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CFPB Director Rohit Chopra said that credit card issuers too often tell consumers about rewards without telling them about the availability of a card with a lower interest rate offered by the same issuer, according to the report.
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“With over $1 trillion in credit card debt outstanding, the CFPB will be accelerating its efforts to ensure that consumers can access better rates that can save families billions of dollars per year,” Chopra said in the release.
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