Alan S. Kaplinsky

Alan S. Kaplinsky

Ballard Spahr LLP

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Defense Department Dramatically Expands Scope of Military Lending Act

The Department of Defense (DoD) dramatically expanded the scope of the Military Lending Act (MLA) on July 22, 2015, publishing its Final Rule amending the MLA’s implementing regulation. MLA coverage was previously limited to...more

7/28/2015 - Automotive Loans CFPB Consumer Lenders Credit Unions DOD Financial Services Authority Higher Education Act Lenders Military Lending Act Military Service Members Payday Loans Regulation Z Title IV

Meredith Fuchs named today as Acting Deputy Director of the CFPB

Meredith Fuchs, the General Counsel of the CFPB, has been named today by Director Cordray to be the Acting Deputy Director of the CFPB effective August 1, 2015. The CFPB previously announced that the existing Deputy Director...more

7/23/2015 - Administrative Appointments CFPB Richard Cordray

Treasury Department Seeks Information on Online Marketplace Lending

The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more

7/21/2015 - CFPB Dodd-Frank Financial Services Industry Lending Loans Online Marketplace Lending Popular Request For Information U.S. Treasury

Trade groups comment on CFPB final arbitration study results

The American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable (Associations) have filed a joint letter commenting on the final results of the CFPB’s arbitration study released in...more

7/15/2015 - Arbitration CFPB Dodd-Frank Trade Associations

New empirical study of AAA arbitrations is a study in contradictions

A new empirical study of approximately 5,000 American Arbitration Association (AAA) consumer arbitrations conducted between 2009 and 2013 purports to find a “repeat player” effect favoring companies that previous researchers,...more

6/23/2015 - American Arbitration Association Arbitration CFPB Class Action

FTC Follows in CFPB Footsteps with GLBA Privacy Notices

The Federal Trade Commission (FTC) recently proposed amendments to its Gramm-Leach-Bliley Act (GLBA) rules requiring motor vehicle dealers to send their customers an annual privacy notice. The amendments would allow motor...more

6/23/2015 - Automotive Industry Car Dealerships CFPB Disclosure Requirements FTC Gramm-Leach-Blilely Act Notice Requirements Privacy Policy Proposed Amendments Rulemaking Process Websites

CFPB Finalizes Rule to Supervise Nonbank Auto Finance Companies, Releases Auto Finance Examination Procedures for Banks, Nonbanks

The Consumer Financial Protection Bureau has issued a final rule allowing it to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Relatedly, it adopted simultaneously a...more

6/12/2015 - Auto Lease Automotive Industry Automotive Loans Car Dealerships CFPB Consumer Financial Products Consumer Lenders Final Rules Market Participants Nonbank Firms

CFPB finalizes rule to supervise nonbank auto finance companies and releases auto finance examination procedures for banks and...

The CFPB issued a final rule on June 10, 2015 allowing it to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Relatedly, it adopted simultaneously a separate rule...more

6/12/2015 - Auto Lease Automotive Industry Automotive Loans CFPB Consumer Financial Products Consumer Lenders Dodd-Frank Final Rules Nonbank Firms Supervision

State AG – Credit Bureaus Settlement: What Furnishers Need to Know - More than 30 state attorneys general reached a settlement...

Last week, Ohio Attorney General Mike DeWine issued a press release announcing the results of a multi-state investigation into the three national credit reporting agencies (CRAs) - Equifax Information Services LLC, Experian...more

5/29/2015 - CFPB Credit Reporting Agencies Credit Reports Debt Buyers Debt Collection Equifax Experian FCRA TransUnion

The CFPB Announces Final Diversity Standards under Dodd-Frank Section 342 Are Completed

On April 29, 2015, the Office of Minority and Women Inclusion (OMWI) of the Consumer Financial Protection Bureau (CFPB or Bureau) released its third Annual Report for 2014, as mandated by Section 342(e) of the Dodd-Frank Act...more

5/6/2015 - CFPB Diversity Dodd-Frank Federal Contractors OMWI

CFPB speaks (again) at PLI’s Annual Consumer Financial Services Institute

Key members of the CFPB’s enforcement, regulatory and supervision offices spoke yesterday at PLI’s 20th Annual Consumer Financial Services Institute in Chicago. As was the case during the New York City version which took...more

4/29/2015 - Arbitration CFPB Dodd-Frank Nonbank Firms Professional Conferences Rulemaking Process SBREFA Whistleblower Protection Policies

