After much anticipation, the Consumer Financial Protection Bureau (CFPB) has issued a final rule drastically reducing Regulation Z’s safe harbor fee amount for credit card late fees to $8 for card issuers that do not qualify...more
One of the primary challenges with working in U.S. financial services is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory changes...more
1/4/2024
/ Annual Percentage Rate (APR) ,
Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Data Security ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Late Fees ,
Loans ,
Regulatory Agenda ,
Small Business
After a two-year waiting period, a New York law requiring notice of certain credit card account and rewards program changes and a 90-day grace period to use credit card rewards has become effective. See N.Y. Gen. Business Law...more
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would dramatically decrease the late payment fee amount that card issuers could charge on credit cards and qualify for a safe harbor...more