credit card rewards

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Saying it wants to protect consumers from unfair, deceptive or anticompetitive practices, the Transportation Department on Sept. 5 launched an investigation into the rewards programs operated by the nation’s four largest airlines.

As part of that probe, Transportation Secretary Pete Buttigieg sent the four airlines letters ordering them to provide records and submit reports about the operation of their programs.… Continue Reading

Rewards programs drive consumer choice and activity in connection with credit cards and other financial services. The CFPB has reported the most important element by far that influences a consumer’s decision to apply for a specific credit card is the rewards program associated with the card. Further, rewards can affect the consumer’s choice at the point of sale as to which card to use.… Continue Reading

In furtherance of the Biden Administration’s “junk fee” agenda, on Thursday, May 9, 2024, the Consumer Financial Protection Bureau and the U.S. Department of Transportation will host a hearing on airline and credit card rewards programs. CFPB Director Rohit Chopra and Secretary of Transportation Pete Buttigieg will moderate a discussion with the following industry representatives, labor leaders, and consumer advocates:

  1. Scott DeAngelo, Executive Vice President and Chief Marketing Officer, Allegiant Air
  2. Morgan Harper, Director of Policy and Advocacy, American Economic Liberties Project
  3. Andrew Grimm, President and CEO, Apple Federal Credit Union
  4. Sara Nelson, International President, Association of Flight Attendants
  5. Lukas Johnson, Chief Commercial Officer, Breeze Airways
  6. Erin Witte, Director of Consumer Protection, Consumer Federation of America
  7. Robert Patrick Cooper, Senior Vice President and General Counsel, OneUnited Bank

We will attend the joint hearing and blog about it thereafter. … Continue Reading