On August 20, 2021 the Consumer Financial Protection Bureau (CFPB) issued new technical specifications for complying with credit card agreement and data submission requirements under TILA and the CARD Act (Regulation Z). Credit card issuers will use the CFPB’s “Collect” website to submit the following data to the CFPB, starting with listed submission dates and into the future:
- Terms of Credit Card Plans (TCCP) Survey data (for the February 14, 2022 deadline)
- Quarterly credit card agreement submissions (for the January 31, 2022 deadline)
- Annual reports related to college credit card marketing agreements and data (for the March 31, 2022 deadline)
To use Collect, card issuers must fill out and email the Collect registration form to: Collect_Sup- email@example.com. The registration form can be downloaded here. Issuers who are selected to participate in the TCCP Survey or are required to submit an annual report pursuant to 12 CFR 1026.57, will begin registering for Collect as of August 20, 2021. Issuers who participate in the TCCP Survey who have registered for Collect in the past do not need to register again.
Credit card issuers who are required to make quarterly credit card submissions in accordance with 12 CFR 1026.58(c) must register for Collect by November 1, 2021. Once card issuers receive their login credentials, starting on December 1, 2021, they will be able to review their current submissions and make the required submissions for the fourth quarter of calendar year 2021, using Collect. For more details, you can view the technical specifications here.
The CFPB also noted it is in the process of updating and publishing resources to help card issuers use Collect. You can access existing TCCP Collect resources here. At a later date, the Bureau will publish resources for the quarterly credit card agreement submissions and annual reports related to college credit card marketing agreements and data here.