CFPB Credit Card Penalty, Junk Fees


On Feb. 1, CFPB issued rule amendments on late fee reasonability.


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Regulators CFPB; House; White House
Entity Types Bank; BHC; CNSM; MSB
Reference 89 FR 19128, 3/15/2024; PR, RF, Gd, Sp, 3/5/2024; 88 FR 18906, 3/29/2023; Senate: PR, 3/5/2024; House: PR, 3/5/2024; PR, 2/2/2023; BPI: PR, 3/5/2024; PR, Lt, 5/3/2023; PR, 2/1/2023; White House: PR, 2/1/2023; CFPB: Sp, 3/3/2023; Sp, PR, Rp, RF, 2/1/2023; RIN 3170-AB15; Docket No. CFPB-2023-0010; CARD Act; Reg Z; TILA; Citation: 12 CFR 1026;
Functions Compliance; Financial; Legal; Operations; Product Administration
Countries United States of America
Category
State
Products Banking; Cards; Payments
Regions Am
Rule Type Final
Rule Date 2/1/2023
Effective Date 5/14/2024
Rule Id 161903
Linked to Rule :141250
Reg. Last Update 3/15/2024
Report Section US Consumer

Last substantive update on 03/18/2024