News & Analysis as of

Proposed Rules Credit Cards Regulation Z

Goodwin

The CFPB’s “Junk Fees” Initiative: Recent Developments and Trends

Goodwin on

The term “junk fee” is not defined under federal law, but the CFPB has focused on factors such as whether the fee would be unexpected to or take advantage of a reasonable consumer, the amount of the fee compared to the cost...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

Ballard Spahr LLP

The Once and Future Rule: How the CFPB’s Credit Card Late Fee Rule Compares to Regulation Z and the Previously Proposed 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”). The timing for publication of the final rule was widely perceived as coordinated with the...more

Ballard Spahr LLP

Financial trade groups remind CFPB of the SBREFA requirements for the imminent overdraft and NSF fee rulemaking

Ballard Spahr LLP on

On January 3, 2023, American Bankers Association, America’s Credit Unions, and Independent Community Bankers of America wrote a letter to CFPB Director Rohit Chopra to address their concerns that the CFPB’s proposal for...more

Ballard Spahr LLP

CFPB annual CARD Act, HOEPA, QM adjustments do not include credit card penalty fees safe harbors (UPDATED)

Ballard Spahr LLP on

The CFPB recently posted on its website a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified...more

Bilzin Sumberg

Financial Institutions Voice Strong Opposition to CFPB’s Credit Card Late Fee Proposal

Bilzin Sumberg on

In February, the Consumer Financial Protection Bureau (CFPB) proposed amending the Federal Reserve Board’s Regulation Z with respect to the amount of fees that credit card issuers are permitted to charge their customers for...more

Troutman Pepper

Credit Card Late Fee Rule Published in Federal Register and Open for Comments

Troutman Pepper on

As discussed here, on February 1, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would amend Regulation Z to: 1) decrease the safe harbor for credit card late fees to $8 and eliminate altogether a higher...more

Ballard Spahr LLP

CFPB credit card late fees proposal published in Federal Register

Ballard Spahr LLP on

Nearly two months after it was issued on February 1, the CFPB’s proposal to make significant changes to the Regulation Z rules for credit card late fees was published in today’s Federal Register. The changes include a...more

Nutter McClennen & Fish LLP

Nutter Bank Report: February 2023

Federal Guidance Warns of Liquidity Risks Arising from Crypto-Asset-Related Deposits - The federal banking agencies have issued joint guidance to banking organizations highlighting potentially heightened liquidity risks...more

Goodwin

CFPB Proposes Rule To Amend Regulation Z Credit Card Late Fees

Goodwin on

On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend Regulation Z, the implementing regulation of the Truth in Lending Act (TILA), to “better...more

Husch Blackwell LLP

A Significant Reduction in Credit Card Late Fees Could Be on the Horizon

Husch Blackwell LLP on

On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would dramatically decrease the late payment fee amount that card issuers could charge on credit cards and qualify for a safe harbor...more

Sheppard Mullin Richter & Hampton LLP

Latest CFPB Rule Proposal Takes Aim at Credit Card Late Fees

On February 1, the CFPB announced a newly proposed rule aimed at ensuring that late fees charged on consumer credit card accounts are “reasonable and proportional” to late payments. If finalized, the proposed rule would amend...more

Cooley LLP

CFPB Issues Notice of Proposed Rulemaking on Credit Card Late Fees

Cooley LLP on

On February 1, 2023, the Consumer Financial Protection Bureau announced a notice of proposed rulemaking to amend the provisions in Regulation Z governing credit card late fee charges permitted under Regulation Z, which...more

Troutman Pepper

CFPB Proposes to Dramatically Cut Safe Harbor for Credit Card Late Fees

Troutman Pepper on

Today the Consumer Financial Protection Bureau (CFPB) published a proposed rule with request for public comment that would amend Regulation Z to: 1) decrease the safe harbor for credit card late fees to $8 and eliminate...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 13, 2021)

Wiley Rein LLP on

Thank you for your interest in the Wiley Consumer Protection Download! This will be our last publication of 2021, with our bi-weekly newsletter returning in January 2022. Welcome to Wiley’s update on recent developments...more

15 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide