Survey on proposed “ability-to-pay” amendments

Does your credit union issue credit cards?

Yes   No

Individuals who are applying for a credit card or requesting a credit increase must have an independent source of income. Under the proposed amendments, household income could be considered as long as the applicant has a reasonable expectation of access to the funds and is at least 21 years of age. Do you agree with these amendments?

Yes   No

Why?

Regulators have proposed three examples of when applicants 21 years or older have a "legitimate expectation of access" to household income which could be taken into account when approving a credit card application. Please indicate your agreement with each example below.

	Agree	Disagree	Need more clarification
The household member’s salary is deposited into a joint account shared with the applicant.	The household member’s salary is deposited into a joint account shared with the applicant. Agree	The household member’s salary is deposited into a joint account shared with the applicant. Disagree	The household member’s salary is deposited into a joint account shared with the applicant. Need more clarification
The household member’s salary is deposited into an account to which the applicant does not have access, but the funds are regularly transferred to an account that the applicant can access to pay household and other expenses.	The household member’s salary is deposited into an account to which the applicant does not have access, but the funds are regularly transferred to an account that the applicant can access to pay household and other expenses. Agree	The household member’s salary is deposited into an account to which the applicant does not have access, but the funds are regularly transferred to an account that the applicant can access to pay household and other expenses. Disagree	The household member’s salary is deposited into an account to which the applicant does not have access, but the funds are regularly transferred to an account that the applicant can access to pay household and other expenses. Need more clarification
No portion of the household member’s salary is deposited into an account to which the applicant has access, but the household member regularly pays for the applicant’s expenses.	No portion of the household member’s salary is deposited into an account to which the applicant has access, but the household member regularly pays for the applicant’s expenses. Agree	No portion of the household member’s salary is deposited into an account to which the applicant has access, but the household member regularly pays for the applicant’s expenses. Disagree	No portion of the household member’s salary is deposited into an account to which the applicant has access, but the household member regularly pays for the applicant’s expenses. Need more clarification