News & Analysis as of

Administrative Procedure Act Penalties Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

CFPB gets its credit card late fee rule tossed

On April 15, the U.S. District Court for the Northern District of Texas vacated the CFPB’s Credit Card Late Fee Rule pursuant to a joint motion for entry of consent judgment reached by the parties. The court found the CFPB’s...more

Troutman Pepper Locke

CFPB Abandons Credit Card Late Fee Rule

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) agreed to vacate its controversial credit card late fee rule in a joint motion for entry of consent judgment filed in Chamber of Commerce of the United States of...more

Burr & Forman

PHH Wins Stay of $109M CFPB Enforcement Penalty

Burr & Forman on

On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more

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