Litigation fears may impede industry support for shorter credit card term agreements, even though most issuers agree reducing the amount of text is a nice idea.

The Consumer Financial Protection Bureau last week unveiled a prototype for a simplified card agreement. The roughly 1,100 words it contains cuts about 80% of the language from the average 5,000-word version most issuers use.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.