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Financial Regulatory Reform › Interest Rates › Credit Cards

Blake, Cassels & Graydon LLP

The Shape of Things to Come: Regulatory Developments in Canadian Payments 2025

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Regulatory updates to Canada’s payments ecosystem are reshaping operational risk, compliance obligations and commercial terms across the sector. From interest rate thresholds to anti-money laundering safeguards, there are...more

Ballard Spahr LLP

Senators Sanders, Hawley introduce legislation to cap credit card interest rates at 10%

Ballard Spahr LLP on

Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%....more

Troutman Pepper Locke

Senators Sanders and Hawley Propose Legislation Capping Credit Card Interest Rates

Troutman Pepper Locke on

On February 4, Senators Bernie Sanders (I-Vt.) and Josh Hawley (R-Mo.) introduced bipartisan legislation aimed at immediately capping credit card interest rates at 10% for a period of five years. This initiative follows a...more

Ballard Spahr LLP

Colorado provides some (but not enough) guidance on new general-purpose credit card carve-out

Ballard Spahr LLP on

In the same 2023 bill (House Bill 23-1229) that included Colorado’s DIDMCA opt-out**, Colorado adopted a statute excepting certain “general-purpose credit cards”, as defined, from the state’s limitations on finance charges...more

Ballard Spahr LLP

More States Mull Interest Rate Preemption and “Anti-Evasion” Legislation

Ballard Spahr LLP on

Rhode Island, Minnesota, and Nevada have joined the list of jurisdictions considering proposals to legislatively opt out of federal interest rate preemption established under the federal Depository Institutions Deregulation...more

Ballard Spahr LLP

CBA “checks the math” on recent CFPB credit card report finding large bank issuers charge higher interest rates than smaller...

Ballard Spahr LLP on

After targeting credit card late fees in its proposed rule, the CFPB has set its sights on further attacking credit card pricing through interest rates. The CFPB published a blog late last month stating that credit card...more

Troutman Pepper Locke

CFPB Issues First Report on Results of Its Updated Terms of Credit Card Plans Survey

Troutman Pepper Locke on

Recently, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its first report on the results of its updated Terms of Credit Card Plans survey. The report found that for the first half of 2023, small banks and...more

Ballard Spahr LLP

New CFPB credit card report finds large bank issuers are charging higher interest rates than smaller issuers

Ballard Spahr LLP on

In a new data spotlight issued last week, the Consumer Financial Protection Bureau (“CFPB”) found that interest rates charged on credit cards issued by large banks are higher than interest rates charged on credit cards issued...more

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