Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 5831 

ADDRESSES: You may submit comments, 

identified by the title of the information 

collection, OMB Control Number (see 

below), and docket number (see above), 

by any of the following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Email: CFPB_PRA@cfpb.gov. 

Include Docket No. CFPB–2025–0006 in 

the subject line of the email. 

• Mail/Hand Delivery/Courier: 

Comment Intake, Consumer Financial 

Protection Bureau (Attention: PRA 

Office), 1700 G Street, NW, Washington, 

DC 20552. Because paper mail in the 

Washington, DC area and at the CFPB is 

subject to delay, commenters are 

encouraged to submit comments 

electronically. 

Please note that comments submitted 

after the comment period will not be 

accepted. In general, all comments 

received will become public records, 

including any personal information 

provided. Sensitive personal 

information, such as account numbers 

or Social Security numbers, should not 

be included. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information 

should be directed to Anthony May, 

PRA Officer, at (304) 481–5511, or 

email: CFPB_PRA@cfpb.gov. If you 

require this document in an alternative 

electronic format, please contact CFPB_

Accessibility@cfpb.gov. Please do not 

submit comments to these email boxes. 

SUPPLEMENTARY INFORMATION: 

Title of Collection: Auto Loan Survey. 

OMB Control Number: 3170–00XX. 

Type of Review: New information 

collection. 

Affected Public: Individuals or 

households. 

Estimated Number of Respondents: 

5,060. 

Estimated Total Annual Burden 

Hours: 1,670. 

Abstract: Under the Dodd-Frank Wall 

Street Reform and Consumer Protection 

Act, the Consumer Financial Protection 

Bureau (CFPB) is charged with 

researching, analyzing, and reporting on 

topics relating to the CFPB’s mission, 

including consumer behavior, consumer 

awareness, and developments in 

markets for consumer financial products 

and services. To improve its 

understanding of how consumers 

engage with financial markets, the CFPB 

has successfully used credit record data 

as a sampling frame to survey people 

about their experiences in consumer 

credit markets. 

The CFPB seeks approval for a new 

survey of auto loan borrowers. The 

survey will use the CFPB’s Consumer 

Credit Information Panel (CCIP) as the 

sampling frame. This survey will solicit 

information on the consumer’s 

experience related to auto purchases 

and loans including choosing a vehicle 

and financing, experiences with major 

vehicle expenses, experiences with loan 

servicing, and, if applicable, loan 

modification and repossession. This 

survey will augment the auto finance 

data pilot and linked CCIP data by 

providing information not available in 

either source such as consumer 

demographics, household income and 

assets, income or expense shocks, 

understanding of the auto financing 

market, expectations, and self-reported 

experiences with auto-loan origination 

and servicing. The survey will follow 

similar methods as in the CFPB’s prior 

Making Ends Meet Survey (approved 

under OMB Control Number 3170– 

0066) and Student Loan Survey 

(approved under OMB Control Number 

3170–0078) but sample a different 

population of borrowers and focus 

primarily on auto loans. The CFPB 

expects to recruit about 23,000 

participants to participate in the survey. 

Request for Comments: Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

CFPB, including whether the 

information will have practical utility; 

(b) The accuracy of the CFPB;s estimate 

of the burden of the collection of 

information, including the validity of 

the methods and the assumptions used; 

(c) Ways to enhance the quality, utility, 

and clarity of the information to be 

collected; and (d) Ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of automated collection techniques 

or other forms of information 

technology. Comments submitted in 

response to this notice will be 

summarized and/or included in the 

request for OMB’s approval. All 

comments will become a matter of 

public record. 

Anthony May, 

Paperwork Reduction Act Officer, Consumer 

Financial Protection Bureau. 

[FR Doc. 2025–01142 Filed 1–16–25; 8:45 am] 

BILLING CODE 4810–AM–P 

CONSUMER FINANCIAL PROTECTION 

BUREAU 

[Docket No. CFPB–2025–0004] 

Request for Information Regarding 

Consumer Credit Card Market 

AGENCY: Consumer Financial Protection 

Bureau. 

