Department of Commerce Updates: The Minnesota Credit Union Network recently met with Director of Credit Unions, Aeton de Long-Hersh, and he noted that the following remain examination priorities for the Department.
CFPB Late Fees Rule Halted: On May 10, the U.S. District Court of North Texas enjoined the CFPB’s rule reducing the safe harbor amount for credit card late fees from $32 to $8 by issuing an order for preliminary injunction. DEA Cannabis Reclassification: On April 30, the U.S. Department of Justice’s Drug Enforcement Administration (DEA) announced it will proceed with reclassifying cannabis from a Class I to a Class III drug under the Controlled Substances Act (CSA). Comments are closed.
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February 2025
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