CFPB data spotlight targets credit card cash advance fees related to sports betting
By EsqSocial Corporation 27/12/24
On December 16, the CFPB released a data spotlight examining the potential link between a rise in cash advance fees charged for credit card transactions and the legalization and expansion of sports betting in 38 states. The report explained that many prominent credit card issuers categorize online sports betting transactions as cash advances, leading to consumers being charged fees and accruing interest pursuant to their cardholder agreements....
By: Orrick, Herrington & Sutcliffe LLP