A Look At CFPB, State Regulator Crackdown On 'Junk Fees

1 min

On July 28, 2022, Alex Megaris, Jonathan Pompan, and Connor Webb published “A Look At CFPB, State Regulator Crackdown On 'Junk Fees'” in Law360. The following is an excerpt:

Fees are an integral aspect of any consumer financial company's businesses and, when properly charged and disclosed, they help ensure the availability of financial and related services to both consumers and other companies. There is, however, a growing suspicion among financial regulators that some fees paid by consumers take advantage of vulnerable consumers or hide the true cost of the service and thus violate applicable federal and state consumer protection laws.

Click here to access the article.