CFPB

The Consumer Financial Protection Bureau dropped its appeal in a case in which PayPal Holdings, Inc., challenged a 2019 rule extending fee disclosure requirements for prepaid card products to digital wallets as well. Read on »

The Consumer Financial Protection Bureau announced the latest in a string of dropped court cases under the Trump administration with its decision to voluntarily dismiss a lawsuit against the holding company for Horizon Card Services and its CEO, alleging deceptive marketing strategies targeting low-income Americans. Read on »

Another chapter was written in the ongoing legal saga concerning the embattled Consumer Financial Protection Bureau last week. Shortly after a federal court partially lifted a court order preventing mass firings at the bureau, the Trump administration resumed its plans to gut the agency, prompting the courts to intervene again. Read on »

The D.C. Circuit Court of Appeals stayed portions of a preliminary injunction imposed by a district court last month to halt actions aimed at dismantling the Consumer Financial Protection Bureau (CFPB). The appeals court ruled the bureau must maintain adequate resources to perform its statutory duties. Read on »

A federal court vacated the Consumer Financial Protection Bureau’s final rule regulating credit card late fees, drawing praise from the financial services industry. The credit card late fee rule would have capped the safe harbor dollar amount for late fees at $8. Read on »

The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervisory actions pursuant to its regulation requiring nonbank financial institutions caught violating the law to register with the bureau. Read on »

The U.S House passed two measures nullifying rules finalized by the Consumer Financial Protection Bureau under the Biden-Harris administration with strong support from Republicans. The resolutions of disapproval targeted the bureau’s rule capping overdraft fees and its larger participant rule, applying to large digital payment providers. Read on »

The Government Accountability Office published a list of recommendations for how three federal agencies tasked with identifying and preventing scammers from harming consumers, companies and national security can better collaborate to accomplish certain shared objectives. Read on »

As the Consumer Financial Protection Bureau prepares to rethink its final rule implementing small business lending requirements detailed in Sec. 1071 of the Dodd-Frank Act, community banking advocates expressed support for bills requiring the bureau to delete information collected about loan applicants for the sake of privacy. Read on »

The House passed a resolution nullifying the Consumer Financial Protection Bureau’s (CFPB) final rule imposing a cap on overdraft fees charged by depository institutions. The 217-211 vote to repeal the controversial rule that would limit the maximum fee consumers could be charged for a single overdraft. Read on »