Topic: Credit Cards
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CFPB and the DOJ withdraw joint statement on fair lending
NEWS: On January 12th, the Consumer Financial Protection Bureau (CFPB) announced the withdrawal of an October 2023 joint statement which warned that a creditor’s policies related to an applicant’s immigration or citizenship status could, […]
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Judge agrees to scrap CFPB’s credit card late fee rule
NEWS: A federal judge has voided a CFPB rule that would have capped credit card late fees at $8 for card issuers with at least 1 million open accounts. The judge’s order was […]
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CFPB finalizes open banking rule
NEWS: Last week, the CFPB finalized its comprehensive open banking rule. The 594-page document implements Section 1033 of the Dodd-Frank Act. It will require credit unions, other financial institutions, credit card issuers, […]
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MasterCard SecureCode
MasterCard SecureCode enhances your current MasterCard account with a secret code to protect against unauthorized use of your card when you shop at participating merchants.
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CFPB’s small business lending rule gets new effective dates
NEWS: In light of last week’s U.S. Supreme Court decision (which we covered in this Compliance Courier) that the Consumer Financial Protection Bureau’s (CFPB’s) funding mechanism is constitutional, the Bureau has announced […]
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CFPB’s small business lending rule gets new effective dates
NEWS: In light of last week’s U.S. Supreme Court decision (which we covered in this Compliance Courier) that the Consumer Financial Protection Bureau’s (CFPB’s) funding mechanism is constitutional, the Bureau has announced […]
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Federal court temporarily stays credit card late fees rule
NEWS: A federal trial court in Texas has issued a preliminary injunction to stop the Consumer Financial Protection Bureau’s (CFPB’s) credit card late fees rule from taking effect. The rule was set to […]
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CFPB Caps Credit Card Late Fees
NEWS: The Consumer Financial Protection Bureau (CFPB) issued the Credit Card Penalty Fees Final rule today to set a ceiling of $8 per incident for credit card late fees. The rule, which applies […]
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#83007 – Notice to Cosigner (Rev. 7/23)
Use for: Open or closed-end credit when required by the FTC’s Credit Practice Rule at 16 CFR 444 – basically consumer credit (personal, family, or household purpose) with a cosigner […]
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CFPB proposal would lower limits on credit card late fees
COMMENT CALL: As we pointed out in a previous Compliance Courier, the CFPB is on a mission to curb what it calls excessive “junk fees” charged by banks, credit unions and other […]