Steven M. Kaplan

Mar 25, 2024 | mondaq.com | Eric T. Mitzenmacher |Steven M. Kaplan |Jan Stewart |Jeffrey Taft

On March 5, the Consumer Financial Protection Bureau ("CFPB" or "Bureau") issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge from $30 or $41, in most cases, to a mere $8. As finalized, the rulemaking largely aligns with the Bureau's Proposed Rule on the same subject matter issued February 1, 2023, with certain differences described below.

Mar 22, 2024 | lexblog.com | Eric T. Mitzenmacher |Steven M. Kaplan |Jan Stewart |Jeffrey Taft

On March 5, the Consumer Financial Protection Bureau (the “Bureau”) issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge to a mere $8. Within two days, the Final Rule faced a challenge in the Northern District of Texas by a coalition of trade groups including the United States Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association.

Mar 18, 2024 | lexology.com | Eric T. Mitzenmacher |Steven M. Kaplan |Jan Stewart |Jeffrey Taft |Joy N Tsai

On March 5, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge from $30 or $41, in most cases, to a mere $8. As finalized, the rulemaking largely aligns with the Bureau’s Proposed Rule on the same subject matter issued February 1, 2023, with certain differences described below.

Nov 8, 2023 | mondaq.com | Justin Herring |Rajesh De |Steven M. Kaplan |Stephen Lilley

On November 1, 2023, the New York Department of Financial Services (“NYDFS”) finalized the amendment to its cybersecurity regulation (the “Amendment”). The Amendment expands cybersecurity requirements across many areas—from governance to incident response to access controls. The Amendment follows the three published drafts: two proposals published for formal notice and comment in November 2022 and June 2023, and a pre-proposal draft published in July 2022.

Nov 3, 2023 | lexblog.com | Justin Herring |Rajesh De |Steven M. Kaplan |Stephen Lilley

Stephen Lilley is a partner in the Washington DC office of Mayer Brown. He focuses his practice on helping clients navigate cutting-edge and interrelated litigation, regulatory, and policy challenges. A member of the firm’s Litigation and Cybersecurity & Data Privacy practices, Stephen develops…Stephen Lilley is a partner in the Washington DC office of Mayer Brown. He focuses his practice on helping clients navigate cutting-edge and interrelated litigation, regulatory, and policy challenges.