On July 11, 2024, the CFPB filed Respondent’s Motion for the Immediate Issuance of the Mandate. In the motion, the CFPB states that they do not plan to seek a rehearing before the same Fifth Circuit or En Banc and requests the Fifth Circuit to issue its mandate forthwith to allow the District Court to entertain further proceedings in the case.… Continue Reading
Credit Cards
Judge Pittman States that District Court Lacks Jurisdiction and Strikes the CFPB’s Notice of Supplemental Authority in Support of the Motion to Transfer Venue under Section 1406(a) and Motion and Brief to Dissolve the Preliminary Injunction in the Credit Card Late Fee Lawsuit
By John L. Culhane, Jr., Alan S. Kaplinsky & Ballard CFS Group on
On July 8, 2024, in the lawsuit challenging the CFPB’s credit card late fee rule (Rule), the CFPB filed a notice of supplemental authority in support of their motion to dismiss or transfer the case, a motion to dissolve the preliminary injunction, and a brief to support their motion.
On July 10, 2024, without addressing the merits of the CFPB’s motions, Judge Pittman issued an order to the Clerk to “STRIKE and UNFILE” the above mentioned filings from the docket due to the district court’s lack of jurisdiction until after the Fifth Circuit issues its mandate.… Continue Reading
CFPB Issues 2023 Annual Fair Lending Report
On June 26, 2024, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) released its annual Fair Lending Report (the “Report”) for the calendar year 2023. The reporting period ran through December 31, 2023, so any subsequent fair lending developments are not included.
The first section of the Report covers the CFPB’s fair lending enforcement and supervision activities in 2023.… Continue Reading
Colorado provides some (but not enough) guidance on new general-purpose credit card carve-out
Posted in Credit Cards, State Regulation
In the same 2023 bill (House Bill 23-1229) that included Colorado’s DIDMCA opt-out**, Colorado adopted a statute excepting certain “general-purpose credit cards”, as defined, from the state’s limitations on finance charges and fees applicable to consumer transactions, effective July 1, 2024. However, ambiguities in the definition of “general-purpose credit card” have perplexed many in the industry.… Continue Reading
Fifth Circuit (again) rejects transfer of credit card late fee case to D.C.
On June 19, 2024, the Fifth Circuit dissolved the district court’s order transferring the case challenging the CFPB’s credit card late fee rule. In granting the writ of mandamus filed by the plaintiff trade associations challenging the rule, the three-judge panel rejected Judge Mark Pittman’s second order to transfer the case to D.C.… Continue Reading
CFPB responds to plaintiffs’ mandamus petition in Fifth Circuit seeking to block second transfer to D.D.C. of lawsuit challenging credit card late fee rule
By Alan S. Kaplinsky on
If this blog post gives our readers a feeling of déjà vu, there’s a good reason—the latest developments in the lawsuit challenging the CFPB’s final credit card late fee rule (Rule) are a rerun of earlier developments in the case. In response to an emergency petition for writ of mandamus and administrative stay of transfer filed by the plaintiffs in the lawsuit, the Fifth Circuit stayed the latest district court order transferring the case once again to D.D.C. … Continue Reading
Transfer Redux: Once again, CFPB Late Fee litigation transferred from Texas to DC, transfer challenged in Fifth Circuit
In a replay of earlier events, in response to an emergency petition for writ of mandamus and administrative stay of transfer filed by the plaintiffs in the lawsuit challenging the legality of the CFPB’s credit card late fee rule, the Fifth Circuit Court of Appeals on May 29, stayed a District Court order that would have transferred the case to the District of Columbia.… Continue Reading
Fifth Circuit relinquishes jurisdiction to Federal District Court Judge Pittman in credit card late fee rule case
(As a refresher, if you forgot where things stood the last time you read one of our blogs related to the CFPB credit card late fee rule litigation, click here.)
On Friday May 24, in response to the CFPB’s motion requesting the Fifth Circuit to accelerate the issuance of its mandate from July 9, 2024 with respect to its earlier dismissal of the plaintiffs’ appeal, the Fifth Circuit ordered that the mandate be issued “forthwith.”… Continue Reading
More twists and turns in industry lawsuit challenging CFPB credit card late fee rule
By Alan S. Kaplinsky on
After bouncing from the Texas federal district court to the D.C. federal district court to the Fifth Circuit and back again to the Texas federal district court, the industry lawsuit challenging the CFPB’s credit card late fee rule (Rule) is poised for another round of possible twists and turns in the wake of the U.S.… Continue Reading
Texas federal district court asks parties to chart next steps in case challenging CFPB credit card late fee rule
By Alan S. Kaplinsky on
Yesterday, the Texas federal district court hearing the industry lawsuit challenging the CFPB’s final credit card late fee rule (Rule) issued the following unusual order:
On March 10, 2024, this Court granted Plaintiffs’ Motion for Preliminary Injunction. The Court therefore has questions concerning the live causes of actions in this case and what next steps are appropriate to move the case along.… Continue Reading