The Overdraft Issue
Overdraft fees have long been the topic of debate, with the CFPB looking to severely limit or get rid of them entirely and credit unions, in return, looking to get rid of the CFPB entirely. But there are two sides, maybe even three, to every story. Emily Claus examines the overdraft issue, the various perspectives on it, and what potential outcomes there might be.
Despite Supreme Court Ruling, CFPB Still Under Fire From Critics
Supporters of the Consumer Financial Protection Bureau may have hoped that the recent U.S. Supreme Court ruling finding its funding mechanism constitutional would calm its critics; David Baumann reports on why that hasn’t been the case.
CFPB Structure, CDFI Funding, and Marijuana Banking Addressed in New Appropriations Bill
The House recently passed the FY25 Financial Services and General Government Appropriations Bill which restructures the CFPB and limits its funding, calls for marijuana banking protections, and outlines CDFI funding, Emily Claus reports.
Supreme Court’s Rules in Favor of CFPB; Director Chopra Ramps Up Activity
Now that the Supreme Court has found the Consumer Financial Protection Bureau’s funding mechanism constitutional, Director Rohit Chopra is revving up the agency’s engines, reports David Baumann.
Texas Judge Issues Injunction on CFPB’s Credit Card Late Fee Rule
In the ongoing case of financial institutions vs the CFPB, a Federal Judge in Texas has issued an injunction of the CFPB’s credit card late fee ruling, reports Emily Claus.
Appraisers Under Fire for Alleged Bias, Lenders On Notice
The issue of whether appraisers are guilty of racial and ethnic bias an important one, particularly since regulatory agencies have made it clear that lenders, including credit unions, are responsible for the accuracy of appraisals. David Baumann reports on the developments.
CFPB and Credit Unions Clash on Fee Income Reporting and Protections
In recent news on the never-ending clash between credit unions and the Consumer Financial Protection Bureau regarding fee income, credit unions are speaking out against new requirements making fee income public information, reports Emily Claus.
CFPB’s Credit Card Late Fee Rule Change Still Slated for May 2024 Despite Staunch Opposition
Opponents of the CFPB’s credit card late fee proposal are trying to shoot it down everywhere. So far, they are failing. The rule still is slated to go into effect next month. David Baumann reports on the latest developments.
The Fight Against the CFPB’s Late Fee Rule Continues, But Not In Texas
In the latest update on pushback against the CFBP’s credit card late fee ruling, a Texas judge has rejected trade groups’ request for the suit to be filed in the lone star state—where the conditions are more favorable—instead of Washington D.C. Emily Claus reports.
CFPB’s Contentious Credit Card Rule Will Face Stiff Challenge
On March 5, the CFPB issued its final rule governing credit card late fees, reports David Baumann.
