On October 25, for the sixth time since its inception, the Consumer Financial Protection Bureau ("CFPB" or "Bureau") released its biennial report ("Report") evaluating the state of the consumer credit card market. The Credit...more
11/6/2023
/ CARD Act ,
Consumer Financial Protection Bureau (CFPB) ,
Debit and Credit Card Transactions ,
Debt Collection ,
Enforcement ,
Fair Credit Reporting Act (FCRA) ,
Installment Agreements ,
Interest Rates ,
Late Fees ,
Open Banking ,
Repayment Options ,
Truth in Lending Act (TILA)
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