What if canceling a subscription were as easy as signing up for one? That was the thinking behind the Negative Option Rule — more popularly known as the “click to cancel” regulation, first proposed in 2023. That rule went into effect earlier this year, with enforcement...
A federal judge has thrown out the Consumer Financial Protection Bureau’s (CFPB) late fee cap. The ruling by U.S. District Judge Mark Pittman came after the bureau agreed with opponents that the rule was illegal, Reuters reported Tuesday (April 15). Pittman granted a joint request...
The U.S. Senate voted Thursday (March 27) to repeal the Consumer Financial Protection Bureau’s final rule capping overdraft fees. By a 52-48 vote, the Senate passed the joint resolution introduced by Senate Banking Committee Chairman Tim Scott of South Carolina, according to a roll call...
Visa and Mastercard face regulatory action in the United Kingdom following a payments watchdog’s investigation. The Payment Systems Regulator (PSR) is considering “remedies” for the two companies after uncovering a lack of competition in the card payment market, according to a Thursday (March 6) press...
January 29, 2025
A battle in Illinois over interchange fees could influence other states to decide whether these fees should be reshaped or banned. Banks charge each other interchange fees to cover the processing costs of credit and debit card payments. When a consumer buys goods or services with a card, the merchant gets the remaining amount of […]
December 24, 2024
This year was marked by a steady drumbeat of regulations and rules — and requests from regulators for information and comments from financial services players — touching on everything from...
June 10, 2024
Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and...
May 09, 2024
The laws of physics dictate that for every action, there is a reaction. As Tuesday (May 14) looms, with a new rule from the Consumer Financial Protection Bureau (CFPB) slated to take effect that...
January 13, 2026
President Donald Trump endorsed a bill that aims to lower credit card swipe fees. “Everyone should support great Republican Sen. Roger Marshall’s Credit Card Competition Act in order to stop the out-of-control swipe fee rip-off,” Trump wrote in a Tuesday (Jan. 13) post on Truth Social. Sen. Marshall of Kansas and Sen. Dick Durbin of […]
May 11, 2025
What if canceling a subscription were as easy as signing up for one? That was the thinking behind the Negative Option Rule — more popularly known as the “click to...
April 15, 2025
A federal judge has thrown out the Consumer Financial Protection Bureau’s (CFPB) late fee cap. The ruling by U.S. District Judge Mark Pittman came after the bureau agreed with opponents...
March 27, 2025
The U.S. Senate voted Thursday (March 27) to repeal the Consumer Financial Protection Bureau’s final rule capping overdraft fees. By a 52-48 vote, the Senate passed the joint resolution introduced...