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Late Fees Final Rules Fee Caps

McGlinchey Stafford

The CFPB’s Credit Card Late Fee Rule Appears Doomed

McGlinchey Stafford on

On December 6, 2024, the United States District Court for the Northern District of Texas denied a motion by the Consumer Financial Protection Bureau (CFPB) to dissolve a preliminary injunction that had enjoined its Credit...more

Goodwin

Chamber of Commerce Sues CFPB To Eliminate or Enjoin $8 Late Fee Cap

Goodwin on

Last week, the U.S. Chamber of Commerce (Chamber) joined five other trade associations to sue the Consumer Financial Protection Bureau (CFPB) and its director Rohit Chopra in Texas Federal District Court, seeking a court...more

McGlinchey Stafford

“Junk Fee” Revolution Continues: CFPB Issues Final Rule Limiting Late Fees on Credit Cards

McGlinchey Stafford on

Tuesday, the Consumer Financial Protection Bureau (CFPB) issued a Final Rule capping most credit card late fees at $8. The CFPB believes its new rule may save consumers more than $10 billion a year in late fee charges for an...more

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