Regulation

April 17, 2025 by Stefanie Jackman in CFPB

CFPB Abandons Credit Card Late Fee Rule

The Consumer Financial Protection Bureau (CFPB or Bureau) agreed to vacate its controversial credit card late fee rule in a joint motion for entry of consent judgment filed in Chamber of Commerce of...

April 10, 2025 by Jonathan L. Pompan in Compliance

New York’s Consumer Protection Overhaul: A Lawsuit Magnet for Banks, Fintechs, and Other Financial Services Providers

The New York attorney general is backing a bill that could make financial services the next target for mass litigation—here’s what banks, fintechs, and loan servicers need to know. New...

March 5, 2025 by Ethan G. Ostroff in CFPB

Federal Activity Roundup February 4-18

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....

January 15, 2025 by Stefanie Jackman in CFPB

CFPB Releases Semiannual Regulatory Agenda Amid House Financial Services Committee Leaders’ Calls to Halt Rulemaking

In December, the Consumer Financial Protection Bureau (CFPB or Bureau) released its semiannual regulatory agenda, outlining its planned rulemaking initiatives. This agenda includes a mix of rules in the pre-rulemaking, proposed...

January 7, 2025 by Joann Needleman in CFPB

Navigating the New CFPB Overdraft Rule: Implications for Financial Institutions

The Consumer Financial Protection Bureau (CFPB) recently finalized its “Overdraft Lending: Very Large Financial Institutions Rule,” introducing sweeping changes to how overdraft credit is structured and regulated for the largest...

November 21, 2024 by Ronald K. Vaske in CFPB

Case in which CFPB came to financial institutions’ defense dismissed

An Illinois federal judge has dismissed a proposed class action lawsuit that alleged that two Midwestern banks failed to provide repayment disclosures to borrowers, in a case that was unique because the...

November 14, 2024 by Keith Barnett in CFPB

CFPB Proposes Amendments to Disclosure Requirements Under Remittance Transfer Rule

On September 20, the Consumer Financial Protection Bureau (CFPB or Bureau) announced a proposed rule aimed at amending the disclosure requirements for international money transfers, commonly known as remittances. The proposed amendment is aimed...

September 18, 2024 by Brooke Conkle in CFPB

CFPB Report Foreshadows Increased Scrutiny of Negative Equity in Auto Lending

In June, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on the state of negative equity in auto lending. The CFPB says it found that financing negative...

August 14, 2024 by Alan S. Kaplinksky in CFPB

Magistrate Judge stays further proceedings pending resolution of 10th Circuit appeal in Colorado litigation challenging Colorado opt-out statute

We previously reported that, on July 18, the Colorado Attorney General and UCCC Administrator appealed to the 10th Circuit Court of Appeals challenging Judge Domenico’s order dated June 18 D....

July 24, 2024 by Justin B. Hosie in CFPB

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

June was another big month for the CFPB with rules, proposals, lawsuits, and a Supreme Court case. In this month's article, we share some of our top "bites" of the...