Consumer Financial Protection Bureau Director Richard Cordray told lawmakers during a House Financial Services committee hearing this week that the bureau will likely change the CARD Act to allow qualified non-working spouses to establish credit cards in their own name.
The CFPB is expecting to introduce the rule before the post-election lame duck congressional session, Cordray told the panel Thursday.
Holly McCall, a stay-at-home mom from Virginia made famous after she launched a grass-roots petition campaign to reverse the "Mad Men-era" rule, said she was inspired by the announcement.
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