On August 17, 2012, the Consumer Financial Protection Bureau (CFPB) issued a proposal to amend Regulation Z, which implements the Truth in Lending Act (TILA) and the official interpretation to the regulation, which interprets the requirements of Regulation Z. Regulation Z generally prohibits a card issuer from opening a credit card account for a consumer, or increasing the credit limit applicable to a credit card account, unless the card issuer considers the consumer’s ability to make required payments under the terms of such account. Under existing rules, a card issuer may only consider the individual card applicant’s income or assets. The CFPB requests comment on proposed amendments that would remove the independent ability-to-pay requirement for consumers who are 21 or older.