WASHINGTON, D.C. – Congressman Ami Bera, M.D. (CA-07) today sent a letter to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger urging the release of CFPB guidance for lenders and credit reporting agencies to protect consumers who pay their bills by mail and are being impacted by United States Postal Service (USPS) delays.
“Americans across the country rely on the Postal Service to pay for their credit card, phone, and medical bills,” said Rep. Bera. “Through no fault of their own, many of my constituents and small business owners in Sacramento County have received bills in the mail past the date they are due or have mailed on-time payments which arrived past their due dates, resulting in late fees and negative credit scores. All consumers, especially our seniors, should be able to receive bills and make payments in the form they are comfortable with without the fear of a fee because of the failed leadership of the USPS.”
The Truth in Lending Act stipulates that credit card companies provide a reasonable deadline for payments received by mail. Given the postal delays at the USPS, Rep. Bera requests that the CFPB reevaluate what constitutes a reasonable deadline for consumers. Until the USPS addresses these shortcomings, Rep. Bera is calling on the CFPB to provide guidance to lenders to ensure error resolution protections and prevent unfair late fees, and issue guidance to credit reporting agencies to ensure that these delays are not negatively impacting consumers’ credit scores.
Fifteen Members of Congress joined Bera in signing the letter. Click here to view the full letter.
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