http://www.dailyfinance.com/2012/05...le/?ncid=txtlnkusaolp00000058?test=latestnews The CPFB was instituted by the 111th Congress -- which had democratic majorities in both the House and the Senate. The CPFB is headed by Richard Cordray (a recess appointment by the president). The Credit CARD Act (also known as the Credit Cardholders Bill of Rights) was signed into law in 2009 by the president. The intent of the law was to prohibit unfair/abusive credit card company practices, and make rates and fees more transparent. But what it did was also dictate to credit card companies who they could approve for accounts; it's that restriction that basically identified stay-at-home moms (and dads) as "non-wage earners," and thus relegating them to a "lesser status" than those that choose to allow others to raise their children.