On Oct. 2, 2024, the Federal Deposit Insurance Corporation (FDIC) published a notice of proposed rulemaking (Proposed Rule) designed to strengthen recordkeeping requirements for custodial deposit accounts with transactional features
Continue Reading FDIC Proposes New Requirements for Custodial Accounts
On June 17, 2024, the FTC filed a federal court complaint against Adobe and two of its executives. The complaint alleges that Adobe deceived consumers by failing to adequately disclose
Continue Reading FTC Targets Adobe for Hidden Fees and Deceptive Subscription Practices
On June 4, 2024, the CFPB released a circular cautioning companies against including unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. The circular asserts
Continue Reading CFPB Warns Against Deceptive Fine-Print Tactics Targeting Consumers
On May 30, 2024, the CFPB issued a new request for information (RFI) from the public regarding “why closing costs are increasing, who is benefiting, and how costs for borrowers
Continue Reading CFPB Launches Public Inquiry into Rising Mortgage Closing Costs and ‘Junk Fees’
The FTC recently took action against bill payment company Doxo and its co-founders, accusing them of engaging in deceptive “junk fee” practices that harmed consumers. The FTC’s complaint alleges that Doxo used misleading search ads and deceptive designs to conceal millions of dollars in “junk fees.”
Continue Reading FTC Takes Action Against Doxo, Citing Junk Fees
On May 8, 2024, the California Attorney General released a list of frequently asked questions (FAQs) to help businesses comply with SB 478, California’s soon-to-be effective “Hidden Fees Statute,”
Continue Reading California AG Publishes FAQs on California’s ‘Junk Fee’ Law
On April 24, 2024, the CFPB unveiled its latest edition of Supervisory Highlights, shedding light on its ongoing battle against what it deems as “junk fees” imposed by mortgage servicers.
Continue Reading CFPB Releases Report Highlighting Junk Fees in Mortgage Servicing
On May 17, 2024, the CFPB announced it will issue an interim final rule to extend the compliance deadlines for its Small Business Lending Rule. When it takes effect, the
Continue Reading CFPB Announces New Compliance Deadlines for Small Business Lending Rule
On May 16, 2024, the U.S. Supreme Court held 7-2 in Consumer Financial Protection Bureau v. Community Financial Services Association of America (CFSA) (Docket No. 22-448) that the CFPB’s funding
Continue Reading Supreme Court Holds That CFPB’s Funding Is Constitutional, Clearing Way for Rulemaking Agenda