The Consumer Financial Protection Bureau (CFPB) has intensified its scrutiny of credit card rewards programs, addressing concerns over illegal tactics such as bait-and-switch schemes and the devaluation of rewards. In recent announcements, the CFPB has warned credit card issuers against practices that could potentially harm consumers, including cutting back on reward points and miles. A significant increase in consumer complaints about card rewards has prompted the agency to launch a new tool aimed at helping users save money and avoid scams. The watchdog is also alerting law enforcement about illegal activities related to credit card rewards. Notably, the CFPB has highlighted actions taken against major financial institutions like American Express and Bank of America for their roles in these deceptive practices.