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Consumer Financial Products › Truth in Lending Act (TILA) › Rulemaking Process

Manatt, Phelps & Phillips, LLP

Why The CFPB’s Earned Wage Access Rule Is Subject To Challenge

Manatt, Phelps & Phillips, LLP on

Earned wage access (“EWA”) programs are financial products that allow workers to receive payment for wages they have already earned before their next scheduled payday. Many of these programs are integrated into their...more

Sheppard Mullin Richter & Hampton LLP

The CFPB Finalizes Credit Card Late Fee Rulemaking

Sheppard Mullin Richter & Hampton LLP on

On March 6, the CFPB finalized its credit card late fee rule (previously discussed here) aimed at ensuring that late fees charged on consumer credit card accounts are “reasonable and proportional.” The rule amends Regulation...more

Cadwalader, Wickersham & Taft LLP

CFPB Again Seeks Demise of Overdraft or NSF Fees, Part 1

Cadwalader, Wickersham & Taft LLP on

In January 2024, the Consumer Financial Protection Bureau ("CFPB") issued two proposed rules that, if implemented as written, would result in further whittling down overdraft or non-sufficient funds ("NSF") fees charged by...more

Troutman Pepper

CFPB Continues War on Fees, Even Rare Ones

Troutman Pepper on

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule with request for public comment to prohibit covered financial institutions from charging nonsufficient funds fees (NSF) for payment...more

Troutman Pepper

CFPB Report Highlights Consumer Experiences with Overdraft and NSF Fees

Troutman Pepper on

On December 19th, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a report highlighting consumers’ experiences with overdraft and nonsufficient funds (NSF) fees. The report found that roughly a quarter of...more

Orrick, Herrington & Sutcliffe LLP

House Republicans question CFPB’s card late-fee proposal

Orrick, Herrington & Sutcliffe LLP on

On March 1, several Republican House Financial Services Committee members sent a letter to CFPB Director Rohit Chopra expressing concerns over the Bureau’s credit card late fee proposal. ...more

Sheppard Mullin Richter & Hampton LLP

Latest CFPB Rule Proposal Takes Aim at Credit Card Late Fees

Sheppard Mullin Richter & Hampton LLP on

On February 1, the CFPB announced a newly proposed rule aimed at ensuring that late fees charged on consumer credit card accounts are “reasonable and proportional” to late payments. If finalized, the proposed rule would amend...more

Hudson Cook, LLP

CFPB Bites of the Month - July Top 10

Hudson Cook, LLP on

So what happened at the CFPB in the past month? Bite #10 - The CFPB released its Spring 2021 rulemaking Agenda. The CFPB published its Spring 2021 rulemaking Agenda, which outlines the current plans for the CFPB...more

Ballard Spahr LLP

You Can Still Comment on the TRID Rule Assessment

Ballard Spahr LLP on

As we previously reported, the CFPB is conducting an assessment of the TILA/RESPA Integrated Disclosure (TRID) Rule. Although the comment period associated with the Federal Register notice regarding the assessment ended on...more

Ballard Spahr LLP

New Federal Student Loan Interest Rates for 2019-2020 Announced

Ballard Spahr LLP on

The Department of Education has announced the new federal student loan interest rates for 2019-2020.  For the first time in three years, interest rates on federal student loans will decrease.  Rates for Direct Subsidized and...more

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