US consumer watchdog to examine credit card rewards, director says

(Reuters) – The top U.S. agency for consumer financial protection will scrutinize credit card reward programs after a surge in customer complaints, its chief said on Tuesday.

Rohit Chopra, director of the U.S. Consumer Financial Protection Bureau, has clashed with credit card issuers since last year over regulations capping late fees.

“We are going to be looking into the credit card rewards market due to an increase in consumer complaints,” Chopra told reporters on the sidelines of an industry conference in Washington.

(Reporting by Nupur Anand and Douglas Gillison in Washington, editing by Lananh Nguyen)