The House Committee on Financial Services is determining whether current credit card issuance regulations discriminate against stay-at-home spouses. A subcommittee explored the issue at a hearing on Wednesday.
At the hearing, Rep. Shelley Moore Capito (chair of the Financial Institutions and Consumer Credit Subcommittee) proposed draft legislation that would amend the Truth in Lending Act to force issuers to also consider an applicant’s spouse’s ability to repay borrowed credit. The amendment would take married persons’ credit application procedures back to the way they were prior to 2009.
Read more from the Committee here.
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