Penalties, Consumer Financial Protection Bureau (CFPB), Regulatory Requirements

CFPB Settles First Action Under New Leadership: Current State of the CFPB and a Look Ahead

Mayer Brown on 7/21/2025

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has seen significant changes since President Donald Trump fired former Director Rohit Chopra in January 2025. Under Acting Director Russell Vought, the CFPB has...more

Know Now or Pay Later: Navigating New York's Buy-Now-Pay-Later Act

Holland & Knight LLP on 7/10/2025

Once hailed as the sleek, interest-free alternative to credit cards, buy-now-pay-later (BNPL) loans have become a defining feature of modern consumer finance. Consumers like them because with just a few clicks, they can...more

CFPB publishes policy statement on criminally liable regulatory offenses

Orrick, Herrington & Sutcliffe LLP on 6/30/2025

On June 27, the CFPB published a policy statement in the Federal Register outlining its plan to address criminally liable regulatory offenses. The statement came in response to Executive Order 14294, which the President...more

CFPB Provides Guidance on Referrals for Potential Criminal Enforcement

Holland & Knight LLP on 6/30/2025

The CFPB has issued a policy statement describing its plan to address criminally liable regulatory offenses. President Donald Trump previously issued an executive order on May 9, 2025, requiring each federal agency to publish...more

Ensuring Compliance with ‘Junk Fee’ Regulatory Requirements

Morgan Lewis on 5/14/2025

With the continued expansion of the regulation of “junk fees,” including bipartisan actions from federal, state, and local authorities, it is more important than ever for businesses to ensure compliance with these...more

CFPB gets its credit card late fee rule tossed

Orrick, Herrington & Sutcliffe LLP on 4/28/2025

On April 15, the U.S. District Court for the Northern District of Texas vacated the CFPB’s Credit Card Late Fee Rule pursuant to a joint motion for entry of consent judgment reached by the parties. The court found the CFPB’s...more

CFPB Abandons Credit Card Late Fee Rule

Troutman Pepper Locke on 4/16/2025

The Consumer Financial Protection Bureau (CFPB or Bureau) agreed to vacate its controversial credit card late fee rule in a joint motion for entry of consent judgment filed in Chamber of Commerce of the United States of...more

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