Large banks and credit unions must provide certain information to customers free of charge, such as account balances, transaction history, and fees, according to an advisory opinion issued by the Consumer Financial Protection...more
10/17/2023
/ Advisory Opinions ,
Banks ,
Biden Administration ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Excessive Fees ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Services Industry ,
Hidden Fees ,
Supervisory Highlights
Colorado has passed a law that amends the Colorado Uniform Consumer Credit Code (UCCC) to extend state interest rate limits on certain consumer loans made by out-of-state state-chartered banks, which caps rates at a maximum...more
6/30/2023
/ Banks ,
Consumer Financial Products ,
Consumer Lenders ,
Financial Services Industry ,
Interest Rates ,
Loans ,
National Bank Act ,
New Legislation ,
Opt-Outs ,
Preemption ,
Standard Chartered Bank ,
State Charters
On June 16, 2023, the Federal Deposit Insurance Corporation (FDIC) released an update to its Supervisory Guidance on Multiple Re-Presentment NSF Fees (FIL-40-2022) (the "Guidance"), to provide additional guidance for...more
A recent action by the Office of the Comptroller of the Currency (OCC) highlights how banks need to ensure that they have robust compliance programs for managing risks posed by their banking as a service (BaaS)...more
Through a new interpretive rule announced this week, the Consumer Financial Protection Bureau (CFPB) has declared that digital marketing providers can be held liable under the Consumer Financial Protection Act (CFPA)...more
8/15/2022
/ Advertising ,
Banks ,
Behavioral Advertising ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Internet Marketing ,
Marketing ,
Nonbank Firms ,
UDAAP ,
Unfair or Deceptive Trade Practices