Federal Drive

Credit union tests simpler credit card agreement

In a move toward clarity, the Pentagon Federal Credit Union is testing an easier to understand credit card agreement designed by the Consumer Financial Protecti...

Federal News Network Staff

December 8, 2011 8:37 am

< a min read

A simpler credit card agreement is getting a tryout. ConsumerFinance.gov reports the Consumer Financial Protection Bureau has released a prototype of a credit card agreement that’s written in plain English. The form will be tested over the first half of 2012 with new credit card applicants at the Pentagon Federal Credit Union. For now, there are no plans to require credit card companies to adopt the form. (Consumer Finance)

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