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Card Agreement Submissions Suspended until April 2016
Monday, June 15, 2015 6:40 AM

In mid-April, the Consumer Financial Protection Bureau temporarily suspended the card issuers’ obligation under Regulation Z to submit credit card agreements to the agency for a period of one year (four quarterly submissions). The bureau suspended this requirement while it develops a “more streamlined and automated electronic submission system.”

Other requirements, including card issuers’ obligation to post these agreements on their own publicly available websites, remain unaffected by this rule change.

Credit card issuers must resume submitting the agreements to CFPB on a quarterly basis starting on the first business day on or after April 30, 2016.