US Watchdog Warns Credit Card Issuers Against Reward Devaluation
The US Consumer Financial Protection Bureau (CFPB) has issued a warning to credit card companies not to devalue or cancel rewards points, cash back, or miles earned by customers. The agency stated that this practice may be considered unfair, deceptive, and abusive, and could result in fines. As of 2022, three-quarters of all general-purpose credit … Read more