CFPB Extends Comment Period for RFI Regarding Credit Card Late Fees and Late Payments

The CFPB extended the comment period on a Request for Information ("RFI") on (i) credit card late fees and late payments, and (ii) card issuers' revenue and expenses. The comment period for the RFI was extended from July 22, 2022 to August 1, 2022.

As previously covered, the CFPB issued the RFI seeking input on certain provisions related to credit card late fees pursuant to the Credit Card Accountability Responsibility and Disclosure Act of 2009 and Regulation Z ("Truth in Lending Act").