News & Analysis as of

Excessive Fees Enforcement Actions Consumer Financial Protection Act (CFPA)

Goodwin

2023 Year in Review: Credit, Debit, or Prepaid Cards and Consumer Banking

Goodwin on

Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We expect continued focus by the CFPB on “junk”...more

Hudson Cook, LLP

CFPB Orders National Bank to Pay $3.7 Billion

Hudson Cook, LLP on

On December 20, 2022, the CFPB filed an administrative consent order against a National Bank headquartered in Sioux Falls, South Dakota. In the order, the CFPB detailed three ways that the Bank allegedly violated the Consumer...more

Holland & Knight LLP

Banks Should Prepare for CFPB Inquiries in Regards to Overdraft Practices and Fees

Holland & Knight LLP on

In September 2022, the Consumer Financial Protection Bureau (CFPB) entered into a consent order against a large national bank for charging unfair and abusive overdraft fees. In support of its action, the Bureau noted that...more

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