News & Analysis as of

Enforcement Actions Credit Cards Consumer Protection Laws

Orrick, Herrington & Sutcliffe LLP

CFPB drops CFPA, TILA-related case

On April 23, the CFPB filed a notice of dismissal pertaining to its lawsuit filed in the U.S. District Court for the Western District of Pennsylvania against a credit card company and its CEO. The CFPB alleged the company...more

Sheppard Mullin Richter & Hampton LLP

FDIC Orders Bank to Pay $1.225 Billion for Alleged Interchange Fee Misclassification 

On April 18, the FDIC announced a consent order against a Delaware-based bank alleging that the bank engaged in unsafe and unsound banking practices and violated various federal consumer protection laws, including Section 5...more

Sheppard Mullin Richter & Hampton LLP

CFPB Drops Suit Against Credit Card Company Alleging TILA Violations and Deceptive Marketing Practices

On April 23, the CFPB voluntarily dismissed with prejudice its lawsuit, filed in September 2024, against a Pennsylvania-based credit card company that had been accused of unlawfully marketing a high-cost, limited-use...more

Goodwin

2024 Year in Review: Cards, Payments, and Consumer Banking

Goodwin on

We expect continued scrutiny by regulators on fees, including enforcement actions and rulemakings, with the caveat that the new administration could shift federal priorities away from this fee crackdown....more

Goodwin

CFPB Takes Action on Bait-and-Switch Credit Card Rewards Tactics

Goodwin on

Following months of public hearings and reports on credit card rewards programs, on December 18, 2024, the Consumer Financial Protection Bureau (CFPB) released a circular (Circular) to other law enforcement agencies alleging...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 7, 2025)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Bradley Arant Boult Cummings LLP

CFPB Rescinds 2020 Policy Statements Issued Due to COVID-19

On March 31, 2021, the Consumer Financial Protection Bureau (CFPB) rescinded seven recent policy statements and one bulletin in an effort to ensure compliance with consumer protection laws and reinforce its supervisory and...more

Goodwin

State AGs Announce $4.2 Million Settlement with National Bank for Alleged CARD Act Violations

Goodwin on

On February 8, state ​Attorneys General for North Carolina, Iowa, Massachusetts, New Jersey, and Pennsylvania (State AGs) announced a $4.2 million settlement ​with a national bank to resolve allegations that it overcharged...more

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