Credit Cards: An Overview

Date Recorded: February 4, 2025
Presenter: Ginger McCullough, Manager, Forvis Mazars, LLP

A two-hour webinar focusing on the fundamentals of credit card compliance.

Credit cards may seem like they’re simple enough – a consumer has a line of credit with a lender, and can access the line of credit by using a card… but, in fact, they’re one of the most regulated types of credit out there.  Due to the abuses carried out by some credit card providers, the Credit CARD Act of 2009 had a tremendous impact on credit cards. Implemented through a series of amendments to Regulation Z, credit card rules were revised and clarified, resulting in regulations that are highly complex and detailed.

This webinar will provide a basic overview of Regulation Z’s provisions relating to credit cards. We will discuss those rules that generally apply to open-end credit, as well as those that are specific to credit cards, such as applications, card issuances, unauthorized use, and ability-to-repay.
This webinar is perfect for those smaller institutions that rely on third-party vendors to do the “heavy lifting” of most compliance but still need to have a good understanding of certain aspects of the process and an overview of the remainder.

HERE IS WHAT YOU WILL LEARN:

• How to provide applications and solicitations, and what early disclosures are required;
• Ability-to-repay;
• Account-opening disclosures, issuance of credit cards, and liability for unauthorized use;
• Periodic statement, change in terms, and renewal requirements;
• Allocation of payments;
• Limitations on fees and on increasing the APR, fees, and charges; and
• Requirements for over-the-limit transactions.