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Final Rules Regulation Z Preliminary Injunctions

Latham & Watkins LLP

Texas Judge Halts CFPB Rule Limiting Credit Card Late Fees

Latham & Watkins LLP on

The preliminary injunction was granted pursuant to Fifth Circuit precedent that the CFPB’s independent funding structure is unconstitutional. On May 10, 2024, the US District Court for the Northern District of Texas...more

Ballard Spahr LLP

Operational impacts of the new CFPB Credit Card Late Fee Rule

Ballard Spahr LLP on

On March 5, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final credit card late fee rule (the “Final Rule”), which, amongst other things, significantly reduces the late fee safe harbor cap for issuers...more

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