New York AG Letitia James entered into an Assurance of Discontinuance with national bank Pathward, N.A., f/k/a MetaBank, to resolve an investigation into Pathward’s handling of customer accounts and settle claims that the bank violated New York’s consumer protection laws and Exempt Income Protection Act (EIPA), which prohibits banks from freezing consumer accounts containing protected…

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New York AG Letitia James, along with the Massachusetts and Virginia AGs and the CFPB, obtained an $811 million judgment against Libre by Nexus, Inc., its parent company Nexus Services, Inc., and its principals (collectively, “Libre”), over allegations that Libre violated the Consumer Financial Protection Act and state consumer protection and debt collection laws by…

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11 Republican AGs filed a lawsuit against the Biden administration and the Department of Education (ED) alleging that they exceeded executive and agency authority in implementing the SAVE Plan, which provides student loan borrowers with a swifter path to loan cancellation and lower monthly payments and has already resulted in loan cancellation for over 150,000 borrowers.

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Pennsylvania AG Michelle Henry announced that six additional states have joined a lawsuit against lending company Mariner Finance, LLC, which was first filed by Pennsylvania and five other AGs in 2022. The bipartisan coalition of 12 AGs alleges that Mariner charged consumers for hidden add-on products without disclosing these costs and fees in violation of…

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The CFPB issued a final rule to address late fees charged by “larger card issuers”—credit card issuers that together with their affiliates have one million or more open credit card accounts—to ensure compliance with the Truth in Lending Act’s (TILA) reasonable fee requirements. The final rule adopts a late fee safe harbor threshold of $8,…

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