Ronald K. Vaske

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Although the Consumer Financial Protection Bureau under Acting Director Russell Vought has withdrawn from defending a number of Biden-era regulatory initiatives, the Bureau appears poised to revisit one of the most controversial issues in consumer credit regulation—credit card late fees.

According to the Office of Information and Regulatory Affairs (OIRA), the CFPB has submitted for interagency review a Request for Information (RFI) regarding “Credit Card Late Fees and Late Payments.”… Continue Reading

A federal judge, at the request of the FTC, recently ordered Cliq Inc., a payment processing company, and its operators to pay $6.5 million for violating a 2015 federal court order intended to prevent the company from assisting in consumer fraud.

U.S. District Court in Nevada entered the order finding Cliq Inc, formerly known as Cardflex Inc.,… Continue Reading

The Aspen Institute’s Financial Security Program has announced a significant new initiative designed to address what many now view as one of the most pressing consumer protection challenges facing the United States: the explosion of fraud and scams targeting American consumers.

The newly launched Scam Prevention Initiative builds upon the work of the Aspen Institute’s National Task Force on Fraud and Scam Prevention and reflects an increasingly broad consensus that scams can no longer be viewed solely as an issue for consumers or financial institutions to solve on their own.… Continue Reading

On June 2, 2026, Professors Todd Zywicki and Thomas Miller, Jr., together with the Center for Individual Freedom, filed an amicus brief in support of the plaintiff trade associations in National Association of Industrial Bankers, et al. v. Weiser, currently pending before the U.S. Court of Appeals for the Tenth Circuit, sitting en banc.… Continue Reading

The en banc Tenth Circuit continues to receive substantial support for affirming the district court’s decision in National Association of Industrial Bankers v. Weiser, the closely watched case addressing the scope of the opt-out provision in Section 525 of the Depository Institutions Deregulation and Monetary Control Act’s (“DIDMCA”), which empowers a state to opt out of the interest rate provisions in Section 521 of DIDMCA with respect to “loans made in such State.”… Continue Reading

The en banc proceedings in National Association of Industrial Bankers v. Weiser continue to attract significant attention. On June 4, 2026, the attorneys general of Utah and 20 other states filed an amicus brief urging the U.S. Court of Appeals for the Tenth Circuit to affirm the district court’s decision enjoining Colorado’s attempt to utilize its opt out pursuant to Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) as a basis to regulate the interest rates charged to Colorado borrowers by out -of-state state banks.… Continue Reading

On June 4, 2026, the Federal Deposit Insurance Corporation (FDIC) filed an amicus brief in the en banc proceedings pending before the U.S. Court of Appeals for the Tenth Circuit in National Association of Industrial Bankers v. Weiser, strongly supporting the plaintiffs-appellees’ challenge to Colorado’s attempt to apply its usury laws to loans made by out-of-state, state-chartered banks.… Continue Reading

On June 4, 2026, the Office of the Comptroller of the Currency (OCC) filed an amicus brief in the en banc proceedings before the U.S. Court of Appeals for the Tenth Circuit in National Association of Industrial Bankers v. Weiser, urging the court to affirm the district court’s preliminary injunction against Colorado’s opt-out statute and reject Colorado’s attempt to apply its interest-rate restrictions to loans made by out-of-state state-chartered banks.… Continue Reading

On June 4, 2026, the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, America’s Credit Unions, and 52 state bankers associations filed a supplemental amicus brief supporting the plaintiffs in the en banc proceeding pending before the U.S. Court of Appeals for the Tenth Circuit in National Association of Industrial Bankers v.… Continue Reading

The plaintiffs-appellees in National Association of Industrial Bankers v. Weiser have filed their supplemental en banc brief in the Tenth Circuit, urging the full court to reject the panel majority’s interpretation of Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) and affirm the district court’s preliminary injunction against Colorado’s opt-out statute.… Continue Reading