As part of its "know before you owe" campaigns, the CFPB has launched commonsense initiatives on mortgage disclosure forms and student aid agreements, and as Jay just mentioned, today they're launching a new initiative to create a model credit card agreement that is shorter, clearer, and explains terms up front.
"If you attempt to impose ... a credit card and registration model ... there will be a substantial loss of readership, " said David Sobel, general counsel for the Electronic Privacy Information Center, describing part of the plaintiffs' strategy.