News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Convenience Fees

Alston & Bird

CFPB and FTC Amicus Brief Signals Stance on “Pay-to-Pay” Fees under FDCPA

Alston & Bird on

What Happened? On February 27, the Consumer Finance Protection Bureau (CFPB) and the Federal Trade Commission (FTC) filed an amicus brief in the 11th Circuit case Glover and Booze v. Ocwen Loan Servicing, LLC arguing that...more

Troutman Pepper

Keeping Up With the Bureau Episode 4: Hot Topics in Collections: Fees, Reg F Landscape, and What’s Next - The Consumer Finance...

Troutman Pepper on

Please join Consumer Financial Services Partner Stefanie Jackman and her guests and colleagues James Trefil and Jonathan Floyd in the fourth and final episode of a special four-part series on recent developments at the...more

Hudson Cook, LLP

CFPB, State Regulators, and Courts Take Aim at Convenience Fees

Hudson Cook, LLP on

The first half of 2022 has seen a flurry of state and federal activity attempting to reign in "convenience fees"—fees charged by a creditor, debt collector, or third party to a consumer for making a payment via some means...more

BCLP

CFPB guidance on pay-to-pay fees impacts consumer loan agreements

BCLP on

Consumer debt collectors may not be permitted to charge consumers “convenience fees” for card payments, which the Consumer Financial Protection Board (the “CFPB”) calls “pay-to-pay” fees, unless the underlying loan agreement...more

Hudson Cook, LLP

CFPB, State Regulators, and Courts Take Aim at Convenience Fees

Hudson Cook, LLP on

The first half of 2022 has seen a flurry of activity at the state and federal level attempting to reign in "convenience fees" - fees charged by a creditor, debt collector, or third party to a consumer for making a payment via...more

Locke Lord LLP

CFPB Issues Advisory Opinion ‎Regarding Convenience Fees

Locke Lord LLP on

On June 29, 2022, the Consumer Financial Protection Bureau (“CFPB”) issued an advisory opinion stating its view that the Fair Debt Collection Practices Act (“FDCPA”) prohibits debt collectors from collecting any amount,...more

Troutman Pepper

Convenience Fees: Why You Need to Pay Attention? - The Crypto Exchange Podcast

Troutman Pepper on

In the first episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Ethan Ostroff welcomes his colleagues Keith Barnett and Carlin McCrory to discuss recent developments with convenience fees in...more

Sheppard Mullin Richter & Hampton LLP

CFPB Advisory Opinion: Pay-to-Pay, “Convenience” Fees Prohibited by FDCPA

On June 29, the CFPB issued an advisory opinion affirming that the Fair Debt Collection Practices Act (FDCPA) and Regulation F prohibit debt collectors from collecting pay-to-pay or “convenience fees” imposed for making a...more

Troutman Pepper

Recent CFPB Advisory Opinion Puts Pay-to-Pay Fees in Crosshairs

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“Convenience” fees charged to consumers for the use of certain debt payment options have come under increased scrutiny, as regulators have sought to limit charges and other back-end fees that may come as a surprise to...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 12, 2022)

Wiley Rein LLP on

Regulatory Announcements- CFPB Issues Advisory Opinion on FCRA Permissible Purposes for Providing Consumer Reports. On July 7, the CFPB issued an Advisory Opinion on the Fair Credit Reporting Act (FCRA) that outlines...more

Cozen O'Connor

CFPB Advisory Opinion Bans Debt Collectors from Charging Unauthorized Convenience Fees

Cozen O'Connor on

The CFPB issued an Advisory Opinion affirming the agency’s position that federal law generally prohibits debt collectors from charging “convenience fees” on consumers making payments, and providing guidance to the fees that...more

Venable LLP

CFPB Warns Debt Collectors of Illegal Pay-to-Pay Fees

Venable LLP on

The Consumer Finance Protection Bureau ("CFPB") issued an advisory opinion warning debt collectors that they may be collecting illegal fees from consumer-borrowers. Specifically, the Bureau has interpreted Section 808(1) of...more

Bradley Arant Boult Cummings LLP

CFPB Issues Advisory Opinion Clarifying Its Views on When Debt Collectors Can Charge Consumers “Convenience Fees”

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on June 29, 2022, clarifying its view as to the legality under the Fair Debt Collection Practices Act (FDCPA) of “convenience fees” for optional...more

Ballard Spahr LLP

CFPB issues advisory opinion on permissibility of “convenience fees” charged by debt collectors subject to the FDCPA

Ballard Spahr LLP on

The CFPB has issued an advisory opinion that addresses when the Fair Debt Collection Practices Act permits a debt collector to charge “pay-to-pay” or “convenience fees,” such as fees imposed for making a payment online or by...more

Troutman Pepper

CFPB Targets Convenience Fees in Latest Advisory Opinion

Troutman Pepper on

On June 29, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion focused on consumer debt collectors and the convenience fees they charge for some payments, such as online or by phone....more

Seyfarth Shaw LLP

CFPB Concludes Most Convenience Fees Charged by Debt Collectors Violate the FDCPA

Seyfarth Shaw LLP on

Following its recent “initiative” and request for information to reduce “exploitative junk fees,” the Consumer Financial Protection Bureau (“CFPB”) has on June 29, 2022 released an advisory opinion. The opinion concludes that...more

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