The SEC was sanctioned for presenting false and misleading evidence in obtaining a temporary restraining order and asset freeze against a crypto firm. Judge Robert J. Shelby delivered the ruling, calling the SEC's actions toward the crypto firm a "gross abuse of power."
News & Insights
The Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association and two Texas business groups challenged the CFPB on the recently adopted final rule restricting credit card penalty fees.
The Consumer Financial Protection Bureau issued a final rule to restrict credit card late fees, which marks the latest expansion of the Biden Administration’s "junk fee" initiative.
The CFPB proposed a rule to prohibit covered financial institutions from charging fees, such as nonsufficient funds fees, when consumers initiate payment transactions that are instantaneously declined.
In yesterday's newsletter, we identified two CFTC Advisories as newly updated guidance on cooperation that can affect civil monetary penalties in enforcement actions. The updates are current, but they are not new.