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Summary of Delinquency Offers*BalanceReductionPayment Plan orReduced APR/ PaymentMatch PaymentAmerican Express None collected to date. None collected to date. None collected to date.ChaseYes. No details in anyoffer.Yes. Payments applied toprincipal.None collected to date.Bank of AmericaNone collected to date.Yes. Offered to late stagedelinquency, must makeminimum payment.Yes. Matched paymentis paid as waivedfinance charges.CitibankYes. Forgive balancesup to 60% of O/SYes. No details in any offer.Yes. Citi will match20% of paymentsDiscoverNone collected to date.Yes. If 3 minimum paymentsare made, account isconsidered reinstated.None collected to date.Capital OneYes. Forgive 40% ofthe balance.Yes. Reduced payment andAPR.None collected to date.*NOTE: This summary is only for explicit offers provided by the issuers. Most issuers include wording in delinquencynotifications implying that they will work with cardholders to find a solution such as modifying payments or reducing theamount owed. Those type of statements are not included in this summary. This summary does not include collectionagency offers.Based on data collected through January 2010.Copyright © 2010 Lightspeed Research. Proprietary and Confidential. All rights reserved.38
Debit Card OverdraftsCredit cards are not the only product being targeted by legislation.• The Federal Reserve has issued a ruling related to Regulation E (which governs ElectronicFund Transfers) that no longer permits banks to automatically assign overdraft protection (andthe related fees) to consumers for ATM and one-time debit transactions.― Once the ruling goes into effect (scheduled for July 1 st ), consumers will have to opt-in tothis overdraft protection rather than have it automatically given to them.• Two of the nation's largest banks -- Bank of America and Chase – have already staked outdistinct positions:― Bank of America announced in March it will stop authorizing point-of-sale debit cardpurchases this summer if the transaction would result in an overdraft.• Bank of America customers will “still have the choice to link their checking account toanother account through Overdraft Protection” in order to cover overdrafttransactions.― Meanwhile, Chase is allowing customers to opt-in to overdraft coverage for debit cardpurchases.• Chase has been mailing on a large scale to customers, alerting them of the changewhich requires them to opt-in by phone, online, or in a branch before Aug. 15, 2010.Chase will continue its current policy of not allowing overdrafts on ATM withdrawals.Copyright © 2010 Lightspeed Research. Proprietary and Confidential. All rights reserved.39
Page 1: Credit Card Issuers' Responses toU.
Page 4: Credit CARD Act - Consumer Protecti
Page 7 and 8: Credit CARD Act - Consumer Protecti
Page 9 and 10: Credit CARD Act - Consumer Protecti
Page 11 and 12: Credit CARD Act - Enhanced Consumer
Page 13 and 14: Credit CARD Act - Protection of You
Page 15 and 16: About the Credit Card Terms Trackin
Page 17 and 18: Recent Highlights• In the weeks l
Page 19 and 20: Cardholders Receiving Changes in Te
Page 23 and 24: Comparison of Balance Transfer (and
Page 25 and 26: Specific Examples: Bank of America
Page 27 and 28: Specific Examples: Chase Changes in
Page 29 and 30: Specific Examples: Citi Special Off
Page 31 and 32: Specific Examples: New Easy-to-Unde
Page 33 and 34: New Card and Existing Account Offer
Page 35 and 36: Pricing / Duration Competitive Summ
Page 37: Promotional Rate Examples (Continue
Page 41 and 42: Appendix Slides: Competitive Summar
Page 43 and 44: Appendix: Competitive Summary -- Pa
Page 45 and 46: Appendix: Competitive Summary -- Tr

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