News & Analysis as of

Creditors Credit Cards Consumer Financial Protection Bureau (CFPB)

McGlinchey Stafford

Fifth Circuit Affirms FCRA Limits: Credit Reporting Agencies are Not Required to Resolve Fraud Claims

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In a case of first impression, the Fifth Circuit in Reyes v. Equifax Information Systems, L.L.C., joined the First, Seventh, Ninth, and Tenth Circuits in affirming the District Court for the Eastern District of Texas’s...more

Shipkevich PLLC

Credit Card Rewards Programs Oversight – The Next Notch in the CFPB’s Payments Space Regulatory Belt

Shipkevich PLLC on

In another move highlighting the Consumer Financial Protection Bureau's (the “Bureau” or “CFPB”) continued focus on the payments space, the CFPB has issued a new report finding consumers are encountering numerous problems...more

Mayer Brown

CFPB Finalizes Rule Significantly Restricting Credit Card Late Fees

Mayer Brown on

On March 5, the Consumer Financial Protection Bureau issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge to a mere $8—representing approximately a 75% reduction from...more

Ballard Spahr LLP

CFPB continues to look to creditors to help servicemembers take advantage of SCRA benefits

Ballard Spahr LLP on

On January 12, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a report highlighting an increase in reported incidents of identity theft by servicemembers. The report, titled “Servicemember reports about...more

Ballard Spahr LLP

CFPB extends comment period for RFI on expanding credit access and further protecting consumers from credit

Ballard Spahr LLP on

The CFPB has extended by 60 days the comment period for its Request for Information (RFI) on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are...more

Baker Donelson

Credit Card Issuers Get Ready – MLA in Full Effect October 3

Baker Donelson on

Credit card issuers get ready; now is the time to make sure you are in compliance with the new requirements of the Military Lending Act (MLA). The amendments to the MLA expanded both the type of creditors it regulates and the...more

Morrison & Foerster LLP

CFPB Initiates Third CARD Act Review

On March 10, 2017, the Consumer Financial Protection Bureau (CFPB or Bureau) published a Request for Information (2017 RFI) regarding the consumer credit card market. In accordance with Section 502(a) of the Credit Card...more

Bradley Arant Boult Cummings LLP

CFPB Solicits Comments for its 2017 Credit Card Market Report

On Friday, the Consumer Financial Protection Bureau (CFPB) published a request for information about the credit card market. The CFPB uses responses to those requests, in conjunction with other data and research, to publish...more

Ballard Spahr LLP

CFPB flags new issues in latest credit card review

Ballard Spahr LLP on

The CFPB has issued another request for information about the credit card market that identifies significant new issues of CFPB interest. The request is intended to inform the CFPB’s biennial review of the credit card market...more

Morrison & Foerster LLP

Department of Defense Adopts Significant Changes to Its Military Lending Act Regulations

On July 22, 2015, the Department of Defense (DOD) published sweeping changes to its rules that implement the Military Lending Act (MLA). The amended rules significantly expand the scope of the MLA provisions by covering both...more

Morrison & Foerster LLP

DOD Proposes Significant Expansion of Military Lending Act Protections

On September 29, 2014, the Department of Defense (DOD) published a proposed rule in the Federal Register to amend its regulation implementing the Military Lending Act (MLA), 32 C.F.R. Part 232, to significantly expand the...more

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