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CARD Act 8 Years Later: CFPB Speaks on Research and Insights

January 18 @ 12:00 pm - 1:15 pm EST


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The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 was signed into law by President Obama on May 22, 2009. With significant changes to the FTC and EFT Acts, the CARD Act has proven to be one of the most sweeping regulations ever to hit financial services. Now, 8 years later, BankersHub is pleased to have the CFPB join us to update the industry on some of the trends and impacts the Bureau has witnessed.

Two examples of where the CFPB has been involved either directly or indirectly can be seen in two key areas:

Card Rewards Programs: First, in a timely article, noted the rise in consumer complaints in recent years, especially pertaining to Credit Card Rewards (“Rewards cards draw a surge of complaints to CFPB”).  “Rewards programs have gone from commonplace to ubiquitous,” the consumer protection bureau wrote in its report. Perhaps more importantly, the promise of rewards is often the No. 1 reason for picking a particular card. “For many consumers, rewards have become central to the decision of which credit cards to acquire and how to use them,” the CFPB’s report concluded. But while we’re choosing and using cards based on rewards, we often don’t know how they really work, the report said. Without access to complete rules, people have a hard time selecting cards that will perform as they expect.

Deferred Interest: On May 4, WalMart announced a true, 0% interest offer that is truly different from other promotions as it does not have deferred interest and is a real 0% promotion. “Deferred-interest products makes costs less predictable and transparent to consumers. We are encouraged by this announcement, and we will continue to monitor this development carefully. We hope to see others in the industry reconsider their reliance on deferred-interest products which can impose significant costs on consumers,” said Richard Cordray, former Consumer Financial Protection Bureau Director.

Join Wei Zhang, the Program Manager for the Cards Division at the CFPB, to learn what customers really think about their cards since the CARD Act was implemented, some of the cardholder pet peeves, and what bankers can, and should, learn from this research.

In this exclusive BankersHub replay event (recorded July 2017), you and your team will have a rare and valuable opportunity to hear directly from the Consumer Financial Protection Bureau (CFPB)!


$249 for Webinar and Playback*
*Playback has no expiration and may be shared internally. This event was recorded previously (July 2017)

Dates of Event

Thursday, January 18, 2018

  • 12:00 – 1:15 pm (Eastern Time)
  • 11:00 – 12:15 pm (Central Time)
  • 10:00 – 11:15 am (Mountain Time)
  • 9:00 – 10:15 am (Pacific Time)


  • 1.2 AAP Credits
  • 1.0 CPE Credits

Your Speaker(s)

Wei Zhang
Credit Cards Program Manager
Office of Card Markets
Consumer Financial Protection Bureau (CFPB)


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January 18
12:00 pm - 1:15 pm
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