The Committee on Codes of Conduct of the Judicial Conference of the United States (Committee) has unanimously concluded that Fifth Circuit Judge Willett is not required to recuse in the trade group plaintiffs’ appeal in their lawsuit challenging the CFPB’s final credit card late fee rule (Rule).

Last Friday, pursuant to a directive issued by the Clerk of the Fifth Circuit, the trade group plaintiffs and the CFPB filed letter briefs with the Fifth Circuit regarding whether an ownership interest in a nonparty large credit card issuer would be substantially affected by the outcome of the case. … Continue Reading

Last Wednesday, the U.S. District Court for the District of Columbia terminated on its docket the case challenging the CFPB’s final credit card late fee rule (Rule) which had been transferred to D.D.C. by the Texas federal district court.  The termination occurred after the Texas court entered an order reopening the case and providing notice to D.D.C.… Continue Reading

Yesterday, the Texas federal district court entered an order reopening the case challenging the CFPB’s final credit card late fee rule (Rule) which it had transferred to the U.S. District Court for the District of Columbia and providing notice to the D.C. court that “the transfer was without jurisdiction and should be disregarded.”… Continue Reading

Last Friday, a divided panel of the U.S. Court of Appeals for the Fifth Circuit vacated the district court’s order transferring the case challenging the CFPB’s final credit card late fee rule (Rule) to the U.S. District Court for the District of Columbia.  The Fifth Circuit also issued a writ of mandamus directing the district court “to reopen the case and give notice to D.D.C.… Continue Reading

The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’ complaints and companies’ responses in order to glean information about the types of challenges consumers are experiencing with financial products and services.… Continue Reading

The U.S. Court of Appeals has extended until 5 p.m. CT tomorrow its administrative stay of the district court’s order transferring the case to the U.S. District Court for the District of Columbia.  This is the Fifth Circuit’s second extension of its stay order, with the first extension having expired at 5 p.m.… Continue Reading

Last week ended with an intense flurry of activity in the lawsuit challenging the CFPB’s final credit card late fee rule (Rule).  The flurry followed the plaintiffs’ March 25 filing of a Notice of Appeal after the district court denied their motion for expedited consideration of their preliminary injunction motion.  In their Notice of Appeal, the plaintiffs assert that the denial of their motion for expedited consideration effectively denied their request for meaningful preliminary injunctive relief.… Continue Reading

On March 26, 2024, the plaintiffs in the lawsuit challenging the CFPB’s final credit card late fee rule (“Final Rule”) filed a Notice Regarding Their Emergency Motion for Injunction Pending Appeal and Administrative Stay in the Fifth Circuit. Plaintiffs, who noticed their interlocutory appeal of the federal district court’s “effective denial” of their motion for a preliminary injunction on Tuesday, asked the appeals court to allow the appeal to continue even though the district court has scheduled an April 2, 2024 hearing on their motion for a preliminary injunction.… Continue Reading

Consumer Financial Protection Bureau (“CFPB”) Director Rohit Chopra shared his insights at Consumer Bankers Association Live industry conference in Washington D.C. Reuters reported that Chopra told sideline reporters, “We are going to be looking into the credit card rewards market due to an increase in consumer complaints. What the marketing gurus and consultants are telling credit card issuers is that they should focus consumers’ attention on splashy rewards, but then withhold information from them when they’re paying lots of interest and could switch to a lower-rate card, even within the same bank.”… Continue Reading

The Texas federal district court hearing the lawsuit challenging the CFPB’s final credit card late fee rule (Rule) issued an order today setting April 2 as the date for a hearing on the plaintiffs’ motion for a preliminary injunction.  Yesterday, the plaintiffs filed a notice that they are appealing to the Fifth Circuit the Texas federal district court’s “effective denial” of their motion for a preliminary injunction. … Continue Reading