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Credit Reports FinTech

Ballard Spahr LLP

CFPB alleges dark patterns in suit against fintech peer-to-peer lender

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On May 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) filed suit against an online lending platform, alleging, among other things, the use of dark patterns to induce consumers to pay tips and donations,...more

Hudson Cook, LLP

CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

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In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more

Goodwin

Traps for the Unwary: Using Alternative Credit Data to Expand Credit Access to LMI Individuals and Underrepresented Communities

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Traditional credit underwriting methods, which are generally based on credit reports, have not always successfully captured the full picture of a borrower’s ability to repay. It is estimated that more than 45 million US...more

Jones Day

CFPB Seeks to Expand Regulatory Powers Over Consumer Payment Tech Entities

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On November 7, 2023, the Consumer Financial Protection Bureau ("CFPB") issued a proposed rule that would grant it supervisory authority over major nonbank technology companies in the consumer digital payments space....more

Akerman LLP

Explainer Things: Episode 9

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Fall is finally in the air as temperatures drop (in some parts of the country, at least) and football season is in full swing. We’ve previously avoided writing about football because our Explainer Things cast can’t agree on...more

Goodwin

2022 Year In Review - Consumer Finance

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2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more

Perkins Coie

Fintech Legal Report - December 2022

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New Treasury Report Shows Fintech Industry Requires Additional Oversight To Close Gaps, Prevent Abuses, and Protect Consumers - On November 16, 2022, the U.S. Department of the Treasury (USDT), in consultation with the...more

Perkins Coie

Fintech Legal Report - October 2022 #2

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Consumer Protection Agencies Target Junk Fees and Dark Patterns for Enforcement Action and Rulemaking - The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) are cracking down on the...more

Eversheds Sutherland (US) LLP

Focus on Fintech: The CFPB wants state and federal financial regulators to get behind its enforcement agenda

The CFPB is the primary regulator of consumer financial products and services in the US, but other state and federal regulators also have authority to enforce some federal consumer financial protection laws. The CFPB is now...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 16, 2022)

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Alvaro Bedoya Sworn in as FTC Commissioner Following Senate Confirmation. On May 16, Alvaro Bedoya was sworn in as FTC Commissioner. The U.S. Senate confirmed Bedoya to the FTC’s open Commissioner on May 11. ...more

Goodwin

2021 Year in Review: Consumer Finance

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[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Morgan Lewis - All Things FinReg

CFPB Pans Credit Reporting Agency Consumer Complaint Handling

On January 5, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a report detailing consumer complaint deficiencies by the national credit reporting agencies (NCRAs). Specifically, the CFPB found that, in 2021,...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

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Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

Manatt, Phelps & Phillips, LLP

CFPB Taskforce Issues Report Setting High-Level Agenda and Priorities

The Consumer Financial Protection Bureau (CFPB) released its long-awaited two-volume Taskforce Report on Consumer Financial Law (the Report) as expected last week, following a yearlong effort. While advisory in nature, it is...more

Morrison & Foerster LLP

CFPB Task Force Releases Recommendations For Improving Financial Services Consumer Protection

On January 5, 2021, the Consumer Financial Protection Bureau (CFPB or Bureau) Taskforce on Federal Consumer Financial Law (Task Force) released a report (Report) recommending changes designed to contemporize and strengthen...more

Ballard Spahr LLP

Aggressive FTC enforcement agenda highlighted in Ballard Spahr webinar

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For our webinar last Thursday, “Consumer Protection: What’s Happening at the FTC,” we were joined by special guest speakers Andrew Smith, Director of the FTC’s Bureau of Consumer Protection, and Malini Mithal, Associate...more

Baker Donelson

CFPB's First Project Catalyst Innovation Report Addresses FinTech Regulation

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In October, the CFPB issued its first ever Project Catalyst Innovation Report highlighting "innovation insights" by FinTech companies in multiple areas. The CFPB launched the Project Catalyst initiative in November 2012 with...more

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