On February 20, several business groups and trade associations filed a motion for summary judgment in the U.S. District Court for the Northern District of Texas in their lawsuit seeking to vacate the CFPB’s final rule...more
The CFPB has issued a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z under the Truth in Lending Act (TILA) that implement the CARD Act, Home Ownership and Equity...more
On August 22, 2024, the CFPB filed its reply brief in support of its motion to dissolve the preliminary injunction and lift the stay of the CFPB’s credit card late fee final rule (“Rule”) in the lawsuit challenging the Rule....more
On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more
On July 18, 2024, in the lawsuit challenging the CFPB’s credit card late fee rule (Rule), the CFPB refiled its notice of supplemental authority in support of its motion to dismiss or transfer the case, motion to dissolve the...more
In an unusual move, the CFPB is coming to the defense of a bank being accused of failing to provide repayment disclosures to a borrower....more
On Friday May 24, in response to the CFPB’s motion requesting the Fifth Circuit to accelerate the issuance of its mandate from July 9, 2024 with respect to its earlier dismissal of the plaintiffs’ appeal, the Fifth Circuit...more
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...more
The Consumer Financial Protection Bureau (“CFPB”) filed an opposition brief (the “Opposition”) on Tuesday in response to a request by plaintiff trade groups to enjoin the CFPB’s final credit card late fee rule (the “Final...more
On February 1, the CFPB issued a notice of proposed rulemaking (NPRM) to amend Regulation Z, which implements TILA, and its commentary to better ensure that late fees charged on credit card accounts are “reasonable and...more
As part of an effort to modernize and streamline certain submission practices for credit card issuers, the Consumer Finance Protection Bureau (“CFPB”) now mandates credit card issuers to submit certain reporting requirements...more
The CFPB has published a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z (TILA) that implement the CARD Act, HOEPA, and the ability to repay/qualified mortgage...more