The Credit Card Accountability Act

by Diane Baker The Credit Card Accountability Responsibility and Disclosure Act of 2009 (Pub. L. 111-24, 123 Stat. 1734) contains extensive statutory changes in card protections for consumers. The Act is intended to help protect consumers from abusive fees, penalties, interest rate increases, and...

Federal Court Blocks Reg. Z 25% Limit on Pre-Account Opening Fees

by the Consumer Financial Services Group The U.S. District Court for the District of South Dakota has issued a preliminary injunction postponing the October 1, 2011, effective date of the Federal Reserve Board's 2011 Regulation Z (Truth in Lending) revision that includes, in the limit on total...

Williams Mullen: CFPB Issues Final Rules on Loan Originator Compensation, as Required by Dodd-Frank

by Edmund D. Harllee On Friday, February 15, the Consumer Financial Protection Bureau (the "Bureau") published final rules (with official interpretations) in the Federal Register to amend its Regulation Z (Truth in Lending) to implement requirements and restrictions concerning loan originator...