• CFPB Finalizes Rule Significantly Restricting Credit Card Late Fees

  • Apr 11 2024
  • Length: 21 mins
  • Podcast

CFPB Finalizes Rule Significantly Restricting Credit Card Late Fees

Listen for free

View show details

  • Summary

  • On March 5, the Consumer Financial Protection Bureau issued a Final Rule that would significantly restrict late fees that consumer credit card issuers may charge to a mere $8—representing approximately a 75% reduction from current levels. Within two days, the Final Rule faced a challenge in the Northern District of Texas by a coalition of trade groups including the United States Chamber of Commerce, the American Bankers Association, and the Consumer Bankers Association. The challenge seeks to invalidate the Final Rule on several constitutional, procedural, and substantive bases, as well as a temporary stay of the rule’s enforcement while the suit is litigated. Please join Mayer Brown attorneys Eric Mitzenmacher, Jan Stewart, and Joy Tsai as they discuss the rulemaking, the challenges it faces in litigation, and implications for card issuers and secondary market participants.
    Show More Show Less
Show More Show Less
activate_Holiday_promo_in_buybox_DT_T2

What listeners say about CFPB Finalizes Rule Significantly Restricting Credit Card Late Fees

Average customer ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.co.uk reviews

Amazon reviews
No Reviews are Available