A judge in the banking industry/CFPB legal battle can remain on the case. That’s according to a ruling — made public Thursday (April 18) by Reuters — by a judicial ethics panel, which convened to determine whether U.S. Circuit Judge Don Willett needed to recuse himself because...
Out of committee…and now the path is a winding one for the proposed repeal of the Consumer Financial Protection Bureau’s (CFPB) rule that would cap credit card late fees as soon as next month. On Wednesday (April 17), the House Financial Services Committee (HSFC) voted to approve a...
A federal lawsuit challenging new credit card late fee limits will remain in Texas. The U.S. Court of Appeals for the Fifth Circuit ruled Friday (April 5) that the suit will be heard in Fort Worth, reversing an earlier decision by federal Judge Mark Pittman moving the...
The Consumer Financial Protection Bureau (CFPB) came under fire on Capitol Hill Thursday (March 7) from critics who charged that caps on credit card late fees, and other actions, would hurt innovation and banks’ customers in the long run. At the hearing, titled “Politicized Financial...
March 07, 2024
The Consumer Financial Protection Bureau (CFPB) came under fire on Capitol Hill Thursday (March 7) from critics who charged that caps on credit card late fees, and other actions, would hurt innovation and banks’ customers in the long run. At the hearing, titled “Politicized Financial Regulation and its Impact on Consumer Credit and Community Development,” […]
February 01, 2023
The Biden administration’s targeting of credit card late fees may lead to unintended consequences. Among those consequences: Stifling consumers’ embrace of banks’ innovations designed to avoid late payments in the first...
May 29, 2024
This round of jurisdictional ping pong goes to the CFPB. A federal judge in Texas has bounced a lawsuit challenging the consumer protection agency’s credit card late fees cap back to Washington, D.C, Reuters reported Tuesday (May 28). U.S. District Judge Mark Pittman in Fort Worth ordered the case be moved out of his court […]
April 18, 2024
A judge in the banking industry/CFPB legal battle can remain on the case. That’s according to a ruling — made public Thursday (April 18) by Reuters — by a judicial ethics panel,...
April 07, 2024
A federal lawsuit challenging new credit card late fee limits will remain in Texas. The U.S. Court of Appeals for the Fifth Circuit ruled Friday (April 5) that the suit will be...
March 06, 2024
What will the loss of credit card late fees mean for America’s biggest banks? A report Tuesday (March 5) by Goldman Sachs Equity Research examines the impact of lost revenue...
