DOT and CFPB Hearings Led by Secretary Pete Scrutinize Airline Credit Card Rewards

May 9, 2024, 05:28 PM

Federal regulators, including the Department of Transportation (DOT) and the Consumer Financial Protection Bureau (CFPB), are conducting hearings to scrutinize airline credit card rewards programs. The hearings, initiated by Secretary Pete, aim to assess competition and ensure consumers are receiving the promised rewards. These programs have been criticized for being complicated and misleading, making it difficult for consumers to earn and redeem points. The outcome could potentially influence the structure of credit card rewards and impact frequent fliers' ability to benefit from their miles. NBC's @bcheungz reports on this development.