CFPB finalizes stay-at-home spouse CARD Act rule

The Consumer Financial Protection Bureau finalized rule revisions intended to ensure that stay-at-home spouses have access to credit cards. The amendments came after consumer advocates argued that current rules requiring issuers to consider individual rather than household income unfairly impact stay-at-home parents who may seek to obtain a credit card in their own name. Read on to learn about the final rule and how the CFPB responded to suggestions from the banking industry.