News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Banking Sector Late Fees

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2024

The SEC has issued a controversial 886-page final rule imposing climate-related disclosure requirements on publicly traded companies, including banking organizations, which will require them to include certain climate-related...more

Sheppard Mullin Richter & Hampton LLP

The CFPB Finalizes Credit Card Late Fee Rulemaking

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

Latham & Watkins LLP

CFPB Set to Limit Credit Card Late Fees

Latham & Watkins LLP on

The move becomes effective on October 1, 2023, with the Supreme Court soon to decide on the agency’s rule-writing authority. On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule (the...more

Ballard Spahr LLP

Consumer Bankers Association Challenges CFPB Proposal to Lower Credit Card Late Fees

Ballard Spahr LLP on

On April 17, the Consumer Bankers Association (CBA) issued a news release responding to the CFPB’s proposal to lower the credit card late fee safe harbor amount to $8. The CFPB claims that, even though Congress banned...more

Troutman Pepper

State of the Union Address Highlights Governmental Focus on Elimination of So-Called “Junk Fees”

Troutman Pepper on

As we previously reported on the blog, the Consumer Financial Protection Bureau (CFPB) recently published a proposed rule that would dramatically cut the safe harbor for credit card late fees. In his State of the Union...more

Goodwin

Financial Services Weekly News Roundup - February 2023

Goodwin on

Federal Reserve Issues Policy Statement on Section 9(13) of the Federal Reserve Act - On January 27, the Federal Reserve issued a policy statement interpreting section 9(13) of the Federal Reserve Act, which authorizes...more

Stinson - Corporate & Securities Law Blog

CFPB Month in Review for August 2016

In case you missed it, here is what the Consumer Financial Protection Bureau (CFPB) was up to over the last month: Enforcement Actions and Litigation - Enforcement Action Against First National Bank of Omaha - ...more

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