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,” a law intended to address so-called “junk fees” by prohibiting “drip pricing.”
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 CFPB’s Small Business Lending Rule will implement Section 1071 of the Dodd-Frank Act by requiring covered financial institutions to collect and submit data regarding their
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 structure is constitutional. With the Court’s decision, uncertainty over the CFPB’s rulemaking authority tied to the constitutionality of the CFPB’s funding has been removed, clearing