According to Elizabeth Warren, who is in charge of putting together the new consumer watchdog assigned to regulate financial products, credit card offers should soon become more transparent and less vague. 

Warren had spoke before Congress on Wednesday, explaining the goals of the new Consumer Financial Protection Bureau to make credit card offers easier to comprehend.   

Warren expressed her goals of "shorter, clearer disclosures and agreements", but has yet to provide clear cut examples of the changes.  Though the terms will still be set by the lender, the way it is presented must be clear and open.  Information includes penalty terms, interest rates, and policy in regards to rate changes must be apparent and candid.   

Current regulations in regards to legal disclosures are written in obscure languages, in small type, and provides little in helping consumers, suggested Warren.  She feels a consumers ease in comparing different credit cards can result in a more competitive industry.  

Last year's financial overhaul legislation is responsible for the creation of the Consumer Financial Protection Bureau.  Although the agency does not officially being until late July, Warrant has already begun recruiting the necessary staff.  During which time the Republicans are looking to thin out the agency's power by suggesting a multimember commission as opposed to a single director.  Many GOP lawmakers are also looking to have the agency's budget controlled by congress so they may have greater controller over its finances.  Money for the Consumer Financial Protection Bureau currently comes from the Federal Reserve.