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Recently, the U.S. District Court for the Northern District of Illinois Court granted a partial preliminary injunction sought by banking associations against the Illinois Attorney General over the Illinois Interchange Fee...more
The CFPB issued a report detailing certain retailers’ practice of charging consumers cash-back fees to access their own money when using a debit or prepaid card. The report’s key findings include that cash-back fees are...more
On February 20, 2024, California Attorney General Rob Bonta issued a letter warning California-chartered banks and credit unions with assets under $10 billion that charging surprise overdraft fees and returned deposited item...more
On February 22, 2024, California Attorney General Rob Bonta issued letters (the “AG Letter”) to California’s 197 state-chartered banks and credit unions warning that overdraft and returned deposited item fees may violate...more
Perhaps not as prominent in the national news as another relatively high-profile balloon, in its latest effort to legislate and regulate by enforcement, the Consumer Financial Protection Bureau (CFPB), together with New...more