This story appeared in Bank Digest.
The Consumer Financial Protection Bureau is proposing two new information collections. The first information collection is entitled, "Consumer and College Credit Card Agreements." Sections 204 and 305 of the Credit Card Accountability Responsibility and Disclosure Act require card issuers to submit to the CFPB: agreements between the issuer and a consumer under a credit card account for an open-end consumer credit plan; and any college credit card agreements to which the issuer is a party plus certain additional information regarding those agreements. The data collections enable the CFPB to provide consumers with a centralized depository for consumer and college credit card agreements. They also present information to the public regarding the arrangements between financial institutions and institutions of higher education.