Federal Deception Law: 3.4.5 Marketing of Credit Card Promotional Offers
The CFPB has issued a bulletin informing credit card issuers of the risk of engaging in deceptive or abusive practices in connection with certain offers of promotional APRs on particular transactions.242 These offers provide zero or low interest rates for balance transfers or other advances without clearly disclosing to consumers that acceptance of the offer may lead to the consumer losing the grace period to make payments on new purchases.