I have the chatbox bound to the X button on my controller, pressing X will instantly open the chatbox. Previously, pressing X again would close the chatbox. However this no longer works. You must press one of the menu buttons (Y or B) to close the chatbox.

This creates an issue where if you open the chatbox while the main menu is open, you won't be able to close the chatbox without also closing the main menu or vice versa.