New Twists in Suit Over CFPB's $8 Late Fee Favor Credit Card Industry
Chris Willis, the co-leader of Troutman Pepper's Consumer Financial Services Regulatory Practice Group, was quoted in the April 11, 2024 American Banker article, " New Twists in Suit Over CFPB's $8 Late Fee Favor Credit Card Industry."
"The 5th Circuit has taken control and will issue a preliminary injunction," said Christopher Willis, a partner at Troutman Pepper, who is not involved in the case.
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"It's not a sure thing that the [$8 late fee] rule will be permanently stayed after the CFSA case shakes out in the Supreme Court, but it will likely be temporarily stayed," Willis said.