News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Credit Ratings

Sheppard Mullin Richter & Hampton LLP

Allegedly Deceptive Credit Repair Scheme Settles with FTC for $12 Million

On August 7, the CFPB issued a report and a consumer advisory highlighting predatory practices in solar lending. On the same day, the FTC released a blog post emphasizing similar concerns....more

Goodwin

SEC Proposes Rules to Include Certain Significant Market Participants as “Dealers” or “Government Securities Dealers”

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed rules to include certain significant market participants as “dealers” or “government securities dealers” to essentially eliminate the trader exclusion...more

Ballard Spahr LLP

New Report Finds Debt Collection Activities Increases Access to Credit, Particularly for Consumers with Poor Credit

Ballard Spahr LLP on

In recent remarks, CFPB Director Richard Cordray noted, albeit passingly, the significant role debt collection activities play in the healthy maintenance of consumer credit markets. “Responsible debt collectors that do their...more

WilmerHale

CFPB Insights On Alternative Data Use In Credit Scoring

WilmerHale on

The growing utilization of alternative data in credit decisions and scoring models continues to attract the attention of regulators. Although clear and practical guidance from regulators remains elusive, regulator...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Loyal Starwood pointers have been waiting anxiously to hear what the hotel brand’s merger with Marriott will mean for their coveted reward system. They’ll have to wait a bit longer, but here are a lot of answers to other...more

Ballard Spahr LLP

CFPB to Compile List of Companies Providing Free Credit Scores

Ballard Spahr LLP on

On October 5th, the CFPB published a notice announcing the CFPB Office of Financial Education’s intent to compile a list of companies offering existing customers free access to their credit score.  The CFPB’s stated intent in...more

Ballard Spahr LLP

FOIA Lawsuit Filed Challenging CFPB Research Methodology

Ballard Spahr LLP on

The law firm Covington & Burling LLP has filed a Freedom of Information Act (FOIA) lawsuit against the CFPB in Washington, D.C. federal district court seeking  information relating to the CFPB’s report on, “Consumer Voices on...more

Stinson - Corporate & Securities Law Blog

CFPB Takes Action Against PayPal for Allegedly Signing Up Consumers for Unwanted Online Credit

The CFPB filed a complaint and proposed consent order in federal court against PayPal, Inc. The CFPB alleges PayPal illegally signed up consumers for its online credit product, PayPal Credit, formerly known as Bill Me...more

Ballard Spahr LLP

CFPB issues report on how medical debt impacts credit scores

Ballard Spahr LLP on

According to a report issued yesterday by the CFPB entitled “Data point: Medical debt and credit scores,” credit scoring models may be overly penalizing consumers with medical debts that go into collection by producing credit...more

Ballard Spahr LLP

CFPB takes steps to protect foster care youth from credit reporting problems

Ballard Spahr LLP on

To address concerns about the vulnerability of foster care children to credit reporting problems, the CFPB has published three action letter templates for child welfare caseworkers to send to credit bureaus if they find...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - April 29, 2013

In This Issue: Financial Industry Developments: CFPB Proposed Clarifications on Qualified Mortgage Rules; SEC Credit Ratings Roundtable; FDIC Proposed Guidance on Deposit Advance Products; Rating Agency Developments; RMBS...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review - January 7, 2013

In This Issue: *Financial Industry Developments - OCC Guidance on Transition Periods under Section 716 of the Dodd-Frank Act - CFTC Reporting of Swap Transactions and Swap Dealer Registration - Department...more

Morrison & Foerster LLP

Dodd-Frank Implementation: Navigating the Road Ahead

Morrison & Foerster LLP on

Table of Contents: Introduction; Financial Stability Reform; Resolution Planning; Agencies and Agency Oversight Reform; Securitization Reform; Derivatives Regulation; Investor Protection Reform; Credit Rating Agency...more

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