The rule targets a statutory loophole that the CFPB asserts large credit card issuers exploited to exact excessive late fees from consumers.
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a...more
As person-to-person payments become mainstream, the proposal would proactively outlaw fees that financial institutions could assess on instantaneously declined transactions.
On January 24, 2024, the Consumer Financial...more
The move becomes effective on October 1, 2023, with the Supreme Court soon to decide on the agency’s rule-writing authority.
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule (the...more