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Friday, April 1, 2016

CFPB Resumes Card Agreement Submissions; Next Deadline May 2

After a yearlong suspension while it updated its submission system, the CFPB will resume accepting the card agreements that issuers are required to submit to the bureau. The next due date is May 2 for all agreements offered to the public as of the end of March.

Since card issuers are also required to post all active agreements on a public website, the CFPB said that issuers can meet the submission requirement by emailing links to these agreements to cardagreements@consumerfinance.gov. Emailing the links, along with the issuer’s name, address and unique identifying number is sufficient to meet all submission requirements, the bureau said.

After the May 2 deadline, the remaining submission dates for the year will be Aug. 1 and Oct. 31. The CFPB guidance includes answers to frequently asked questions.

View the guidance.

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