US regulators investigate credit card rewards 'bait and switch' schemes

Federal officials on Thursday announced that they are investigating "bait and switch" schemes associated with credit card rewards and travel programs.   

The Consumer Financial Protection Bureau (CFPB) analyzed "several hundred consumer complaints" that are related to the administration of credit card rewards programs. In its analysis, the agency said it identified four recurring issues that resulted in consumers either not receiving the rewards they were promised, facing unexpected promotional conditions...