http://www.responsiblelending.org feed-51154965 web@responsiblelending.org 2010 Center for Responsible Lending Convio Content Management System Module en-us http://www.responsiblelending.org/styles/images/crl-logotag.jpg http://www.responsiblelending.org www.responsiblelending.org-411266939 http://www.responsiblelending.org/credit-cards/policy-legislation/regulators/crl-tells-cfpb-the-card-act.html Comments submitted by the Center for Responsible Lending to the Consumer Financial Protection Bureau in response to the Request for Information Regarding Credit Card Market. The CARD Act has made pricing clearer without restricting credit, raising its cost or curbing the ability of card issuers to price for risk. Contrary to curbing risk-based pricing, the CARD Act encourages risk-based pricing. Tue, 19 Feb 2013 00:00:00 -0600 www.responsiblelending.org-352083366 http://www.responsiblelending.org/credit-cards/policy-legislation/regulators/prepaid-cards-lack-consumer-protections.html The CFPB should prohibit overdraft and credit features on prepaid cards. Tue, 24 Jul 2012 00:00:00 -0500 www.responsiblelending.org-338333662 http://www.responsiblelending.org/credit-cards/policy-legislation/regulators/are-prepaid-credit-cards.html Martin Eakes remarks on prepaid cards before a CFPB field hearing. Fri, 25 May 2012 00:00:00 -0500 www.responsiblelending.org-333452636 http://www.responsiblelending.org/credit-cards/research-analysis/predatory-credit-card-unsafe-unsound.html What hurts consumers financially hurts business. Losses in downturns mount faster at banks enagaging in unfair, deceptive practices. High-cost penalty fees, interest rates don’t mitigate risk—as credit card issuers have said—but instead are the risk that causes consumers to default. Tue, 08 May 2012 00:00:00 -0500 www.responsiblelending.org-122714596 http://www.responsiblelending.org/credit-cards/policy-legislation/congress/Highlights-of-the-New-Credit-Card-Rules-What-They-Do-and-Don-t-Do.html Credit CARD Act of 2009 – Learn what the law does and does not cover. Thu, 26 Jan 2012 00:00:00 -0600 www.responsiblelending.org-212038236 http://www.responsiblelending.org/credit-cards/research-analysis/credit-card-clarity.html New credit card rules help consumers by making credit card pricing significantly clearer, new CRL research finds. New rules lower costs by spurring competition, making it harder for issuers to manipulate or arbitrarily raise prices. Wed, 01 Jun 2011 00:00:00 -0500 www.responsiblelending.org-183158440 http://www.responsiblelending.org/credit-cards/research-analysis/Numbers-Game-The-True-Cost-of-Credit-Card-Mail-Offers.html Credit card offers have grown increasingly complex over time. Using a straightforward measure of complexity—the total number of numeric figures that appear on a credit card direct mail offer—this report shows that offers to consumers were 2.5 times more complicated in 2009 than in 1999. In an encouraging sign, a decade-long trend toward complexity has eased since implementation of recent reforms contained in the Credit CARD Act of 2009. Mon, 25 Oct 2010 00:00:00 -0500 www.responsiblelending.org-165313230 http://www.responsiblelending.org/credit-cards/research-analysis/analysis-of-fed-research-on-behavioral-scoring.html Analysis of Federal Reserve Research on Behavioral Scoring: On “Report to the Congress on Reductions of Consumer Credit Limits Based on Certain Information as to Experience or Transactions of the Consumer” Wed, 11 Aug 2010 00:00:00 -0500 www.responsiblelending.org-165496157 http://www.responsiblelending.org/credit-cards/policy-legislation/regulators/comment-on-potential-violations-of-card-act.html CRL and consumer coalition express concerns about credit card issuer potential violations of the the Credit CARD Act of 2009. Problems related to penalty rate disclosures, variable rates, payment allocation and pick-a-rate are cited. Wed, 07 Jul 2010 00:00:00 -0500 www.responsiblelending.org-152269367 http://www.responsiblelending.org/credit-cards/research-analysis/a-just-fee-or-just-a-fee.html CRL research report finds that even after the new credit card law and credit card reform, credit card late fees still penalize cardholders while increasing profits for credit card banks and credit card companies. Card issuers find multiple ways to charge customers for late payments that are unrelated to changing borrower behavior or covering losses. Late fees are just another way to raise credit card customer costs. Tue, 08 Jun 2010 00:00:00 -0500