Popular, Credit Cards, Financial Institutions

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

Goodwin on 3/14/2025

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

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

Skadden, Arps, Slate, Meagher & Flom LLP on 12/17/2024

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Why the Capital One-Discover Merger Makes Sense

Mogin Law LLP on 8/5/2024

When federal agencies review bank mergers, the competition issues typically relate to the number and location of physical branches and the extent of any overlap in the areas served. By contrast, the proposed $35 billion...more

CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

Hudson Cook, LLP on 5/24/2024

In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more

Merchant Plaintiffs Reach Settlement in Payment Card Interchange Fee and Merchant Discount Antitrust Litigation

Alston & Bird on 4/19/2024

Our Financial Services Group summarizes the closely observed preliminary settlement agreement over the fees credit card companies and banks charge merchants....more

CFPB report analyzes college banking and credit card agreements

Orrick, Herrington & Sutcliffe LLP on 12/26/2023

On December 19, the CFPB released a report titled College Banking and Credit Card Agreements: Annual Report to Congress, which found that some college-sponsored financial products marketed towards students have less...more

Atlantic Union Bank to pay $6.2M for its unlawful overdraft opt-in practices

Ballard Spahr LLP on 12/11/2023

On December 7, 2023, Atlantic Union Bank (the “Bank”) entered into a consent order with the Consumer Financial Protections Bureau (CFPB) related to its in-person and telephone overdraft opt-in sales practices during...more

Wiley Consumer Protection Download (January 24, 2022)

Wiley Rein LLP on 1/25/2022

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

Nutter Bank Report: January 2020

Nutter McClennen & Fish LLP on 1/30/2020

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Financial institutions M&A: Sector trends - January 2019: The face of consumer finance is changing

White & Case LLP on 1/23/2019

Consumer finance:* Credit cards/Consumer credit - Deal activity involving credit card businesses blooms—trade consolidators, financial sponsors and big banks see opportunities - Buyers scrutinise historic compliance...more

The Economic Loss Doctrine as a Barrier to Data Breach Recovery

Bradley Arant Boult Cummings LLP on 5/17/2018

We recently commented on one hotly contested legal issue being addressed by the courts in data breach class action litigation, that of plaintiffs’ standing. Another issue that has been the subject of recent court activity in...more

Thirty-Six Individuals Charged In Global Cybercrime Ring “Infraud”

King & Spalding on 2/16/2018

The United States Department of Justice (“DOJ”) recently indicted thirty-six individuals leading a global cybercrime ring for allegedly trafficking in stolen personal and financial information....more

Hogan Lovells Global Payments Newsletter - January 2017

Hogan Lovells on 1/18/2017

Welcome to the Hogan Lovells Global Payments Newsletter. In this monthly publication we provide an overview of the most recent payments, regulatory and market developments from major jurisdictions around the world as well as...more

Home Depot Challenges Banks’ Standing to Recover Losses Related to Data Breaches

Bilzin Sumberg on 7/12/2016

In the aftermath of major data breaches at deep-pocketed retailers and other businesses, there is typically no shortage of litigants who move quickly to seek compensation from the business at which the breach occurred. But...more

CFPB Director Cordray Touts Success and Future Agenda

BakerHostetler on 3/14/2016

On March 9, 2016, Consumer Financial Protection Bureau (“CFPB”) Director Richard Cordray outlined the CFPB’s progress and future plans to the Consumer Bankers Association (“CBA”). Cordray touted the CFPB’s great success...more

Year in Review: Legislation and Guidance for Financial Institutions in 2015

Blake, Cassels & Graydon LLP on 1/21/2016

Financial institutions in Canada witnessed yet another year of significant growth in legislation and regulatory guidance impacting their operations, while the financial marketplace is continuing to adapt to the impact of...more

CFPB's October Complaint Snapshot Focuses on Credit Card Complaints

Baker Donelson on 11/16/2015

The Consumer Financial Protection Bureau (CFPB) has been taking complaints from consumers about all financial service products, including credit cards, since its inception on July 21, 2011. As of October 1, 2015, the CFPB has...more

Flaws and All, CFPB's Arbitration Study Sparks Vigorous Debate over Next Steps in Regulating Mandatory Arbitration Clauses

Baker Donelson on 9/28/2015

As expected, the reaction to the Consumer Financial Protection Bureau's (CFPB) arbitration study report, released in March 2015, has been vociferous. All sides of this important debate are loudly proclaiming that their...more

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