Month: November 2024

California enacted S.B. 1061 to amend and expand the state’s Credit Reporting Agencies Act to incorporate new restrictions and requirements on consumer medical debt reporting. The bill becomes effective on…Read More

The Federal Deposit Insurance Corporation (“FDIC”) announced this week that it is extending the comment period for the proposed rule on Custodial Deposit Accounts with Transactional Features and Prompt Payment of Deposit Insurance to Depositors from the rule’s original December 2, 2024 comment deadline to…Read More

The Consumer Financial Protection Bureau (“CFPB”) recently entered into consent orders with Goldman Sachs Bank and Apple, Inc. over alleged mismanagement of disputes and deceptive marketing related to the Apple Card. The order requires Apple and Goldman to pay over $89 million collectively in civil penalties and redress for issues with the Apple Card. Additionally, Goldman is prohibited from launching a new credit card without a credible compliance plan…Read More

California recently enacted a new law that would prohibit certain banks and credit unions from charging a consumer a nonsufficient funds fee when the consumer’s attempt to initiate a transaction is declined instantaneously or near instantaneously due to nonsufficient funds….Read More

The U.S. Court of Appeals for the Fifth Circuit granted the appellants’ motion to expedite the appeal in the suit brought by trade associations challenging the Consumer Financial Protection Bureau’s (CFPB) Final Rule under Section 1071 of the Dodd-Frank Act, the Small Business Lending Data Collection Rule…Read More