CFPB gets its credit card late fee rule tossed
By EsqSocial Corporation 28/04/25
On April 15, the U.S. District Court for the Northern District of Texas vacated the CFPB’s Credit Card Late Fee Rule pursuant to a joint motion for entry of consent judgment reached by the parties. The court found the CFPB’s rule failed to allow card issuers to charge penalty fees that are “reasonable and proportional to violations,” in violation of both the Credit Card Accountability and Disclosure Act (the CARD Act) and the APA....
By: Orrick, Herrington & Sutcliffe LLP