On March 13, at the Financial Data Exchange Global Summit, CFPB Director Rohit Chopra delivered a keynote address that focused on “the role of standard setters and standard-setting” as the CFPB pushes towards finalizing is its proposed Personal Financial Data Rights Rule.
Continue Reading Setting the Standard: CFPB to Codify Attributes for Standard-Setters Before Finalizing Personal Financial Data Rights Rule
CFPB
CFPB Unveils Final Rule Banning ‘Excessive’ Credit Card Late Fees
On March 5, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rule intended to limit late payment fees on credit cards issued by the largest credit card issuers. The…
Continue Reading CFPB Unveils Final Rule Banning ‘Excessive’ Credit Card Late FeesCFPB Sued By Industry Over Credit Card Late Fee Rule
On March 7, the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, and…
Continue Reading CFPB Sued By Industry Over Credit Card Late Fee RuleCFPB Broadens Supervisory Appeals Process
On Feb. 16, 2024, the Consumer Financial Protection Bureau (CFPB) updated its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding. This…
Continue Reading CFPB Broadens Supervisory Appeals ProcessCFPB Issues Proposed Rule to Stop ‘Junk Fees’ on Bank Accounts
On Jan. 24, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would, if finalized in its present form, prohibit financial institutions from charging non-sufficient funds (NSF)…
Continue Reading CFPB Issues Proposed Rule to Stop ‘Junk Fees’ on Bank AccountsCFPB Proposes Rule to Reclassify Overdraft Fees Under TILA
In a move that could reshape the landscape of consumer finance, on Jan. 17, 2024, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that aims to redefine overdraft…
Continue Reading CFPB Proposes Rule to Reclassify Overdraft Fees Under TILACFPB Unveils Plan to Supervise Big Tech Digital Wallet and Payment App Providers
On Nov. 7, 2023, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would, if finalized in its present form, establish the CFPB’s supervisory authority over certain “larger…
Continue Reading CFPB Unveils Plan to Supervise Big Tech Digital Wallet and Payment App ProvidersCFPB Issues ‘Fast Facts’ for Proposed Personal Financial Data Rights Rule
On Nov. 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a high-level overview of the topics covered in its proposed Personal Financial Data Rights rule: Fast Facts: Personal Financial…
Continue Reading CFPB Issues ‘Fast Facts’ for Proposed Personal Financial Data Rights RuleCourt Issues Nationwide Stay of CFPB’s Section 1071 Small Business Lending Rule
On Oct. 26, 2023, the U.S. District Court for the Southern District of Texas issued a nationwide injunction prohibiting the Consumer Financial Protection Bureau (CFPB) from implementing or enforcing its…
Continue Reading Court Issues Nationwide Stay of CFPB’s Section 1071 Small Business Lending RuleCFPB Issues Proposed ‘Personal Financial Data Rights’ Rule
On Oct. 19, 2023, the CFPB released a proposed rule that, if finalized in its present form, would require covered financial institutions to provide consumers and authorized third parties with…
Continue Reading CFPB Issues Proposed ‘Personal Financial Data Rights’ Rule