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CFPB and Chamber of Commerce Move To Remove Limits on Credit Card Late Fees

April 15, 2025

Agreement to vacate $8 late fee regulation sidesteps federal law giving the public the right to comment. WASHINGTON, D.C. – Yesterday, the Consumer Financial Protection Bureau (CFPB) dealt a blow to struggling consumers by seeking to remove the cap on credit card late fees. The CFPB filed a joint agreement with the Chamber of Commerce and the…

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NY AG Lawsuit Shows Dangers of Fintech Payday Loan Bills

April 15, 2025

New data shows low-wage workers could pay $700/year or more under pending bills in Connecticut, Maryland, Massachusetts, New York, and other states NEW YORK – The New York Attorney General yesterday filed lawsuits against fintech payday lenders DailyPay and MoneyLion for violating the state’s usury rate laws and engaging in deceptive practices. The lawsuits reveal…

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CFPB Allows Payday Lenders to Inflict Multiple NSF and Overdraft Fees on Struggling Consumers

March 28, 2025

CFPB won’t enforce Bounced Payment Rule held up by U.S. Supreme Court, Fifth Circuit

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CFPB Drops Lawsuit Against Illegal Tip-Based Payday Lender

February 24, 2025

Peer-to-peer loan platform, sued by multiple states, claims 0% APR for 400% APR loans WASHINGTON ––Late Friday the Consumer Financial Protection Bureau (CFPB) dismissed, with prejudice, an enforcement action that it had filed last year against SoLo Funds for deceiving borrowers and illegally extracting fees. Under the previous administration, the CFPB had charged SoLo Funds…

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CNBC: A new bill would cap credit card interest rates at 10%. Here’s what that could mean for your money

February 7, 2025

Appearing in CNBC on February 7, 2025, Stephanie Dhue talks to NCLC Senior Attorney Chi Chi Wu for coverage of how credit card interest rates have been hovering near record highs and a new bipartisan bill that would cap them at a dramatically lower figure. Experts say it may not be a win for consumers. “You…

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Holiday Shoppers Beware! Buy Now Pay Later and Deferred Interest Credit Cards Hold Hidden Dangers

December 2, 2024

New brief explains new protections for BNPL users, offers tips for consumers considering BNPL and no-interest credit card promotions.

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Search Results

CFPB and Chamber of Commerce Move To Remove Limits on Credit Card Late Fees

NY AG Lawsuit Shows Dangers of Fintech Payday Loan Bills

CFPB Allows Payday Lenders to Inflict Multiple NSF and Overdraft Fees on Struggling Consumers

CFPB Drops Lawsuit Against Illegal Tip-Based Payday Lender

CNBC: A new bill would cap credit card interest rates at 10%. Here’s what that could mean for your money

Holiday Shoppers Beware! Buy Now Pay Later and Deferred Interest Credit Cards Hold Hidden Dangers