News & Analysis as of

Enforcement Consumer Financial Protection Bureau (CFPB) Banking Sector

Goodwin

CFPB and European Commission Release Report Regarding “Critical” Priority Areas for Consumer Financial Protection Issues

Goodwin on

In April 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Commissioner for Justice and Consumer Protection of the European Commission (European Commission) announced that three meetings had been...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - February 2024 - 3

Editor's Note: The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

Sheppard Mullin Richter & Hampton LLP

Lawsuit Challenges CFPB Reporting Rule for Small Business Lending

On April 26, an association of Texas state banking organizations and a Texas minority depository institution filed a joint complaint against the CFPB in Texas federal court seeking to invalidate a recently finalized agency...more

Perkins Coie

The Consumer Financial Protection Bureau Celebrates 10-Year Anniversary

Perkins Coie on

On July 21, Acting Director Dave Uejio celebrated the 10-year anniversary of the Consumer Financial Protection Bureau (CFPB) by giving prepared remarks highlighting the CFPB’s activities over the past 10 years in enforcement,...more

Womble Bond Dickinson

CFPB Promises “Flexible” Approach to Credit Reporting During Pandemic

Womble Bond Dickinson on

In a policy statement released on April 1, 2020, the Consumer Financial Protection Bureau (“CFPB”) stated that it will take a “flexible supervisory and enforcement approach” during the COVID-19 pandemic....more

ArentFox Schiff

Damages Under Dodd-Frank: Federal Court Awards CFPB $59 Million in Unprecedented Penalties and Restitution Analysis

ArentFox Schiff on

So much to say, so little time. Historically groundbreaking, a federal court in Madison, Wisconsin engaged in the most robust, methodical damages analysis under the Consumer Financial Protection Act, found in Title X of the...more

Nutter McClennen & Fish LLP

Nutter Bank Report, January 2019

New Data Breach Law Requires Free Credit Monitoring for Massachusetts Consumers - Recent amendments to the Massachusetts data security breach law will require any person – including, in relevant part, any bank or any bank...more

Davis Wright Tremaine LLP

The CFPB and the Business of Insurance: An Analysis of the Scope of CFPB’s Authority Over Insurance Sales

In 2014, the Bureau of Consumer financial Protection (CFPB) issued an enforcement order against a bank and its service provider for allegedly misleading sales of insurance. That order was based on the CFPB’s power to prohibit...more

McGuireWoods LLP

CFPB Remains Noncommittal Regarding Restrained Enforcement Period for TILA/RESPA Integrated Disclosures Rule

McGuireWoods LLP on

The TILA/RESPA integrated disclosures (TRID) rule issued by the Consumer Financial Protection Bureau (CFPB) under the Dodd-Frank Wall Street Reform and Consumer Protection Act takes effect on August 1, 2015. ...more

Ballard Spahr LLP

GAO report recommends increased CFPB participation in virtual currency efforts

Ballard Spahr LLP on

In a report issued last week on virtual currencies, the Government Accountability Office recommended increased CFPB participation in interagency efforts related to such currencies. The report, entitled “Virtual...more

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