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BankNet

BankNet
More resources for national banks

Credit Cards

The credit card business entails bank management involvement in all aspects of the product line, including marketing, solicitations, credit reporting, recordkeeping, rate policies, and risk management. National banks manage their credit card products within a regulatory framework designed to protect consumers and ensure safe and sound practices. Follow the links on this page to regulatory resources related to the credit card business.

References

AL = Advisory Letter
OCC=Bulletin

Consumer Credit Reporting Practices (OCC 2000-3, February 2000), Advisory Letter (Federal Financial Institutions Examination Council, January 2000)
Covers gaps in reporting problem credit histories to the credit bureaus by credit card issuers and lenders

Credit CARD Act of 2009 Interest Rate Increases/Consumer Protections Guidance (OCC 2009-25, July 2009)
Reminds national banks to conduct the required periodic reviews on any accounts on which APRs were increased

Credit Card Lending: Account Management and Loss Allowance Guidance (OCC 2003-1, January 2003), Interagency Guidance
Provides guidance for account risk, risk management, and loss allowance practices to institutions engaged in credit card lending

Credit Card Practices (AL 2004-10, September 2004)
Covers solicitations offering credit up to a maximum amount, promotional interest rates, and disclosures on rate increases

Credit Card Preapproved Solicitations (AL 1996-7, September 1996)
Alerts national banks to the risks associated with preapproved solicitations of credit cards

Gift Card Disclosures, Guidance on Disclosure and Marketing Issues (OCC 2006-34, August 2006)
Provides guidance to national banks on disclosure and marketing issues related to gift cards and informing consumers of terms and conditions

Secured Credit Cards (AL 2004-4, April 2004)
Helps national banks identify risks related to secured credit cards and provides guidance for addressing these risks in a safe and sound manner