CFPB to Amend Ability to Repay Rules under CARD Act to Consider Household Income

The Consumer Financial Protection Bureau will begin a notice-and-comment rulemaking to reverse a portion of the "ability to repay" regulations under the CARD Act. The CFPB will begin formal rulemaking to allow card issuers to consider household income and assets of an applicant. Excerpt...

CFPB Gathers Comments in Advance of Potential Regulation of General Use Prepaid Reloadable Cards

Excerpt: The Consumer Financial Protection Bureau has begun the process of issuing new rules to govern the booming, multi-billion dollar market in certain reloadable debit cards. On May 24, 2012, the Bureau issued an Advanced Notice of Proposed Rule-making (the "Advanced Notice") to...