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Fees Rulemaking Process Financial Institutions

Sheppard Mullin Richter & Hampton LLP

New York Proposes Limits on Overdraft and NSF Fees

On January 23, 2025 the New York Department of Financial Services (NYDFS) announced proposed regulations to curb overdraft fees and insufficient funds fees charged by banks in New York. The proposed rules aim to protect...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws its proposed rule to ban nonsufficient fees

On January 14, the CFPB withdrew its proposed rule prohibiting financial institutions from charging nonsufficient funds (NSF) fees on transactions that are “instantaneously or near-instantaneously” declined. NSF fees are...more

Sheppard Mullin Richter & Hampton LLP

CFPB Continues its War on Fees

The CFPB recently proposed two rules on its continuing war on so-called junk fees. The first rule, proposed on January 17, target’s bank overdraft programs. Currently, financial institutions that extend overdraft loans...more

Adams & Reese

CFPB Solicits Feedback on “Junk Fees” – Are New Regulations Coming?

Adams & Reese on

On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) issued a request for public comment relating to “junk fees” consumers may be subjected to when engaging in financial services. So what exactly is a...more

Sheppard Mullin Richter & Hampton LLP

The CFPB Study Shines Spotlight on Banking Fees as a Presage to Greater Regulatory Scrutiny of Consumer Banking Fees

The Consumer Financial Protection Bureau (“CFPB”) has enhanced its regulatory scrutiny of the fees financial institutions assess on consumer depositors. To better understand the gamut of such fees and financial institutions’...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Ballard Spahr LLP

New York Issues Final Mortgage Servicing Regulations

Ballard Spahr LLP on

On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. ...more

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