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    FOR IMMEDIATE RELEASE
    December 7, 2011
    ABA Media Contact: Jeff Sigmund
    (202) 663-5439
    E-mail:     jsigmund@aba.com
    Follow us on Twitter: @ABABankingNews

    ABA STATEMENT ON CFPB MODEL CREDIT CARD AGREEMENT
    By Kenneth Clayton, chief counsel, American Bankers Association

              “For more than 20 years, the banking industry has strongly supported efforts to provide consumers with a short, easy-to-understand summary of their credit card agreement.  The model released by the Bureau is a good first step, but could be made even shorter, as well as less susceptible to costly lawsuits and the higher consumer prices that come from them.  We look forward to working with the Bureau to ensure disclosures provide exactly what our customers need and want to know, while maintaining consumer access to competition and choice in the marketplace.”

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     The American Bankers Association represents banks of all sizes and charters and is the voice for the nation’s $13 trillion banking industry and its two million employees.  Learn more at aba.com.