Federal judge issues injunction against late fee rule

A federal judge last week issued a preliminary injunction against the Consumer Financial Protection Bureau’s proposal to cap most credit card late fees at $8. The May 10 ruling from Northern District of Texas Judge Mark Pittman came four days before the rule was to take effect.

CFPB: Student lending companies ignored payment relief requests

The Consumer Financial Protection Bureau recently filed a $5 million lawsuit against student loan servicers National Collegiate Student Loan Trusts and American Education Services for allegedly ignoring thousands of payment relief requests over six years. 

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