Rep. Andy Ogles, R-Tenn., on August 30, 2024 introduced in the House of Representatives a resolution under the Congressional Review Act (CRA) that would nullify the CFPB’s final nonbank registry rule....more
9/10/2024
/ Congressional Review Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Nonbank Firms ,
Proposed Legislation ,
Registration Requirement ,
Regulatory Agenda ,
SBA Lending Programs ,
Section 1071 ,
Small Business
Our special guest is Brian Johnson, Managing Director of Patomak Global Partners and former CFPB Deputy Director. In Nov. 2023, the CFPB issued a proposed rule to supervise nonbank companies that qualify as larger...more
Yet another unopposed emergency motion for leave to intervene has been filed in the Texas lawsuit challenging the CFPB’s final small business lending rule (Rule). The latest proposed intervenors are XL Funding, LLC d/b/a...more
The Federal Trade Commission (FTC) and the Florida Attorney General (AG) have jointly filed a complaint in a Florida federal court against several companies and their individual owners alleging that the defendants engaged in...more
7/3/2015
/ Computer Fraud and Abuse Act (CFAA) ,
Consumer Lenders ,
Debt-Relief Industry ,
Elder Abuse ,
Enforcement Actions ,
FDUTPA ,
Federal Trade Commission (FTC) ,
Financial Abuse ,
Financial Institutions ,
FTC Act ,
Nonbank Firms ,
Telemarketing
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
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
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
The Department of Defense (DoD) has issued a proposal to revise and significantly expand the coverage of its rule implementing the Military Lending Act (MLA). The proposed revisions would limit interest charged to...more
The Consumer Financial Protection Bureau has issued a proposal to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Comments on the proposal will be due 60 days after the...more
The Consumer Financial Protection Bureau recently finalized a larger participant rule for nonbank international money transfer providers and left it largely unchanged from the rule as originally proposed in January. The new...more
The federal bank regulators recently issued additional guidance on intercompany income tax allocation agreements between holding companies and their depository institution subsidiaries. Intended to clarify the ownership of...more
The Consumer Financial Protection Bureau has issued a final rule allowing it to supervise nonbank servicers of private and federal student loans who qualify as “larger participants” in the student loan servicing market. The...more
The CFPB has adopted its long-awaited final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risks to consumers. The final rule will be effective 30 days after its publication...more
The Consumer Financial Protection Bureau has adopted a final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risk to consumers....more