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CFPB Finalizes Rule Significantly Restricting Credit Card Late Fees—Litigation Immediately Follows

On March 5, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge from $30 or $41, in most cases, to a mere...more

Magistrate Judge Recommends Dismissal in Chase Issuance Trust Usury Lawsuit

A United States Magistrate Judge for the United States District Court, Western District of New York, yesterday issued his report and recommendation on the defendants’ motion to dismiss in Petersen et al. v. Chase Card...more

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