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Tag Archives: Credit Card Regulations
How Can Instant Prescreen Transform Retail Credit Cards?
Topics: Account Opening, Customer Experience
Tagged: Credit Card Regulations, Customer Service, Instant Prescreen, Retail Credit
We know that retailers can increase their revenue and customer loyalty if they can get their own retail-branded credit cards into their customers’ hands. It makes sense. If consumers who sign up for your credit card get a discount on that day’s purchases, it’s logical to assume that those consumers will buy more stuff. If… Continue reading →
Is Charging a Debit Fee the Right Move?
Topics: Account Opening, Regulations, Trends
Tagged: Credit Card Regulations, debit card, Demand Deposit Account, Durbin Amendment, Transparency
Many banks are struggling to respond appropriately to changes in debit interchange. Several large institutions have already announced plans to implement a monthly fee for consumers using debit cards. Whether this is a genuine response or a political maneuver still remains to be seen, however, it is clear that the American payments industry will soon… Continue reading →
What Ability to Pay Means For Equity
Topics: Regulations
Tagged: CARD Act, Credit Card Regulations
As the economy begins to show signs of life, it is time to consider the unintended consequences of recent regulatory actions. The Ability to Pay component of the 2009 CARD Act is one. Clearly the intent was to both reduce perceived abuses and reduce dependence on credit when it is unhealthy (with students and low… Continue reading →
UDAP (Unfair or Deceptive Acts and Practices): Is Your IT Shop Prepared?
Topics: Regulations, Technology
Tagged: Credit Card Regulations, Risk-Based Pricing, UDAP
The industry buzz is that it is going to take some issuers 70–80 percent of their IT capacity to manage the new credit card regulations. That is an alarming statistic, but what exactly does it mean and how is it going to impact card issuers from a technology resources point of view?
Way back when in… Continue reading →
A Closer Look At The Implications of UDAP
Topics: Customer Acquisition and Retention, Regulations
Tagged: Credit Card Regulations, Credit Risk Policy, Prescreen, UDAP
The credit card legislation currently under consideration includes a great many elements that are focused on improving consumer protections. Among the changes that are most likely to impact lenders are the clarifications to UDAP (aka unfair or deceptive acts and practices). Of particular interest to lenders who utilize prescreen or pre-approved offers is a proposed… Continue reading →