use the promise of points to incentivize consumers' credit card spending. The very structure of frequent flyer programs presents a problem for consumer protection. The value of these programs relies on consumers' belief in the value of points. At the same time, the value of these programs also depends on preventing consumers from efficiently redeeming their outstanding points, which would present an unsustainable cost for the airlines. In other words, the value of these programs stems from ensuring consumers believe that points are highly valuable, while limiting the points' actual value. This market structure relies on keeping consumers in the dark. Because the structure of frequent flyer programs depends on consumer deception, regulatory action is necessary. To that end, this Note analyzes the sometimes-overlapping regulatory mandates of the Federal Trade Commission, Department of Transportation, and Consumer Financial Protection Bureau. It then proposes that the agencies act to provide much-needed transparency in the market for frequent flyer points. These proposals aim to prevent the airline industry from subsidizing the provision of air travel with profit driven by consumer mistake and misrepresentation.

Published
2024

3. 50 Years Ago, Women Won Equal Access to Credit

Subjects
Credit cards -- Laws, regulations and rules, Government regulation, General interest
Abstract

As recently as 1974, banks were legally allowed to deny women credit or charge them higher interest if they failed to get a male cosigner. But that year, on Oct. [...]

Published
2024

4. Smithsonian's new series is tied to 50th anniversary of Equal Credit Opportunity Act

Subjects
Public radio -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, General interest, Equal Credit Opportunity Act
Abstract

To listen to this broadcast, click here: http://www.npr.org/templates/transcript/transcript.php?storyId=nx-s1-5163432 BYLINE: NEDA ULABY HOST: STEVE INSKEEP STEVE INSKEEP: You know, getting credit or a mortgage or some other kind of loan can [...]

Published
2024

5. Quebec reaches a tipping point on consumer prices

Subjects
Restaurants -- Laws, regulations and rules, Consumer education -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation
Abstract

The province is cracking down on deceptive practices, such as calculating restaurant tips on the price of a meal plus taxes, At the end of a special dinner out, you’ve had a pleasant time, with good food and company – and maybe even some pinot noir. You ask for the bill [...]

Published
2024

6. Quebec hits a tipping point on prices

Subjects
Credit cards -- Laws, regulations and rules, Government regulation, General interest, News, opinion and commentary
Abstract

At the end of a special dinner out, you've had a pleasant time, with good food and company - and maybe even some pinot noir. You ask for the bill [...]

Published
2024

16. Canada Has A New Code Of Conduct For The Payment Card Industry Effective October 30, 2024

Subjects
Canada. Department of Finance Canada -- Powers and duties, Debit cards -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

On October 1, 2024, the Canadian Department of Finance announced that there will be a new Code of Conduct for the Payment Card Industry (the Code), currently known as the [...]

Published
2024

17. PREPARED REMARKS OF CFPB DIRECTOR ROHIT CHOPRA ON THE GOLDMAN SACHS AND APPLE ENFORCEMENT PRESS CALL

Subjects
The Goldman Sachs Group Inc. -- Laws, regulations and rules, Credit and debit card industry -- Laws, regulations and rules, Consumer protection -- Laws, regulations and rules, Investment banks -- Laws, regulations and rules, Credit ratings -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, News, opinion and commentary
Abstract

WASHINGTON -- The following information was released by the Consumer Financial Protection Bureau (CFPB): By Rohit Chopra Good morning. Today, the CFPB is taking action against two of our country's [...]

Published
2024

18. NY Providers Take Note: New Consent To Payment Laws Effective October 20

Author

Dimick, Grayson I.

Subjects
Medical care, Cost of -- Laws, regulations and rules, Collection (Accounting) -- Laws, regulations and rules, Medical fees -- Laws, regulations and rules, Payment -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

KEY UPDATE On October 20, 2024, two new laws will take effect in New York that impact how healthcare providers obtain consent to payment and collect payments from patients. These [...]

Published
2024

19. Opening statement to the Standing Committee on Industry and Technology: Credit card practices and regulations

Subjects
Government regulation of business, Credit and debit card industry -- Laws, regulations and rules, Banking law -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, News, opinion and commentary
Abstract

Gatineau, Quebec: Competition Bureau Canada has issued the following speech: Good morning Mr. Chair and members of the committee. Thank you for the invitation to appear before you today. My [...]

Published
2024

20. OPENING STATEMENT TO THE STANDING COMMITTEE ON INDUSTRY AND TECHNOLOGY: CREDIT CARD PRACTICES AND REGULATIONS

Subjects
Government regulation, Government regulation of business, Credit and debit card industry -- Laws, regulations and rules, Banking law -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules
Abstract

OTTAWA, Ontario -- The following information was released by the Government of Canada: Remarks by Krista McWhinnie, Deputy Commissioner, Monopolistic Practices Directorate The House of Commons' Standing Committee on Industry [...]

Published
2024

21. CFPB releases FAQ on regulation of buy now, pay later products

Subjects
Consumer protection -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, General interest, News, opinion and commentary
Abstract

Washington, D.C: American Bankers Association has issued the following news release: The Consumer Financial Protection Bureau today released an FAQ about applying Truth in Lending regulation to buy now, pay [...]

