Report to the Congress on the Profitability of Credit
Card Operations of Depository Institutions
Submitted to the Congress pursuant to section 8 of the Fair Credit and Charge Card Disclosure Act of 1988, June 2012
Section 8 of the Fair Credit and Charge Card Disclosure Act of 1988 directs the Federal Reserve Board to transmit annually to the Congress a report about the profitability of credit card operations of depository institutions.1 This is the twenty-second report. The analysis here is based to a great extent on information from the Consolidated Reports of Condition and Income (Call Report) and two Federal Reserve surveys, the Quarterly Report of Credit Card Interest Rates and the Survey of Terms of Credit Card Plans.2
Footnotes
1. Refer to P.L. 100-583, 102 Stat. 2960 (1988). The 2000 report covering 1999 data was not prepared as a consequence of the Federal Reports Elimination and Sunset Act. The report was subsequently reinstated by law. Return to text
2. Responsibility for preparation of the Survey of Terms of Credit Card Plans was recently transferred to the Consumer Financial Protection Bureau. Refer to www.consumerfinance.gov. Return to text
