Barbara S. Mishkin

Barbara S. Mishkin

Ballard Spahr LLP

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CFPB sues company for alleged credit card sham

A new lawsuit filed by the CFPB alleges that a Texas-based company, Union Workers Credit Services, deceived consumers into paying fees to sign up for a “platinum card” that purported to be a general-use credit card but, in...more

12/18/2014 - CFPB Credit Cards Enforcement Actions FCRA Regulation V

CFPB sues company for alleged credit card sham

A new lawsuit filed by the CFPB alleges that a Texas-based company, Union Workers Credit Services, deceived consumers into paying fees to sign up for a “platinum card” that purported to be a general-use credit card but, in...more

12/18/2014 - CFPB Credit Cards Enforcement Actions FCRA Regulation V Unfair or Deceptive Trade Practices

CFPB announces pilot to promote consumer savings

As part of its Project Catalyst, the CFPB’s initiative for facilitating innovation in consumer-friendly financial products and services, the CFPB has announced a new research pilot using insights from behavioral economics and...more

12/17/2014 - American Express CFPB Consumer Financial Products Credit Cards Financial Products Prepaid Payment Products Project Catalyst Savings Plans

CFPB announces new Project Catalyst project

The CFPB has announced a new project as part of its Project Catalyst initiative, which the CFPB describes as ”designed to encourage consumer-friendly developments in markets for consumer financial products and services.” The...more

9/30/2014 - CFPB Credit Cards Credit Counseling Debt Project Catalyst

Rep. Maloney urges CFPB to limit overdraft fees and expand opt-in rules

Democratic Congresswoman Carolyn Maloney of New York sent a letter to Director Cordray yesterday urging the CFPB to limit overdraft fees and expand opt-in requirements as part of a proposed overdraft rule. In calling...more

9/12/2014 - ACH Payments Banking Sector Banks CFPB Credit Cards Debit Cards Legislative Agendas Opt-In Overdraft Fees

CFPB testing prepaid card disclosures

Yesterday, the CFPB unveiled two model forms of prepaid card packaging disclosures that it is testing with consumers in Los Angeles. According to its blog post, the CFPB is developing the disclosures in connection with a...more

3/19/2014 - CFPB Credit Cards Disclosure Requirements Prepaid Payment Products

Director Cordray gives prepaid card advice to state regulators

Director Cordray’s speech yesterday to the National Association of State Treasurers consisted primarily of his standard remarks about the CFPB’s handling of consumer complaints, financial education initiatives, and mortgage...more

3/19/2014 - CFPB Credit Cards Prepaid Payment Products Richard Cordray

U.S. Chamber of Commerce challenges CFPB’s data collection

The CFPB’s data collection efforts are drawing fire from the U. S. Chamber of Commerce. Those efforts became a focus of attention as a result of an April 2013 report by Carter Dougherty of Bloomberg which revealed that the...more

6/21/2013 - Banks CFPB Chamber of Commerce Credit Cards Data Collection Dodd-Frank Payday Loans

CFPB eliminates independent ability-to-pay requirement for credit card applicants 21 or older

The CFPB has amended Regulation Z to remove the requirement that a card issuer must consider the independent ability to pay of an applicant who is 21 or older. The final rule, which will be effective upon publication in the...more

5/2/2013 - CFPB Compliance Credit Cards Final Rules Regulation Z

CFPB issues final rule excluding credit card pre-account opening fees from 25% limit

The CFPB has published a final rule in today’s Federal Register amending Regulation Z (Truth in Lending) to remove fees paid before a credit card account is opened from the scope of the 25% limit on total fees that may be...more

3/28/2013 - CFPB Credit Card Act Credit Cards Fees Regulation TILA

CFPB wants information about the CARD Act’s impact

The CFPB is seeking information on how the CARD Act amendments to the Truth in Lending Act have impacted consumers and the credit card industry....more

12/21/2012 - CARD Act CFPB Credit Cards TILA

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