ACTION: Notice and request for 

information. 

SUMMARY: The Credit Card 

Accountability Responsibility and 

Disclosure Act of 2009 (CARD Act or 

Act) requires the Consumer Financial 

Protection Bureau (CFPB) to conduct a 

review (Review) of the consumer credit 

card market, within the limits of its 

existing resources available for reporting 

purposes. In connection with 

conducting that Review, and in 

accordance with the Act, the CFPB is 

soliciting information from the public 

about a number of aspects of the 

consumer credit card market as 

described further below. 

DATES: Comments must be submitted on 

or before April 17, 2025 to be assured 

of consideration. 

ADDRESSES: You may submit responsive 

information and other comments, 

identified by the document title and 

Docket No. CFPB–2025–0004, by any of 

the following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Email: 2025_

ConsumerCreditCardMarketRFI@

cfpb.gov. Include the document title and 

Docket No. CFPB–2025–0004 in the 

subject line of the message. 

• Mail/Hand Delivery/Courier: 

Comment Intake, Request for 

Information Regarding Consumer Credit 

Card Market, Consumer Financial 

Protection Bureau, c/o Legal Division 

Docket Manager, 1700 G Street NW, 

Washington, DC 20552. Because paper 

mail in the Washington, DC area and at 

the CFPB is subject to delay, 

commenters are encouraged to submit 

comments electronically. 

Instructions: The CFPB encourages 

the early submission of comments. All 

submissions should include the agency 

name and docket number for this 

request for information. Please note the 

number of the topic on which you are 

commenting at the top of each response 

(you do not need to address all topics.) 

In general, all comments received will 

be posted without change to http://

www.regulations.gov. All comments, 

including attachments and other 

supporting materials, will become part 

of the public record and subject to 

public disclosure. Sensitive personal 

information, such as account numbers 

or Social Security numbers, should not 

be included. Comments generally will 

not be edited to remove any identifying 

or contact information. 

FOR FURTHER INFORMATION CONTACT: 

Daniel Martinez, Consumer Credit, 

Payments, and Deposits Markets Senior 


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5832 Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 

1See 15 U.S.C. 1616(a). 

2See 15 U.S.C. 1616(b). 

3CARD Act Report, http://

files.consumerfinance.gov/f/201309_cfpb_card-actreport.pdf; The Consumer Credit Card Market, 

available at http://files.consumerfinance.gov/f/ 

201512_cfpb_report-the-consumer-credit-cardmarket.pdf; The Consumer Credit Card Market, 

https://files.consumerfinance.gov/f/documents/ 

cfpb_consumer-credit-card-market-report_2017.pdf; 

The Consumer Credit Card Market, https://

files.consumerfinance.gov/f/documents/cfpb_

consumer-credit-card-market-report_2019.pdf; The 

Consumer Credit Card Market, https://

files.consumerfinance.gov/f/documents/cfpb_

consumer-credit-card-market-report_2021.pdf; 

4The CARD Act’s provisions took effect in three 

stages: August 2009, February 2010, and October 

2011. 

5Pub. L. 111–24, 123 Stat. 1734 (2009). 

6See CARD Act Report at 10–13, http://

files.consumerfinance.gov/f/201309_cfpb_card-actreport.pdf. 

Program Manager, Division of Research, 

Markets, and Regulations, at (202) 435– 

7700, or Daniel.Martinez@cfpb.gov. If 

you require this document in an 

alternative electronic format, please 

contact CFPB_Accessibility@cfpb.gov. 

