In early March, nearly a year and a half after it was initially proposed, the Massachusetts Attorney General's Office finalized the Commonwealth's "junk fee" regulation (the "Final Rule") while simultaneously issuing a...more
4/1/2025
/ Advertising ,
Banking Sector ,
Banks ,
Deposit Accounts ,
Disclosure Requirements ,
Fees ,
Final Rules ,
New Guidance ,
Regulation DD ,
State Attorneys General ,
Truth in Savings Act ,
Unfair or Deceptive Trade Practices
Over the past year, there have been numerous efforts by federal regulators - in particular the Consumer Financial Protection Bureau - to rein in "junk fees." The CFPB defines a "junk fee" to be an unnecessary and unavoidable...more
11/3/2023
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deposit Accounts ,
Excessive Fees ,
Fees ,
New Legislation ,
NYDFS ,
Overdraft Fees ,
Regulatory Oversight ,
User Fees
The May 2019 issue of Insights included discussion of a growing trend to regulate student loan servicers. Currently, there are a handful of states that impose requirements specifically on such parties. However, the ranks of...more