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Advisory Opinions › Attorney's Fees

Bradley Arant Boult Cummings LLP

CFPB Issues Advisory Opinion Restricting Fees Charged for Consumer’s Requests for Account Information

Bradley Arant Boult Cummings LLP on

In October 2023, the CFPB issued an advisory opinion titled, “Consumer Information Requests to Large Banks and Credit Unions.” The upshot of the advisory opinion is that covered financial institutions responding to consumer...more

McGlinchey Stafford

No More Cap on Holder’s Liability: A New FTC Perspective on the Holder Rule

McGlinchey Stafford on

On January 18, 2022, the Federal Trade Commission (FTC) issued an advisory opinion (the FTC Opinion) to clarify that the FTC’s Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses (the Holder Rule),...more

Sheppard Mullin Richter & Hampton LLP

FTC Says the Holder Rule Does Not Prevent State Law From Requiring Payment of Costs or Attorneys’ Fees Against Loan Holders

Sheppard Mullin Richter & Hampton LLP on

On January 20, the FTC issued an advisory opinion clarifying that the Holder Rule does not prevent state law from providing costs or attorneys’ fees against loan holders, contrary to the conclusions drawn by some courts. The...more

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