CFPB asks Texas court to vacate credit card late fee rule

CFPB asks Texas court to vacate credit card late fee rule

The Consumer Financial Protection Bureau under the Trump administration has agreed to a settlement with bank trade groups by asking a court to drop the credit card late fee rule with prejudice.

Financial Services Committee Republicans call on CFPB to withdraw rules, guidance

Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules. In addition, the GOP members are calling for the CFPB to withdraw guidance documents, circulars, interpretive rules, and advisory opinions that did not go through the comment period required under the Administrative Procedure Act.... Con…