May 16, 2024 | Federal Regulation, Litigation, News
Supreme Court Issues Long-Awaited CFPB Ruling, Rejecting Challenge and Affirming Constitutionality of Funding Mechanism Earlier today, the Supreme Court handed down its 7-2 decision in Consumer Financial Protection Bureau v. Community Financial Services of America, a...
May 14, 2024 | Federal Regulation, News
FDIC Special Review Committee Releases Scathing Independent Report on Workplace Misconduct and Culture Last week, the FDIC released the report from the independent third-party review, led by the law firm Cleary Gottlieb Steen & Hamilton LLP, into allegations of...
May 2, 2024 | Federal Regulation, News
Consumers Pay More for Products With More Complex Pricing Structures, CFPB Finds In a new report, prepared as part of the Biden Administration’s junk fee initiative, the CFPB found that consumers tend to pay more for products with more complex pricing structures. The...
Apr 30, 2024 | Congressional Legislation, Federal Regulation, News
HFSC Vice-Chairman Rep. French Hill: Republicans’ Focus for Remainder of Biden Admin is Pushing Back on Regulators Speaking before a group of community bankers, Rep. French Hill (R-Ark.) said that for the rest of the Biden Administration, House Republicans’ focus will...
Apr 24, 2024 | Banks & Credit Unions, Federal Regulation, News
CFPB Report Finds Overdraft and NSF Revenue Down More Than 50 Percent in 2023 vs. Pre-Pandemic Levels According to a new report issued by the Consumer Financial Protection Bureau (CFPB), overdraft and nonsufficient funds (NSF) revenues dropped by $6.1 billion since...
Apr 10, 2024 | Congressional Legislation, Federal Regulation, News
Banking Committee Ranking Member Sen. Tim Scott Introduces Resolution to Overturn CFPB Late Fee Rule Earlier this week, Senate Banking Committee Ranking Member Tim Scott (R-S.C.) introduced a resolution aimed at overturning the CFPB’s recently finalized rule limiting...
