U.S. Consumer Bureau Proposes Simplified Credit-Card Form

The U.S. Consumer Financial Protection Bureau announced plans for a simplified credit-card agreement that spells out the cost of using credit cards in easy-to-understand English.

The standardized, two-page card agreement outlines prices, risks and terms that are shorter and more concise than conventional agreements, augmented by an online glossary to aid consumers on such items as billing disputes, privacy, rights, interest-rate calculations and the consequences of late payments.