June 1, 2016 Alert - SFIG Issues Credit Card Disclosure Best Practices
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June 1, 2016
 


SFIG ISSUES CREDIT CARD DISCLOSURE BEST PRACTICES

SFIG is pleased to announce the release of two credit card disclosure best practices. The best practices are a combined product of SFIG’s Investor and Credit Card Issuer Committees and are targeted towards enhancing disclosure practices of issuers that conduct registered offerings and sales of credit and charge card ABS, notably regarding quarterly updates of static pool information and, where applicable, information regarding retailer concentration.

As member-endorsed practices, SFIG strongly encourages their adoption by issuers of registered Card ABS, while recognizing that as best practices, members are not under a mandatory obligation to adopt the recommendations herein.

The best practices are complementary to existing requirements under the SEC’s Asset-Backed Securities Disclosure and Registration Final Rule. SFIG believes that industry-derived best practices may often present a more flexible and market-sensitive solution than formal regulation, and we applaud our members for coming to consensus.  

Please reach out to Jennifer.Wolfe@sfindustry.org with any questions.

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