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USA - April 23 2013
On April 19, 2013, the Consumer Financial Protection Bureau ("CFPB") announced it was making a determination to preempt a provision of Tennessee…
USA - March 12 2013
Despite numerous predictions of quick and easy passage, Congress finally passed and President Obama signed into law an amendment to the Federal…
USA - December 10 2012
On October 1, 2012, the CFPB brought its third major enforcement action against three American Express subsidiaries (“American Express”), requiring American Express to return $85 million to customers and pay approximately $14 million to the CFPB’s civil money penalty fund, with another $14 million in penalties to other regulators.
USA - October 19 2012
On October 17, 2012, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule (“Proposed Rule”) to amend the Truth in Lending Act’s (“TILA”) ability-to-pay requirements, as added by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (“CARD Act”) and implemented by Regulation Z.
USA - August 24 2012
On August 21, 2012, the Consumer Financial Protection Bureau (“CFPB”) published a notice of intent to make a preemption determination on whether provisions of abandoned property laws in Maine and Tennessee relating to gift cards should be preempted by the federal Electronic Fund Transfer Act (“EFTA”), as implemented by Regulation E (“Notice”).
