This Week In Credit Card News: CFPB Calls Out Some Illegal Card Practices [Forbes]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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investor.mastercard.com/investor-relations/default.aspx
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Source: Forbes
The CFPB issued a circular to other law enforcement agencies warning that some credit card companies operating rewards programs may be breaking the law. The CFPB's circular highlighted various ways that credit card companies could violate federal law: Devaluing of Earned Rewards. Hiding the Conditions for Earning or Keeping Rewards. Fine print disclaimers and vague terms buried in a contract may conflict with prominent promotional language highlighting the rewards that consumers can earn. Revoking, canceling, or preventing consumers from redeeming rewards based on such conditions may also be an unfair or deceptive act or practice. Failing to Deliver Promised Benefits. System failures which result in consumers losing points when attempting to redeem them may be considered an unfair or deceptive practice. [ The National Law Review ] The government's financial watchdog cited some illegal card practices involving rewards © 2024 Bloomberg Finance LP U.S. Holiday Retail Sales Stronge
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News
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- Mastercard reports holiday retail spending stronger than last year Mastercard said consumers were "value-minded" and shopped at both brick-and-mortar stores and online platforms in search of attractive deals. USA TODAY [USA TODAY]USA TODAY
MA
Earnings
- 11/1/24 - Beat
MA
Sec Filings
- 12/9/24 - Form 4
- 11/13/24 - Form 8-K
- 11/12/24 - Form 144
- MA's page on the SEC website