Yesterday, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released its biennial report on the consumer credit card market (“2017 Report” or “Report”), which summarizes its views on the state of the consumer credit card market over the past two years. The Report is particularly noteworthy because it provides the first insight into the post-Cordray CFPB’s views on the state of the consumer credit card market.
This alert highlights a few early takeaways from the 2017 Report. We will continue to unpack the 350+ page report—the 2017 Report is the longest CARD Act report to date—and will follow up with a more detailed analysis in the coming days.
Read our client alert.