CardWorks
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3 Star Rating
Verified CustomerWas my etrade card. Then they discontinued it. So i paid it off and closed it. Wasnt getting etrade rewards anymore so it wasnt worth keeping for me.
Product: CardWorks Credit Cards
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CardWorks
CardWorks Servicing provides comprehensive service and support to bankcard issuers in the United States and Canada. Our management expertise extends across the credit spectrum, and our customized servicing solutions enable banks and financial institutions to mitigate risk, increase profitability, and support their customers. At CardWorks Servicing, we’re committed to quality, and we work hard... show more
CardWorks Reviews
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CardWorks Q&A(1 question)
Get answers to your questions about CardWorks below. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered.
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UpvotesWho regulates CardWorks?
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Sydney Garth
CardWorks, Inc., operates primarily through its subsidiaries: CardWorks Servicing, LLC (a non-bank servicer), Merrick Bank (an FDIC-insured industrial bank based in Utah), and Carson Smithfield, LLC (a collections agency). As such, its regulatory oversight varies by entity and function but falls under federal and state authorities focused on banking, consumer finance, and debt collection. Here's a breakdown:
- Merrick Bank: Is regulated by the Federal Deposit Insurance Corporation (FDIC) for safety, soundness, and consumer protection.
- CardWorks Servicing: Is not directly regulated like a bank, but it must comply with Consumer Financial Protection Bureau (CFPB) standards, especially when servicing loans for federally regulated institutions, and state-level licensing and compliance, depending on where it operates.
- Carson Smithfield: Is the collections arm, operates as a licensed third-party collection agency. It is subject to the Fair Debt Collection Practices Act (FDCPA) and must maintain state-specific collection licenses across the U.S.
As a financial services provider, CardWorks may also be subject to Federal Trade Commission (FTC) regulations governing marketing and consumer protection, and to SEC filing requirements, depending on its corporate structure and financial activities. For the most up-to-date information, visit CardWorks's website or contact customer service at (516) 576-0404.
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