The Consumer Financial Protection Bureau (CFPB or Bureau), under Director Chopra, is moving toward placing new restrictions on fees for the late payment of credit card debts. The proposed rulemaking represents a continuation...more
Financial institutions' longstanding practice of charging fees to consumers for the late payment of credit card debts is under scrutiny from the Consumer Financial Protection Bureau (CFPB) and its Director, Rohit Chopra....more
On September 29, 2021, the Consumer Financial Protection Bureau (CFPB) released its fifth biennial report (Report) evaluating the state of the consumer credit card market. In addition to addressing impacts to the credit card...more
Editors’ Note: The following is one part of DWT’s ongoing coverage of the 2017 CARD Act Report. Other parts include our prior PLA post The Consumer Credit Market: The CFPB’s 2017 CARD Act Report and a recent FSR webinar....more
The Consumer Financial Protection Bureau recently published its biennial assessment of the consumer credit card market, titled “The Consumer Credit Card Market.” This report is based in part on responses provided by market...more
The Board of Governors of the Federal Reserve System (Federal Reserve) recently exercised its authority to enforce laws prohibiting unfair or deceptive acts or practices committed by a financial institution under the Federal...more