Director of the Consumer Financial Protection Bureau RichardCordray said he is committed to reviewing the implementation of theCARD Act rule that prohibits non-working spouses from using household income to qualify fora credit card.
|The message came Thursday from stay-at-home mom Holly McCall andrepresentatives of MomsRising, who met with Cordray after delivering more than 45,000 petition signatures opposing theregulation to the bureau on Tuesday.
|Cordray told the Vienna, Va., resident that he will reviewimplementation of the CARD Act, work with her to create a solution,and provide a response to the grassroots MomsRising group within 30days.
|“I am really pleased that Mr. Cordray agreed to meet with mehimself to address unfair access to credit for stay-at-homeparents,” McCall said. “It's clear the Consumer FinancialProtection Bureau listened to the 45,000 voices asking them tochange this rule which unfairly penalizes hard-working moms anddads. I look forward to working with Director Cordray to fix thisglaring issue.”
|McCall said she and Moms Rising will work closely with the CFPBover the next 30 days to advocate for a resolution that allowsstay-at-home parents access to credit.
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