The CFPB’s Inquiry Into “Junk Fees”: What It Means For Consumer Financial Services Providers

The Consumer Financial Protection Bureau (CFPB)’s recently-issued request for information (RFI) takes aim at what the CFPB labels “excessive and exploitative” fees charged by consumer financial services providers. The RFI could portend greater scrutiny of ancillary fees by the CFPB in examinations, possible enforcement actions targeting fees, and new regulatory proposals. By shining a spotlight on ancillary fees, the RFI also increases the likelihood that state regulators, attorneys general, and plaintiffs’ lawyers will pay greater attention as well. 

Join us as we discuss:

• The types of fees that are targeted in the RFI
• Issues the CFPB inquires about in the RFI
• Sources of the CFPB’s authority to address fees it considers “excessive or exploitative”
• Possible short-term and long-term actions the CFPB could take to address “excessive or exploitative” fees
• Fees that are current targets of enforcement actions or private lawsuits
• Steps providers can take to prepare for greater scrutiny of fees and possible legal challenges

This program is open to Ballard Spahr clients and prospective clients. There is no cost to attend. This program is not eligible for CLE credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact questions@ballardspahr.com.