SUPPLEMENTARY INFORMATION: Section 

502(a) of the CARD Act 1 requires the 

CFPB to conduct a review, within the 

limits of its existing resources available 

for reporting purposes, of the consumer 

credit card market every two years. To 

inform that review, section 502(b) 

instructs the CFPB to seek public 

comment.2

The CFPB’s first such review was 

published in October 2013; the CFPB’s 

second such review was published in 

December 2015; the CFPB’s third such 

review was published in December 

2017; the CFPB’s fourth such review 

was published in August 2019; the 

CFPB’s fifth such review was published 

in September 2021; the CFPB’s sixth 

such review was published in October 

2023.3 To inform the CFPB’s next 

review, the CFPB hereby invites 

members of the public, including 

consumers, credit card issuers, industry 

analysts, consumer groups, and other 

interested persons to submit 

information and other comments 

relevant to the issues expressly 

identified in section 2 below, as well as 

any information they believe is relevant 

to a review of the credit card market. 

1. Background: the CARD Act 

The CARD Act was signed into law in 

May 2009.4 Passage of the Act was 

expressly intended to ‘‘establish fair and 

transparent practices related to the 

extension of credit’’ in the credit card 

market.5 To achieve these agreed-upon 

purposes, the Act changed the 

requirements applicable to credit card 

practices in a number of significant 

respects.6

2. Issues on Which the CFPB seeks 

public comment for its Review 

In connection with its pending 

Review, the CFPB seeks information 

from members of the public about how 

the credit card market is functioning. 

The CFPB seeks comments on the 

experiences of consumers and credit 

card issuers in the credit card market 

and on the overall health of the credit 

card market, as outlined in section 

502(a) and in (1) through (7) below. 

While the CFPB identifies specific 

topics of interest below, the CFPB also 

wants to be alerted to and understand 

the information that consumers, credit 

card issuers, industry analysts, 

consumer groups, and other interested 

persons believe is most relevant to the 

CFPB’s review of the credit card market, 

so this list of subjects should not be 

viewed as exhaustive. Commenters are 

encouraged to address any other aspects 

of the consumer credit card market that 

they believe would be of interest or 

concern to the CFPB. 

Please feel free to comment generally 

or respond to any or all of the questions 

below but please indicate in your 

comments on which topic areas or 

questions you are commenting: 

(1) The terms of credit card 

agreements and the practices of credit 

card issuers 

a. How have the substantive terms 

and conditions of credit card 

agreements or the length and 

complexity of such agreements changed 

over the past two years? 

b. How have issuers changed their 

pricing, marketing, underwriting, or 

other practices? 

c. How are the terms of, and practices 

related to, major supplementary credit 

card features (such as credit card 

rewards, deferred interest promotions, 

balance transfers, and cash advances) 

evolving? What are the terms of, 

practices related to, and prevalence of 

emerging supplementary credit card 

features? 

d. How have issuers’ marketing 

practices changed since the CFPB 

reported on the credit card market in 

2023? If so, in what ways? 

e. What practices of credit card 

issuers may uniquely affect special 

populations (such as servicemembers 

and their dependents, low- and 

moderate-income consumers, older 

Americans, and students)? What are the 

effects of protections specific to special 

populations (for example, consumers 

with non-prime credit scores)? How are 

these changing and what, if any, trends 

are evolving? 

f. How have practices related to 

collecting on delinquent and charged-off 

credit card debt? 

g. Has the use of electronic 

communication (e.g., email or SMS) by 

creditors and debt collectors in 

connection with credit card debt grown 

or otherwise evolved? If so, in what 

ways? 

h. How are the practices of for-profit 

debt settlement companies changing 

and what trends are occurring in the 

debt settlement industry? How are 

creditors and non-profit credit 

counseling agencies responding to these 

changes and trends? 

(2) The effectiveness of disclosure of 

terms, fees, and other expenses of credit 

card plans 

a. How effective are current 

disclosures of rates, fees, and other cost 

terms of credit card accounts in 

conveying to consumers the costs of 

credit card plans? 

b. What further improvements in 

disclosure, if any, would benefit 

consumers and what costs would card 

issuers or others incur in providing such 

disclosures? 

c. How well are current credit card 

disclosure rules and practices adapted 

to the digital environment? What 

adaptations to credit card disclosure 

regimes in the digital environment 

would better serve consumers or reduce 

industry compliance burden? 

