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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...

$7.5 Billion Credit-Card-Fee Settlement Receives Approval

NEW YORK - (Mealey's) A federal judge in New York on Nov. 9 granted preliminary approval to the $7.25 billion class action settlement between merchants and Visa, MasterCard and a large number of banks that the proposed class alleges fixed the prices of interchange fees paid by merchants when...

Chase to Pay $389M to Settle Credit Card Fees Allegations

WASHINGTON, D.C. — (Mealey’s) JPMorgan Chase & Co. (Chase) on Sept. 19 agreed to pay $80 million in fines to settle allegations by the Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC) that it charged customers additional fees for credit card...