Terms of Credit Card Plans Survey

Terms of Credit Card Plans Survey The Terms of Credit Card Plans (TCCP) Survey was implemented in February 1990 as required by Section 5 of the Fair Credit and Charge Card Disclosure Act (FCCCA) of 1988. Each respondent provides information about its credit card plan with the largest outstanding number of cards. The FCCCA required the Federal Reserve to collect this information semiannually from the largest 25 issuers of credit cards and at least 125 additional institutions in a manner that ensured both an equitable geographic distribution within the sample and representation of a wide spectrum of institutions. The Federal Reserve was further directed to make the credit card price information for each institution available to the public upon request and to report the information semiannually to Congress. Consumer Credit Card Agreement Quarterly Submission On July 21, 2011, the Bureau assumed responsibility under the CARD Act for the quarterly collecting of credit card agreements in a publicly available database. Pursuant to 12 CFR 1026.58 and 15 U.S.C. 1632(d)(2)–(3), collection is mandated for all issuers (subject to de minimis exceptions), and the scope of the mandate may require submission of multiple different agreements for each issuer. See 15 U.S.C. 1632(d)(2) (“Each creditor shall provide to the Bureau, in electronic format, the consumer credit card agreements that it publishes . . . .”) (emphasis added); id. at 1632(d)(3) (“The Bureau shall establish and maintain on its publicly available Internet site a central repository of the consumer credit card agreements received from creditors pursuant to this subsection, and such agreements shall be easily accessible and retrievable by the public.”) (emphasis added). College Credit Card Agreement Annual Submission This collection is made pursuant to the CARD Act requirement, codified at 12 CFR 1026.57(d); 15 U.S.C. 1637(r). Every year, the CARD Act requires the Bureau to collect agreements in place between credit card issuers and institutions of higher education, as well as certain summary data about the credit cards offered pursuant to these agreements. See 15 U.S.C. 1637(r)(2)(A) (“Each creditor shall submit an annual report to the Bureau containing the terms and conditions of all business, marketing, and promotional agreements and college affinity card agreements with an institution of higher education, or an alumni organization or foundation affiliated with or related to such institution, with respect to any college student credit card issued to a college student at such institution.”). The CARD Act requires the Bureau to submit to Congress, and to make available to the public, an annual report that lists information submitted to the Bureau concerning agreements between credit card issuers and institutions of higher education or certain affiliated organizations. See id. 1637(r)(3) (“The Bureau shall submit to the Congress, and make available to the public, an annual report . . . .”). Affiliated organizations include fraternities, sororities, alumni associations, or foundations affiliated with or related to an institution of higher education. The Bureau provides this centralized repository on its website and also submits to Congress and publishes an annual report each year based upon the submitted data.

The latest form for Terms of Credit Card Plans Survey expires 2026-09-30 and is listed under ICR 202211-3170-003.

Terms of Credit Card Plan Survey

Federal Enterprise Architecture: Economic Development - Financial Sector Oversight

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