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Old Apr 16, 2024, 11:30 am
  #40  
phltraveler
 
Join Date: May 2013
Location: New York
Programs: UA Silver, Marriott LTPP, Hertz Five Star
Posts: 1,080
Originally Posted by G2244
Looks like there is now an official DOT and CFPB hearing to take place on May 9th that is focused on both the FF programs themselves as well as related credit cards:

TPG Article
I would note that the focus here seems to be moreso on that commitments of sign up bonuses and earn rates are met, as well as if the marketing is misleading (50,000 miles, enough for two roundtrip tickets [if you can find a 12.5k per direction super saver rate) and the business practices towards consumers (devaluations with little warning, restrictions on award availability etc)... by the DOT and CFPB. None of the panelists are from the largest US issuing banks or the largest US airlines.

Durbin wanted open testimony on "how the sausage is made" in terms of how much airlines pay for these deals, how much banks pay for miles, etc... basically with Durbin as the chair of the Senate Judiciary Committee, "inviting" big airline CEOs (Delta, American, United) to testify. They've obviously not entertained that invitation thus far.

So these two on their face seem to be about very different conversations.
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