On May 9, the CFPB issued a new report highlighting the issues consumers encounter with credit card rewards programs. The report was released in conjunction with a hearing co-hosted with the Department of Transportation and featured remarks from Director Chopra and Secretary of Transportation Pete Buttigieg, along with panelists from consumer groups, policy advocacy organizations, financial institutions, and airlines. Chopra, in particular, noted the lack of transparency in the rewards market and how many card issuers engage in bait-and-switch scams. As described in further detail in the report, the Bureau found the following issues with rewards programs;Continue Reading CFPB Targets Credit Card Rewards Programs