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Fees Consumer Financial Protection Bureau (CFPB) State Attorneys General

Cozen O'Connor

The State AG Report – 8.29.2024

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Missouri AG Investigates Hack of National Public Data - ...more

Cozen O'Connor

CFPB Report Examines Cash-Back Fees

Cozen O'Connor on

The CFPB issued a report detailing certain retailers’ practice of charging consumers cash-back fees to access their own money when using a debit or prepaid card. The report’s key findings include that cash-back fees are...more

Hudson Cook, LLP

Technical Violations of State Collection Practices Laws Can Lead to Class Action Liability

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If you are reading this article, you are likely aware that a creditor collecting its own debts in its own name is not a "debt collector" under the federal Fair Debt Collection Practices Act ("FDCPA") or its implementing rule,...more

Cozen O'Connor

CFPB Launches Inquiry into Fees Imposed as Part of Mortgage Transactions

Cozen O'Connor on

The CFPB has launched an inquiry into so-called “junk fees” charged by mortgage providers and related settlement services, to better understand why closing costs continue to rise and the impact of such fees on borrowers and...more

Goodwin

California Attorney General Warns California-Chartered Banks and Credit Unions On Surprise Overdraft Fees and Returned Deposited...

Goodwin on

On February 20, 2024, California Attorney General Rob Bonta issued a letter warning California-chartered banks and credit unions with assets under $10 billion that charging surprise overdraft fees and returned deposited item...more

Hogan Lovells

The Biden Administration and State Attorneys General continue to take aim at eliminating “junk fees”

Hogan Lovells on

In his recent State of the Union address, President Biden echoed his administration's commitment to tackling "junk and hidden fees," defined as charges to consumers providing little to no value and preventing clear...more

Shipkevich PLLC

CFPB and State AGs Prosecute Debt Relief Companies and Law Firms

Shipkevich PLLC on

In recent weeks, we have seen an increase in prosecution by the Consumer Financial Protection Bureau (“CFPB”) and state attorneys general against debt relief companies and law firms. Additionally, the focus on these debt...more

Cozen O'Connor

CFPB Shines a Spotlight on Junk Fees in Bank Deposits, Lending Markets

Cozen O'Connor on

The CFPB issued a special edition of its Supervisory Highlights focusing on illegal, unnecessary charges by banks and other financial companies sometimes referred to as “junk fees.”...more

Sheppard Mullin Richter & Hampton LLP

Colorado AG Secures Latest Settlement over Unearned GAP Fees

On January 4, the Colorado Attorney General announced that his office entered into assurances of discontinuance (available...) with two credit unions that will result in $4 million being refunded to Colorado borrowers who...more

Venable LLP

Is Your New Year’s Resolution to Comply with Automatic Renewal Laws? If So, Look No Further

Venable LLP on

The law surrounding negative option and continuity programs continues to evolve rapidly. Feeling a bit overwhelmed with the latest developments? Below is what you need to know in light of new laws, new enforcement actions,...more

Cozen O'Connor

AG Coalition Calls for an End to Mortgage Convenience Fees

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Illinois AG Kwame Raoul led a coalition of 23 state AGs in calling upon the CFPB to prohibit mortgage servicers from imposing convenience fees on consumers, in response to the CFPB’s recent Request for Information Regarding...more

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