Published
2024

22. The CFPB Sets Its Sights On Buy Now, Pay Later Lenders In New Interpretive Rule

Author

Hines, Jake

Subjects
United States. Consumer Financial Protection Bureau -- Powers and duties, Short-term financing -- Laws, regulations and rules, Credit and debit card industry -- Laws, regulations and rules, Consumer protection -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

On May 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule identifying Buy Now, Pay Later Lenders (BNPL Lenders or Lenders) as 'card issuers' or 'creditors' for [...]

Published
2024

28. CBE imposes restrictions on credit cards, FX transitions

Subjects
Credit and debit card industry -- Laws, regulations and rules, Banking law -- Laws, regulations and rules, Foreign exchange -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

CAIRO - 24 December 2023: The Central Bank of Egypt (CBE) has introduced new regulations affecting credit cards issued on or after December 21. These regulations specifically pertain to foreign [...]

Published
2023

29. Credit Card Late Fees Have The CFPB's Interest (Podcast)

Author

DiResta, Anthony E.

Subjects
United States. Consumer Financial Protection Bureau -- Powers and duties, Finance charges -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

In this episode of his 'Clearly Conspicuous' podcast series, 'Credit Card Late Fees Have the CFPB's Interest,' consumer protection attorney Anthony DiResta examines the Consumer Financial Protection Bureau's (CFPB) proposed [...]

Published
2024

30. ABA, U.S. Chamber question CFPB process for implementing buy now, pay later rule

Subjects
Chambers of commerce -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, General interest, News, opinion and commentary, U.S. Chamber of Commerce
Abstract

Washington, D.C: American Bankers Association has issued the following news release: An interpretive rule that defines lenders who provide buy now, pay later products as credit card providers under the [...]

Published
2024

31. Russian Federation : The self-prohibition on loans does not apply to the issuance of funds on credit cards

Subjects
Russia. Central Bank of the Russian Federation -- Laws, regulations and rules, Credit and debit card industry -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Loans -- Laws, regulations and rules, Government regulation, Business, international
Abstract

The law on self-prohibition of issuing loans, which will come into force on March 1, 2025, assumes that this possibility does not apply to issuing funds on previously opened credit [...]

Published
2024

32. Justice Served: The Widow Who Defeated The Bank (Podcast)

Subjects
Podcasting -- Laws, regulations and rules, Banks (Finance) -- Laws, regulations and rules, Consumer credit -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

self Episode Description An elderly widow scored a courtroom victory! In this episode, Stephen and Gavin dive into the gripping legal battle between a powerful Canadian bank and an elderly [...]

Published
2024

33. Maryland Banking Regulator Settles With Bank/Fintech Partnership For Unlicensed Lending, Credit Repair, And Debt Collection Activities

Subjects
Banks (Finance) -- Laws, regulations and rules, Collection (Accounting) -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Company financing, Business, international
Abstract

On May 16, the Maryland Office of Financial Regulation ('OFR') announced a settlement with a Missouri-based bank and its fintech partners for engaging in unlicensed lending, credit repair, and debt [...]

Published
2024

34. What To Know As CFPB Late Fee Rule Hangs In Limbo

Subjects
Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

Washington: Steptoe & Johnson has issued the following press release: Partners Juliana Gerrick and Andrew Owens and of counsel David Switzler authored an article titled 'What To Know As CFPB [...]

Published
2024

35. CFPB Issues Interpretive Rule Classifying BNPL Products As 'Credit Cards'

Subjects
Credit and debit card industry -- Laws, regulations and rules, Consumer protection -- Laws, regulations and rules, Banking law -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

> Introduction On May 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a significant Interpretive Rule and Request for Comment (the 'Rule') finding that 'Buy Now, Pay Later' (BNPL) [...]

Published
2024

36. Where To Begin With The CFPB's 'Buy Now, Pay Later' Interpretative Rule

Subjects
Consumer protection -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Business, international
Abstract

The Consumer Financial Protection Bureau's interpretative rule provides that traditional 'Buy Now, Pay Later' (BNPL) products - closed-end loans that do not have a finance charge and are repaid in [...]

Published
2024

37. Surprise! CFPB Claims That Buy Now, Pay Later Providers Are 'Card Issuers' Under Reg Z

Author

Pearson, Scott M.

Subjects
United States. Consumer Financial Protection Bureau -- Powers and duties, Consumer credit -- Forecasts and trends -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, Market trend/market analysis, Business, international, Truth in Lending Act
Abstract

To the likely surprise of providers of buy now, pay later ('BNPL') financing, last week the Consumer Financial Protection Bureau ('CFPB') issued an interpretive rule stating that BNPL products are [...]

Published
2024

39. Consumer watchdog classifies âbuy now, pay later' apps as credit cards

Author

Gregg, Aaron and Peiser, Jaclyn

Subjects
United States. Consumer Financial Protection Bureau -- Powers and duties, Consumer protection -- Laws, regulations and rules, Consumer spending -- Laws, regulations and rules, Credit cards -- Laws, regulations and rules, Government regulation, General interest, News, opinion and commentary
Abstract

Byline: Aaron Gregg, Jaclyn Peiser The Consumer Financial Protection Bureau will classify âbuy now, pay laterâ apps the same way it treats credit cards, a move meant to afford consumers [...]

Published
2024

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