News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Remediation

Bradley Arant Boult Cummings LLP

Fannie Mae Issues Fair Servicing Best Practices Guide

This week, in line with the CFPB’s ever-increasing focus on fair lending, Fannie Mae issued a Fair Servicing Best Practices Guide to promote “servicer awareness of fair servicing best practices.” Taking a big picture...more

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

Jenner & Block on

As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Davis Wright Tremaine LLP

CFPB: Failure to Remediate Non-Compliance May Be Abusive Conduct

In a matter that highlights the importance of comprehensive consumer remediation and exemplifies the Bureau's renewed aggressive enforcement approach, on August 13, 2021, the Consumer Financial Protection Bureau moved for...more

Cozen O'Connor

Priorities And Trends Discussed At This Week’s NAAG Consumer Protection Spring Conference

Cozen O'Connor on

On May 11, 2021, the National Association of Attorneys General (NAAG) held its Spring Consumer Protection Conference virtually with more than 500 attendees. The conference comprised a series of panel discussions with state...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Continues to Expand Its Meaningful Involvement Requirements for Debt Collection Law Firms

The CFPB recently issued its third consent order involving a debt collection law firm and appears to be expanding its interpretation of “meaningful involvement”. The order, which was entered against two related debt...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Consent Orders Serve as a Reminder to Mortgage Industry on Advertising Practices

A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

Carlton Fields

CFPB Continues to Target Add-On Credit Products

Carlton Fields on

The Consumer Financial Protection Bureau (CFPB) has stepped up its enforcement actions alleging deceptive and unfair practices in marketing and billing for add-on credit protection products. Add-on products have been one of...more

Ballard Spahr LLP

CFPB Employee Review Disparities Go Beyond Race

Ballard Spahr LLP on

The American Banker reported this week that the CFPB released an internal report that shows the disparities in employee evaluations on which we previously reported go beyond race. The report showed “statistically significant...more

Morrison & Foerster LLP

CFPB Brings First Enforcement Action Involving Deferred Interest Products, Imposes Novel and Burdensome Application Requirements...

Morrison & Foerster LLP on

Yesterday, the Consumer Financial Protection Bureau (“CFPB”) announced a consent order with GE Capital Retail Bank and its subsidiary CareCredit (collectively “CareCredit”) related to what the CFPB alleges were unfair and...more

Brownstein Hyatt Farber Schreck

CFPB Offers Potential Benefits If You Turn Yourself In, But Make Sure You Understand Your Options

Brownstein Hyatt Farber Schreck’s past Client Alerts have warned that the Consumer Financial Protection Bureau’s reach touches virtually every company that has any interaction with consumers. A recent Bulletin issued by the...more

Morrison & Foerster LLP

How to Be a Good Corporate Citizen CFPB Style

On June 25, 2013, the Consumer Financial Protection Bureau (CFPB) issued Bulletin 2013-06 identifying “responsible business conduct” that may impact the exercise of its “enforcement discretion.” The Bulletin specifies the...more

Stinson - Corporate & Securities Law Blog

CFPB Encourages Self-Policing And Self-Reporting

The CFPB has issued a bulletin encouraging self-policing, self-reporting, remediation, and cooperation....more

Davis Wright Tremaine LLP

“Responsible Conduct” by Enforcement Targets May Justify Favorable Treatment

Earlier this week, the Consumer Financial Protection Bureau (CFPB) issued CFPB Bulletin 2013-06 (the Bulletin), entitled Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation, and Cooperation....more

Ballard Spahr LLP

CFPB issues guidance on “responsible conduct” that can result in enforcement leniency

Ballard Spahr LLP on

A new CFPB Bulletin provides guidance on “responsible conduct” the CFPB will consider in deciding how to exercise its enforcement discretion....more

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