Another payday loan study finds affordability and rollover limits do not benefit borrowers

We recently wrote about three studies that cast serious doubt on the benefit to payday loan borrowers of an ability-to-repay requirement, a payment-to-income (PTI) ratio ceiling, and rollover limits, three potential payday...more

3/26/2015 - CFPB Consumer Financial Products Payday Loans

Sovern v. Kaplinsky

In its study of consumer arbitration dated March 10th, the CFPB concluded that relatively few consumer arbitrations have been filed. In a recent Consumer Law & Policy blog, Professor Jeff Sovern states that he is “skeptical”...more

3/24/2015 - Arbitration CFPB Consumer Complaint System Consumer Financial Products

CFPB adopts plan to publicly disclose consumer complaint narratives

The CFPB has adopted its controversial proposal to publicly disclose consumer complaint narratives in its Consumer Complaint Database. Its plans for disclosing the narratives are set forth in a final policy statement....more

3/20/2015 - CFPB Consumer Complaint System Consumer Financial Products

CFPB’s Claims under CFPA Survive Legal Challenges, but TILA Claim Is Time-Barred

In a civil action brought by the Consumer Financial Protection Bureau involving student loans, an Indiana federal court recently granted in part and denied in part a motion to dismiss by ITT Educational Services, Inc. The...more

3/20/2015 - CFPB First Impression For Profit Education Itt Educational Services Statute of Limitations Student Loans TILA

CFPB and FTC reauthorize memorandum of understanding for an additional three years

Taking its inspiration from Elvis Costello’s song lyrics, “peace, love and understanding” is how the FTC describes its “cooperative relationship” with the CFPB in a blog post about the reauthorization of the Memorandum of...more

3/16/2015 - CFPB Data-Sharing Enforcement FTC

FTC Issues 2014 Complaints Report

The Federal Trade Commission received more than 2.5 million consumer complaints in 2014, according to its newly released Consumer Sentinel Network Data Book. The annual report provides national and state-by-state data on...more

3/13/2015 - Annual Reports CFPB Consumer Complaint System FTC

CFPB Releases Final Arbitration Study Results

The Consumer Financial Protection Bureau has released final results of its study of consumer arbitration as mandated by Section 1028 of the Dodd-Frank Act. Section 1028 provides that the CFPB, “by regulation, may prohibit or...more

3/10/2015 - Arbitration CFPB Consumer Financial Products Dodd-Frank

Another study raises questions about possible CFPB payday loan limits

We recently wrote about two studies, one by Professor Ronald Mann and the other by Professor Jennifer Lewis Priestley, that cast serious doubt on the benefit to payday loan borrowers of an ability-to-repay requirement and...more

2/26/2015 - Ability-to-Repay CFPB Market Research Payday Loans

CFPB to hold field hearing on arbitration

The CFPB has announced that on Tuesday, March 10, 2015, it will hold a field hearing in Newark, N.J. on arbitration. The hearing will feature remarks from Director Cordray, as well as testimony from consumer groups, industry...more

2/24/2015 - CFPB

Studies question value of expected CFPB payday loan limits

The CFPB’s payday loan rulemaking was the subject of a NY Times article this past Sunday which has received considerable attention. According to the article, the CFPB will “soon release” its proposal which is expected to...more

2/11/2015 - Ability-to-Repay CFPB Payday Loans Rulemaking Process

Medical debt collection remains in the crosshairs of the CFPB

The next meeting of the CFPB’s Consumer Advisory Board will take place on February 19 in Washington, DC. The focus of the meeting will be to “discuss trends and themes related to consumer and financial well-being and medical...more

2/5/2015 - CFPB Debt Medical Debt Public Meetings

Waiting for the CFPB’s arbitration study

“Waiting for the CFPB’s arbitration study” isn’t the title of a new play but it does describe the study’s status as we enter the final hours of 2014. Since the CFPB sent letters to payday lenders in August 2014...more

12/30/2014 - Arbitration CFPB Consumer Lenders Loan Agreements Payday Loans

CFPB soliciting suggestions for its amicus brief program

The Consumer Law & Policy Blog has reproduced a copy of a letter sent yesterday by the CFPB seeking suggested cases for the CFPB’s amicus brief program. ...more

12/19/2014 - CFPB Consumer Financial Products SCOTUS

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