CFPB improves survey on credit cards to promote competition and comparison shopping

The Consumer Financial Protection Bureau this week “launched an improved survey of credit card issuers that can help consumers and families compare interest rates and other features when shopping for a new credit card.” The agency explained that the [u]pgrades to the CFPB’s terms of credit card plans survey are designed to increase price competition in the credit card market by allowing people to comparison shop for the best prices and products. The survey will also help smaller credit card issuers, who often offer the lowest rates, reach comparison shoppers. … The improvements to the CFPB’s semiannual terms of credit card plans survey are intended to create a neutral data source to help consumers find the best interest rates and products.”

The CFPB’s press release has the details, here.

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