News & Analysis as of

State Attorneys General New Guidance Consumer Financial Protection Bureau (CFPB)

Sheppard Mullin Richter & Hampton LLP

CFPB Narrows State Enforcement Powers by Rescinding 2022 Interpretative Rule

On May 15, the CFPB rescinded its May 2022 interpretive rule that had expanded state enforcement authority under Section 1042 of the Consumer Financial Protection Act (CFPA). The Bureau now maintains that the previous...more

Jenner & Block

CFPB Warns Digital Marketers, Loops In State AGs

Jenner & Block on

In a recent interpretive rule announced on August 10, 2022,—and unveiled at a summit of the National Association of Attorneys General—the CFPB stated that digital marketers are subject to the CFPB’s jurisdiction, and...more

BCLP

Deceptive and Unfair - Multiple NSF Fees on Representments of the Same Transaction

BCLP on

In guidance issued recently, the Federal Deposit Insurance Corporation (“FDIC”) advised that charging multiple non-sufficient funds (“NSF”) fees constitute “violations of law” when customer disclosures do not fully and...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

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