The Consumer Financial Protection Bureau has finalized revisions to its remittance transfers rule and set October 28, 2013, as the rule’s new effective date. While not entirely eliminating the requirement for remittance...more
5/8/2013
- CFPB Disclosure Requirements Remittance Transfer Rule
Earlier today, the CFPB released a white paper reporting on its study of 15,000,000 storefront payday loans and 100,000 accounts eligible for deposit advances (of which approximately 15% involved a deposit advance during the...more
4/25/2013
- CFPB Deposit Advances FDIC OCC Payday Loans
Normally we do not post about private conversations we have with CFPB staff. However, I have received CFPB staff approval to report on a few conversations I had last week concerning the CFPB’s payday lending studies....more
4/10/2013
- CFPB Data Use Policies Payday Loans
The Consumer Financial Protection Bureau has expanded its public Consumer Complaint Database to include complaints about mortgages, bank deposit products and services, student loans, and other consumer loans (which category...more
4/1/2013
- CFPB Consumer Complaint System Loans Mortgages Student Loans
As previously reported, the Pew Charitable Trusts (“Pew”) released a payday lending report last month (the “Report”), the same day that CFPB Director Cordray made some harsh remarks about payday loan “debt traps” in a speech...more
3/5/2013
- CFPB Payday Loans Richard Cordray
In his recent post, Alan Kaplinsky rightly warned that recent remarks by Director Cordray strongly imply that payday and other short-term loan products may be in “the CFPB’s line of fire.” What bothers me is that, to my...more
3/1/2013
- Loans Payday Loans Richard Cordray
The Federal Financial Institutions Examination Council (FFIEC) is seeking feedback on proposed guidance to help financial institutions manage the risks of interacting with consumers through social media....more
1/30/2013
- FFIEC Risk Management Social Media
Lawyers whose principal business is mortgage foreclosure or who regularly handle mortgage foreclosures are “debt collectors” subject to the Fair Debt Collection Practices Act, the U.S. Court of Appeals for the Sixth Circuit...more
1/24/2013
- CFPB Debt Collectors FDCPA Foreclosure Mortgages
The Federal Trade Commission recently announced that it entered into a settlement with Epic Marketplace, Inc., (Epic) an online advertising company, of charges that its "history sniffing" practices violated Section 5 of the...more
12/13/2012
- Behavioral Advertising Browser History Sniffing FTC
In a bulletin issued today, the CFPB announced that, in December, it expects to issue a proposal to make changes to the remittance transfer rule and extend the rule’s effective date until 90 days after the proposal is...more
11/28/2012
- CFPB Remittance Transfer Rule
