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.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.