Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Monday, March 25, 2013

CFPB Revises Credit Card Fee Rule

The CFPB on Friday issued a final rule stating that the 2009 Credit Card Act's limits on fees apply only during the first year after an account is opened.

The rule reverses a previous Federal Reserve interpretation that stated that the law's provisions -- which limit fees a card issuer can charge to 25% of the account's credit limit when first opened -- also applied to fees charged prior to account opening.

A card issuer had challenged that interpretation, and a federal court subsequently blocked that portion of the rule from taking effect.

Read more.

No comments:

Post a Comment

Please read our comment policy before making a comment.