On February 1, the CFPB issued a proposed rule to cut the “safe harbor” amount that banks and credit card companies can charge for late fees. If finalized, the proposed rule would reduce the maximum safe harbor limit for...more
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