Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast
Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
CFPB’s Increasingly Active Interest in Credit Reporting - FCRA Focus Podcast
On September 18, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a set of frequently asked questions (FAQs) providing guidance on applying Regulation Z requirements to Pay-in-Four Buy Now, Pay Later (BNPL)...more
The FTC settled with Legion Media, LLC, KP Commerce, LLC, and Sloan Health Products, LLC and related individuals and entities to resolve allegations over unauthorized billing schemes for sales of CBD and keto products in...more
The CFPB earlier this month filed suit against Horizon Card Services and its CEO and sole shareholder Robert Kane for allegedly tricking subprime consumers into signing up for a high-fee credit card that only allowed them to...more
On September 13, 2024, the CFPB filed a lawsuit against the company and its owner and CEO, alleging deceptive and abusive acts and practices in violation of the CFPA and violations of TILA and its implementing regulation....more
On August 22, the CFPB filed a reply brief in support of its motion urging the U.S. District Court for the Northern District of Texas to dissolve the preliminary injunction and lift the stay on the CFPB’s late fee rule. ...more
On September 13, the CFPB filed a complaint against a nonbank corporation and its CEO, alleging that the company engaged in deceptive and abusive acts through misleading advertising and unjustified, exorbitant fees related to...more
On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more
A critical deadline of March 31, 2025 is upcoming for the full implementation of the new requirements contained in the Payment Card Industry Data Security Standard (PCI DSS) version 4.0....more
The most frequent consumer debt collection complaints filed with the CFPB in 2023 were attempts to collect debts that actually were not owed, the bureau said in its annual Fair Debt Collection Practices Act report....more
On August 15, a coalition of community, civil rights, consumer, and advocacy organizations released a letter urging both presidential candidates to support the CFPB’s ongoing efforts to combat “junk fees.” In a letter...more
The plaintiffs’ bar has added a new tool to its arsenal to target cookies, pixels, and similar online tracking tools and the businesses that use them: the California Song-Beverly Credit Card Act of 1971 (“Act”). This...more
The United States District Court for the District of New Jersey reiterated the importance of standing and reviewed its application to the Fair Debt Collection Practices Act in the matter of George v. Rushmore Serv. Ctr., LLC,...more
On August 19, the CFPB filed a reply brief in support of its efforts to transfer litigation involving credit card late fees from the U.S. District Court for the Northern District of Texas (located in Fort Worth) to the U.S....more
On August 15, several banking and credit union associations sued the Illinois Attorney General to prevent the state from implementing the Illinois Interchange Fee Prohibition Act (the “Act”). As covered by InfoBytes, the...more
On August 22, 2024, the CFPB filed its reply brief in support of its motion to dissolve the preliminary injunction and lift the stay of the CFPB’s credit card late fee final rule (“Rule”) in the lawsuit challenging the Rule....more
UPDATE: In the massive antitrust class action against Visa, Mastercard and more than 25 banks, the deadline has been extended to February 4, 2025 for victims of overpaid credit or debit card transaction fees to file a claim...more
On August 15, 2024, the Illinois Bankers Association, American Bankers Association, America’s Credit Unions, and Illinois Credit Union League filed a complaint for declaratory and injunctive relief against the Illinois...more
On August 6, the CFPB published a blog post regarding a rise in credit card delinquencies since the Covid-19 pandemic. The Bureau reported an increase in credit scores and a decrease in credit card delinquencies during the...more
Over the past few months, a wave of new lawsuits has been filed in California state court against online retailers alleging violations of California’s Song-Beverly Credit Card Act, Cal. Civ. Code § 1747.08 (“Song-Beverly”)....more
On August 12, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dismiss Plaintiff Fort Worth Chamber of Commerce (Fort Worth Chamber) for lack of standing and if granted, transfer the case to the...more
On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more
On August 2, a proposed class of former and current servicemembers filed a memorandum in the U.S. District Court for the Eastern District of North Carolina proposing an unopposed settlement agreement between the class and the...more
On July 29, the CFPB submitted a brief to move its credit card late fee case from the U.S. District Court for the Northern District of Texas (located in Fort Worth) to the U.S. District Court for the District of Columbia...more
When federal agencies review bank mergers, the competition issues typically relate to the number and location of physical branches and the extent of any overlap in the areas served. By contrast, the proposed $35 billion...more
In the latest iteration of privacy claims, California plaintiffs have begun filing lawsuits against online retailers using online tracking technologies to collect IP addresses under a new theory—plaintiffs allege such...more