(3) The adequacy of protections 

against unfair or deceptive acts or 

practices relating to credit card plans 

a. What unfair, deceptive, or abusive 

acts and practices exist in the credit 

card market? How prevalent are these 

acts and practices and what effect do 

they have? With regard to any unfair, 

deceptive, or abusive acts and practices 

that exist in the credit card market, how 

might any such conduct be prevented 

and at what cost? 

(4) The cost and availability of 

consumer credit cards 

a. How have the cost and availability 

of consumer credit cards (including 

with respect to non-prime borrowers) 

changed since the CFPB reported on the 

credit card market in 2023? What is 

responsible for changes (or absence of 

changes) in cost and availability? Has 

the impact of the CARD Act on cost and 

availability changed over the past two 

years? 

b. How, if at all, are the characteristics 

of consumers with lower credit scores 

changing? How are groups of consumers 

in different score tiers faring in the 

market? How do other factors relating to 

consumer demographics or financial 

lives affect consumers’ ability to 

successfully obtain and use credit 

cards? 

c. How have market trends and issuer 

practices pertaining to deferred interest 


KHAMMOND on DSK9W7S144PROD with NOTICES
Federal Register / Vol. 90, No. 11 / Friday, January 17, 2025 / Notices 5833 

evolved since the CFPB’s prior Review 

of the product in 2021? 

d. What are the practices and metrics 

of ‘‘issuers who specialize in providing 

credit cards to consumers with lower 

credit scores? How are credit card-as-aservice partnerships changing the cost 

and availability of credit for consumers? 

e. How are consumers’ credit needs 

evolving? How are consumers’ spending 

patterns changed over time and reflect 

the demand for credit? Are non-prime 

consumers transacting more on essential 

goods and services? 

f. How are paper statement fees 

impacting the cost of credit? What 

proportion of consumers receive paper 

statements? 

g. How is competition in the 

consumer credit card market changing? 

How has the CARD Act (positively or 

negatively) impacted competition 

between credit card issuers? How, if at 

all, do these changes and impacts relate 

to the cost or availability of consumer 

credit cards? 

(5) The safety and soundness of credit 

card issuers 

a. How is the credit cycle evolving? 

What, if any, safety and soundness risks 

are present or growing in this market, 

and which entities are 

disproportionately affected by these 

risks? How, if at all, do these safety and 

soundness risks to entities result from or 

otherwise relate to long-term 

indebtedness on the part of some 

consumers, or changes in consumers’ 

ability to manage their debts? Has the 

impact of the CARD Act on safety and 

soundness changed over the past two 

years? 

(6) The use of risk-based pricing for 

consumer credit cards 

a. How has the use of risk-based 

pricing for consumer credit cards 

changed since the CFPB reported on the 

credit card market in 2023? What has 

driven those changes or lack of changes? 

Has the impact of the CARD Act on riskbased pricing changed over the past two 

years? 

b. How have CARD Act provisions 

relating to risk-based pricing impacted 

(positively or negatively) the evolution 

of practices in this market? 

c. Are changes in consumers’ credit 

scores leading to both upward and 

downward APR repricing? Are 

incidence in one direction more 

common than the other? 

(7) Consumer credit card product 

innovation 

a. How has credit card product 

innovation changed since the CFPB 

reported on the credit card market in 

2023? What has driven those changes or 

lack of changes? Has the impact of the 

CARD Act on product innovation 

changed over the past two years? 

b. How have broader innovations in 

finance, such as (but not limited to) new 

products and entrants offering unique 

features, evolving digital tools, greater 

availability of and new applications for 

consumer data, and new technological 

tools (like artificial intelligence), 

impacted the consumer credit card 

market, either directly or indirectly? In 

what ways do CARD Act provisions 

encourage or discourage innovation? In 

what ways do innovations increase or 

decrease the impact of certain CARD 

Act provisions, or change the nature of 

those impacts? 

