Alert April 16, 2013

CFPB Renews Request for Public Comment on Information Collection

The CFPB is soliciting comments on an existing information collection initiative, titled, Report of Terms and Credit Card Plans. The initiative collects information from the largest issuers of bank credit cards on the terms of credit offered by these issuers, specifically the pricing and fees of available third-party credit card plans. The CFPB seeks public input on: (1) whether the collection of information is necessary; (2) whether the CFPB’s estimated burden of collecting information is accurate; (3) ways to enhance the information being collected; and (4) ways to minimize the burden of collection and reporting by the respondents. Comments are due by June 7, 2013.