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Consumer Financial Products › Overdraft Fees › Disclosure Requirements

Orrick, Herrington & Sutcliffe LLP

New York governor announces financial services updates for state

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On May 9, New York Governor Kathy Hochul announced several updates related to financial services for the State of New York. Hochul announced new legislation as part of the FY26 enacted budget to regulate “Buy Now, Pay Later”...more

Morrison & Foerster LLP

Leaning In: The CFPB Publishes Rule on Fees for Overdraft Services

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On December 30, 2024, the Consumer Financial Protection Bureau (CFPB) published a final rule that may dramatically change the way that certain large financial institutions offer overdraft services to consumers. Under the...more

Ballard Spahr LLP

CFPB proposed rule would makes certain overdraft program’s credit subject to Regulation Z disclosure requirements and could cap...

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In furtherance of the Biden Administration’s “junk fee” agenda, on January 17, 2024, the Consumer Financial Protection Bureau issued its proposed rule to amend Regulations E and Z to regulate overdraft services provided by...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Performance-Based Regulation: A New Approach to Consumer Financial Regulation, with...

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Professor Willis advocates the adoption of a performance-based approach to regulation to replace or supplement the current approach of disclosure and design regulation. We first discuss how benchmarks would be used in a...more

Ballard Spahr LLP

CFPB’s Final Prepaid Card Rule: Long Form Disclosures

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The final Prepaid Card Rule requires not only so-called “packaging” or short form disclosures prior to acquisition of the prepaid card account, but also that a long form disclosure be provided to the consumer. Whereas the...more

Morrison & Foerster LLP

What To Know About CFPB's New Prepaid Card Rule

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The Consumer Financial Protection Bureau issued its final rule to amend provisions of Regulation E and Regulation Z to further regulate prepaid card products, or “prepaid accounts.” As discussed below, the rule generally...more

Ballard Spahr LLP

CFPB finalizes sweeping expansion of prepaid account regulations

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The CFPB has issued its long-anticipated final rule for general purpose prepaid accounts.  As expected, the new regulations expand the products covered by Regulation E, introduce significant new disclosure requirements,...more

Goodwin

Financial Services Weekly News - July 2016 #3

Goodwin on

Regulatory Developments - SEC Proposes Amendments to Update and Simplify Disclosure Requirements as Part of Overall Disclosure Effectiveness Review - On July 13, the Securities and Exchange Commission (SEC) proposed...more

Morrison & Foerster LLP

Members of Congress Recommend Changes to the CFPB’s Proposed Prepaid Account Rule

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The comment period to the CFPB’s Notice of Proposed Rulemaking for Prepaid Accounts (the “Proposed Rule”) closed in March, but 43 Members of Congress (42 Republicans and 1 Democrat) recently sent a letter to Director Cordray...more

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