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Fees Hidden Fees Consumer Financial Protection Bureau (CFPB)

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

Goodwin

CFPB Report Spotlights Consumer Risks with Private, Solar-Specific Loans

Goodwin on

​​​​​​​On August 7, 2024, the Consumer Financial Protection Bureau (CFPB) issued a report spotlighting four marketing and financing practices relating to solar financing that it claims pose significant consumer risks (the...more

Orrick, Herrington & Sutcliffe LLP

White House targets “junk fees” in higher education with several new initiatives

On March 15, the White House issued a fact sheet on proposed measures aimed at curbing or eliminating alleged “junk fees” in higher education, citing that it found college students incurred “billions in fees” when having to...more

Hogan Lovells

The Biden Administration and State Attorneys General continue to take aim at eliminating “junk fees”

Hogan Lovells on

In his recent State of the Union address, President Biden echoed his administration's commitment to tackling "junk and hidden fees," defined as charges to consumers providing little to no value and preventing clear...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

Latham & Watkins LLP

US and States Target Deceptive “Junk Fees” and “Drip Pricing”

Latham & Watkins LLP on

On October 11, 2023, the FTC issued a Notice of Proposed Rulemaking and Request for Public Comment titled “Trade Regulation Rule on Unfair or Deceptive Fees” (the Proposed Rule). The FTC said the Proposed Rule “would prohibit...more

ArentFox Schiff

FTC Proposes Rule to Ban Hidden and Falsely Advertised Fees

ArentFox Schiff on

The Federal Trade Commission (FTC) has proposed a new rule aimed at eliminating certain "hidden" and "junk" fee practices. The FTC said that these fees, which may be undisclosed until late in the transaction process, are...more

Pillsbury Winthrop Shaw Pittman LLP

Biden Administration Continues Campaign to Crack Down on Junk Fees

Recent actions by the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB), with support from the Biden administration, signal that protecting consumers from so-called “junk fees” remains a key...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

Katten Muchin Rosenman LLP

Junk or a Value-Added Service? Federal Regulators and the Biden Administration Go After "Junk" Fees

On Wednesday, October 11, the White House — joined by the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB or Bureau) — announced new measures aimed at a variety of so-called “junk fees” charged...more

Morrison & Foerster LLP

Agencies Take Action on "Junk Fees"

Morrison & Foerster LLP on

On October 11, 2023, the Federal Trade Commission (FTC) issued a proposed rule to prohibit so-called junk fees, and the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to large banks and credit unions...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 17, 2023)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

McGuireWoods LLP

The FTC and CFPB Announce New Rules to Tackle Junk Fees

McGuireWoods LLP on

On October 11, 2023, President Biden, Federal Trade Commission (FTC) Chair Lina Khan, and Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced the latest developments in the government’s efforts to...more

Hinch Newman LLP

FTC Proposes Rule to Prohibit Hidden and Falsely Advertised Fees

Hinch Newman LLP on

On October 11, 2023, the Federal Trade Commission announced a new proposed rule to prohibit “junk fees,” which the FTC states are hidden and bogus fees that can harm consumers and undercut honest businesses. FTC...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

Ballard Spahr LLP

Biden Administration Continues Efforts to Crackdown on “Junk Fees”

Ballard Spahr LLP on

During his remarks in a meeting with private sector companies on June 15, 2023, President Biden described junk fees as “these hidden charges that companies sneak into your bill to make you pay more and without you really...more

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