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3 weeks ago | 
openlegalblogarchive.org | Stefanie Jackman |Lori J. Sommerfield |Glen P. Trudel |Chris Willis
On May 9, the U.S. Senate Committee on Banking, Housing, and Urban Affairs announced that President Trump signed into law Chairman Tim Scott’s (R-SC) Congressional Review Act (CRA) resolution, effectively overturning the Biden-era Consumer Financial Protection Bureau (CFPB) rule on overdraft fees.
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3 weeks ago | 
jdsupra.com | Stefanie Jackman |Lori J. Sommerfield |Glen P. Trudel
On May 9, the U.S. Senate Committee on Banking, Housing, and Urban Affairs announced that President Trump signed into law Chairman Tim Scott’s (R-SC) Congressional Review Act (CRA) resolution, effectively overturning the Biden-era Consumer Financial Protection Bureau (CFPB) rule on overdraft fees.
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2 months ago | 
jdsupra.com | Stefanie Jackman |Joshua McBeain |Glen P. Trudel
In a significant development in the credit card late fee rule litigation, the Consumer Financial Protection Bureau (CFPB) has filed a status report indicating that it is actively working towards a resolution. This update follows last month’s court’s order, which required the CFPB to explain its plans for proceeding with the case.
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2 months ago | 
lexology.com | Stefanie Jackman |Glen P. Trudel |Chris Willis |Joshua McBeain
In a significant development in the credit card late fee rule litigation, the Consumer Financial Protection Bureau (CFPB) has filed a status report indicating that it is actively working towards a resolution. This update follows last month’s court’s order, which required the CFPB to explain its plans for proceeding with the case.
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Dec 12, 2024 | 
jdsupra.com | Glen P. Trudel
On December 10, the National Credit Union Administration (NCUA) issued a letter to all federally insured credit unions, highlighting the risks associated with certain overdraft and non-sufficient funds (NSF) fee practices. The letter emphasizes the potential harm to consumers and the heightened risks to credit unions, including reputational, consumer compliance, third-party, and litigation risks, resulting from these fees.
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Oct 17, 2024 | 
troutman.com | Glen P. Trudel
State attorneys general increasingly impact businesses in all industries. Our nationally recognized state AG team has been trusted by clients for 20 years to navigate their most complicated state AG investigations and enforcement actions. State Attorneys General Monitor analyzes regulatory actions by state AGs and other state administrative agencies throughout the nation.
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Oct 14, 2024 | 
jdsupra.com | Glen P. Trudel
On October 2, the Office of the Comptroller of the Currency (OCC) filed an amicus brief in the U.S. District Court for the Northern District of Illinois in support of several banking associations’ motion for a preliminary injunction against the Illinois Interchange Fee Prohibition Act (IFPA).
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Jul 29, 2024 | 
consumerfinancialserviceslawmonitor.com | Keith Barnett |Stefanie Jackman |Carlin McCrory |Glen P. Trudel
On July 25, the Consumer Financial Protection Bureau (CFPB or Bureau) released an Issue Spotlight focusing on the fees associated with electronic payment platforms used by school districts to process school lunch payments. In its report, the CFPB emphasized the costs of electronic payments in K-12 schools and the potential financial strain these fees could place on lower income families.
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Jul 29, 2024 | 
lexology.com | Keith Barnett |Stefanie Jackman |Carlin McCrory |Glen P. Trudel
On July 25, the Consumer Financial Protection Bureau (CFPB or Bureau) released an Issue Spotlight focusing on the fees associated with electronic payment platforms used by school districts to process school lunch payments. In its report, the CFPB emphasized the costs of electronic payments in K-12 schools and the potential financial strain these fees could place on lower income families.
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Jul 23, 2024 | 
insidearm.com | Jason Cover |Stefanie Jackman |Lori J. Sommerfield |Glen P. Trudel
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed the implementation of its credit card late fee rule.
