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Financial Services Industry › Credit Cards › Regulatory Reform

Orrick, Herrington & Sutcliffe LLP

Illinois amendment to delay the effective date of its Interchange Fee Prohibition Act passes both chambers

Orrick, Herrington & Sutcliffe LLP on

On May 31, the Illinois General Assembly passed legislation to defer the effective date of the Interchange Fee Prohibition Act by one year until July 1, 2026. As previously covered by InfoBytes, Illinois originally enacted...more

Holland & Knight LLP

CFPB Credit Card Late Fees Rule Vacated by Texas District Court

Holland & Knight LLP on

On April 15, 2025, Judge Mark T. Pittman of the U.S. District Court for the Northern District of Texas entered an order and final judgment vacating the CFPB's credit card penalty fees rule (the Late Fee Rule). Judge Pittman's...more

Ballard Spahr LLP

Federal Judge voids CFPB credit card late fee rule

Ballard Spahr LLP on

At the request of both sides of the lawsuit, a federal judge has voided the CFPB’s credit card late fee rule....more

Ballard Spahr LLP

Financial Services Committee Republicans call on CFPB to withdraw rules, guidance

Ballard Spahr LLP on

Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules....more

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