Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (Bureau or CFPB) has issued Consumer Financial Protection Circular 2024-07 titled, "Design, marketing, and administration of credit card rewards programs." In this circular, the CFPB responds to the question, "Can credit card issuers violate the law if they or their rewards partners devalue earned rewards or otherwise inhibit consumers from obtaining or redeeming promised rewards?"
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Consumer Financial Protection Bureau 12 CFR Chapter X ( printed page 106277) AGENCY: Consumer Financial Protection Bureau. ACTION: Consumer financial protection circular. SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) has issued Consumer Financial Protection Circular 2024-07 titled, “Design, marketing, and administration of credit card rewards programs.” In this circular, the CFPB responds to the question, “Can credit card issuers violate the law if they or their rewards partners devalue earned rewards or otherwise inhibit consumers from obtaining or redeeming promised rewards?” DATES: The CFPB released this circular on its website on December 18, 2024. ADDRESSES: Enforcers, and the broader public, can provide feedback and comments to Circulars@cfpb.gov . FOR FURTHER INFORMATION CONTACT: George Karithanom, Regulatory Implementation & Guidance Program Analyst, Office of Regulations, at 202-435-7700 or at: https://reginquiries.consumerfinance.gov/​ . If you require this document in an alternative electronic format, please contact CFPB_Accessibility@cfpb.gov . SUPPLEMENTARY INFORMATION: Question Presented Can credit card issuers violate the law if they or their rewards partners devalue earned rewards or otherwise inhibit consumers from obtaining or redeeming promised rewards? Response Yes. Covered persons that offer, provide, or operate credit card rewards programs, and their service providers, may violate the prohibition aga…
Citation: 89 FR 106277
