Last week the Consumer Financial Protection Bureau (“CFPB”) issued its Fall 2022 Rulemaking Agenda (“Fall Agenda”). The Fall Agenda is significantly longer than the Spring 2022 Rulemaking Agenda and includes several items not previously present. In addition to 3 new items in the pre-rule stage, the Fall Agenda contains 3 new items in the proposed rule stage. Some of these items previously appeared on older Rulemaking Agendas or have been the focus of more recent activity at the CFPB. For example, while overdraft fees were not on the Spring 2022 Rulemaking Agenda, they previously appeared on an agenda in 2017.
Similarly, while credit card penalty fees are new to the Fall Agenda, the CFPB issued an Advance Notice of Proposed Rulemaking on this topic in June of 2022. Comments on the credit card ANPR were due in July 2022, and it appears that the CFPB is moving forward with rulemaking on this topic in 2023.
There are also a few new items on the Fall Agenda. The Fall Agenda is available at this link.
Additional Links: