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NAFCU and other financial industry trade groups Wednesday called on the CFPB to delay the submission deadline of its Terms of Credit Card Plans (TCCP) survey, which is currently set for today, and provide credit card issuers with clarity on longstanding questions. The bureau in March updated the survey to provide consumers with more information related to interest rates.

“Because of the lack of a meaningful review period for the updated TCCP survey data, discussed in detail in our earlier comment letters, and because of the complexity and volume of information required by the updated TCCP survey, there is an unreasonably short window for credit card issuers to submit the updated TCCP survey responses,” the groups wrote, noting that credit card issuers would have only 23 businesses days to compile data and meet requirements for the new data submission.

The groups expressed concerns about the bureau’s lack of clarity, complexity of calculations, and FAQs that don’t address substantive interpretations related to data calculation and reporting. These issues make consumer comparison irrelevant.

“A rush to collect data will diminish the quality of data that issuers are able to provide,” they wrote. “Errors or inconsistencies due to unclear requests will result in consumer confusion and unreasonable reporting expectations for issuers.”

The trades urged the bureau to extend the current submission deadline to Sept. 1, which is the next planned date for the TCCP survey.