The Consumer Financial Protection Bureau (CFPB) is inviting credit card issuers to voluntarily submit data on credit card prices and availability. This information can be provided through the CFPB's Terms of Credit Card Plans (TCCP) Survey, which aims to improve transparency and help consumers compare credit card offers. The initiative seeks to create competition and empower consumers to make informed choices, with the ultimate goal of updating the TCCP Survey to enhance its usefulness for the public. Credit card issuers can begin participating by visiting the provided CFPB website.
Simple Explanation
The government agency called the Consumer Financial Protection Bureau wants credit card companies to share information about their prices and availability to help people choose the best card. This is like a card show and tell to make it easier for everyone to compare options.