Rohit Chopra, 

Director, Consumer Financial Protection 

Bureau. 

[FR Doc. 2025–01201 Filed 1–16–25; 8:45 am] 

BILLING CODE 4810–AM–P 

CONSUMER FINANCIAL PROTECTION 

BUREAU 

[Docket No. CFPB–2025–0007] 

Agency Information Collection 

Activities: Comment Request 

AGENCY: Consumer Financial Protection 

Bureau. 

ACTION: Notice and request for comment. 

SUMMARY: In accordance with the 

Paperwork Reduction Act of 1995 

(PRA), the Consumer Financial 

Protection Bureau (CFPB) requests the 

extension of the Office of Management 

and Budget’s (OMB’s) approval for an 

existing information collection, titled 

‘‘Generic Information Collection Plan 

for the Collection of Qualitative 

Feedback on Bureau Service Delivery,’’ 

approved under OMB Control Number 

3170–0024. 

DATES: Written comments are 

encouraged and must be received on or 

before March 18, 2025 to be assured of 

consideration. 

ADDRESSES: You may submit comments, 

identified by the title of the information 

collection, OMB Control Number (see 

below), and docket number (see above), 

by any of the following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Email: CFPB_PRA@cfpb.gov. 

Include Docket No. CFPB–2025–0007 in 

the subject line of the email. 

• Mail/Hand Delivery/Courier: 

Comment Intake, Consumer Financial 

Protection Bureau (Attention: PRA 

Office), 1700 G Street NW, Washington, 

DC 20552. Because paper mail in the 

Washington, DC area and at the CFPB is 

subject to delay, commenters are 

encouraged to submit comments 

electronically. 

Please note that comments submitted 

after the comment period will not be 

accepted. In general, all comments 

received will become public records, 

including any personal information 

provided. Sensitive personal 

information, such as account numbers 

or Social Security numbers, should not 

be included. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information 

should be directed to Anthony May, 

PRA Officer, at (304) 481–5511, or 

email: CFPB_PRA@cfpb.gov. If you 

require this document in an alternative 

electronic format, please contact CFPB_

Accessibility@cfpb.gov. Please do not 

submit comments to these email boxes. 

SUPPLEMENTARY INFORMATION: 

Title of Collection: Generic 

Information Collection Plan for the 

Collection of Qualitative Feedback on 

Bureau Service Delivery. 

OMB Control Number: 3170–0024. 

Type of Review: Extension of a 

currently approved information 

collection. 

Affected Public: Individuals and 

households; private sector; and State, 

Local, and Tribal Governments. 

Estimated Number of Respondents: 

500,000. 

Estimated Total Annual Burden 

Hours: 125,000. 

Abstract: This generic information 

collection plan provides for the 

collection of qualitative feedback from 

consumers, financial institutions, and 

stakeholders on a wide range of services 

the CFPB provides in an efficient, 

timely, manner in accordance with the 

CFPB’s commitment to improving 

service delivery. By qualitative 

feedback, the CFPB means information 

that provides useful insights on, for 

example, comprehension, usability, 

perceptions, and opinions, but are not 

statistical surveys that yield quantitative 

results that can be generalized to the 

population of study. The CFPB expects 

this feedback to include insights into 

consumer, financial institution or 

stakeholder perceptions, experiences, 

and expectations, provide an early 

warning of issues with service, or focus 

attention on areas where 

communication, training or changes in 

operations might improve delivery of 

products or services. These collections 

will allow for ongoing, collaborative, 

and actionable communications 

between the CFPB and consumers, 

financial institutions, and stakeholders. 

It will also allow feedback to contribute 

directly to the improvement of program 

management. 


KHAMMOND on DSK9W7S144PROD with NOTICES