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Excessive Fees Financial Services Industry Hidden Fees

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Troutman Pepper

Class Action Alleging Usurious Fees and Tips Filed Against FinTech Provider of Earned Wage Access Services

Troutman Pepper on

A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips...more

Holland & Knight LLP

The FTC and Connecticut Join Forces for Action Against Nissan Dealer

Holland & Knight LLP on

In this episode of his "Clearly Conspicuous" podcast series, "The FTC and Connecticut Join Forces for Action Against Nissan Dealer," consumer protection attorney Anthony DiResta discusses a recent action taken by the Federal...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The Biden Admin “Junk Fees” Initiative Continues: What the Latest Actions Mean for the...

Ballard Spahr LLP on

This two-part podcast repurposes our most recent webinar on the latest salvo of actions in the Biden Administration’s initiative directed at combatting so-called “junk fees.” Launched in January 2022, the initiative shows no...more

McGlinchey Stafford

Junk Fee Supervisory and Enforcement Activity Targets Auto Servicers

McGlinchey Stafford on

For almost two years, the Consumer Financial Protection Bureau (CFPB) has made combating so-called junk fees an agency priority, bringing multiple enforcement actions, undertaking supervisory activity, and collaborating with...more

BakerHostetler

What You Gonna Do With All That Junk (Fees)?

BakerHostetler on

In his State of the Union address this February, President Joe Biden promised to crack down on junk fees. The Federal Trade Commission (FTC) made good on that promise in short order on Oct. 11, announcing a proposed rule to...more

Venable LLP

A Fall of Fees: CFPB and FTC Announce New Efforts to Fight Alleged “Junk Fees”

Venable LLP on

Large banks and credit unions must provide certain information to customers free of charge, such as account balances, transaction history, and fees, according to an advisory opinion issued by the Consumer Financial Protection...more

McGlinchey Stafford

The Fuss About Junk Fees, Pt. 3: Defending Junk Fees Litigation and Regulatory Oversight

McGlinchey Stafford on

In this three-part series, we first reviewed the Biden Administration’s collaborative efforts with the CFPB and the FTC to regulate “junk fees.” We highlighted recent regulatory, enforcement, and private actions and trends in...more

McGlinchey Stafford

The Fuss About Junk Fees, Pt. 1: Biden, CFPB, and FTC Collaborate

McGlinchey Stafford on

Anyone who has financed the purchase of a good or service, had a bank account, bought a car, or purchased sporting event tickets has almost assuredly encountered what the Biden Administration and various regulatory agencies...more

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