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U.S. Consumer Financial Protection Bureau: Proposed revisions to credit-card 'ability to pay' provision affecting stay-at-home spouses [Proposed rule]

( October 17, 2012, 17:50 GMT | Official Statement) -- MLex Summary: The U.S. Consumer Financial Protection Bureau delivered on a promise to propose remedies for stay-at-home spouses who were blocked from getting credit cards because of an 'ability to pay' provision in 2009 legislation that requires banks to verify the income of a card applicant.Statement follows in full. Also see rule proposal attached below....

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