News & Analysis as of

Enforcement Consumer Financial Protection Bureau (CFPB) Consumer Financial Products

Hinshaw & Culbertson - Consumer Crossroads

What Does the CFPB’s New Public Registry to Detect Repeat Offenders Mean for Your Business?

On June 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (“the Final Rule”)....more

Sheppard Mullin Richter & Hampton LLP

CFPB Fines and Bans Coding Bootcamp over Deceptive Student Lending Practices

On April 17, the CFPB issued a consent order against a San Francisco-based for-profit coding school and its and CEO, banning it from lending to consumers, after it found that the company inflated its job placement rates to...more

Sheppard Mullin Richter & Hampton LLP

Federal Jury: Trade Association and Real Estate Brokerages Conspired to Inflate Commissions, $1.8B in Damages to Plaintiffs

On October 31, a federal jury in the U.S. District Court for the Western District of Missouri found the defendants, a trade association, which represents residential and commercial real estate industries, and multiple...more

Troutman Pepper

Troutman Pepper Attorneys Update Fair Lending Handbook for the American Association of Bank Directors - The Consumer Finance...

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Please join Troutman Pepper Partners Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of...more

BCLP

CFPB guidance on pay-to-pay fees impacts consumer loan agreements

BCLP on

Consumer debt collectors may not be permitted to charge consumers “convenience fees” for card payments, which the Consumer Financial Protection Board (the “CFPB”) calls “pay-to-pay” fees, unless the underlying loan agreement...more

BakerHostetler

Taking a Lesson from the FTC - Reviews and Gag Clauses Emerge as CFPB Issues

BakerHostetler on

We have talked a lot this year about the Federal Trade Commission’s (FTC) focus on reviews, and so far we have seen cases involving review suppression and incentivized reviews, as well as new guidance about how platforms and...more

WilmerHale

Expectations For CFPB's Fair Lending Agenda Under Biden

WilmerHale on

It is clear just a few weeks into the Biden administration that fair lending and racial equity will return as a central focus of regulators under President Joe Biden. Biden issued a memorandum his first week in office...more

Manatt, Phelps & Phillips, LLP

[Webinar] The Growing Wave of Financial Enforcement: A Look at the CFPB and California’s New DFPI - March 17th, 2:00 pm - 3:00 pm...

With an ever-evolving enforcement regime at the federal and state levels, the financial services industry faces complex regulatory issues. Join Manatt’s team of consumer financial services professionals for a complimentary...more

Wiley Rein LLP

[Webinar] Federal Consumer Protection Priorities in 2021: Reading the Tea Leaves - December 8th, 3:00 pm - 4:00 pm EST

Wiley Rein LLP on

Changes in federal consumer protection priorities in 2021 are afoot. President Trump’s appointees at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) changed course on a range of consumer...more

Womble Bond Dickinson

CFPB Promises “Flexible” Approach to Credit Reporting During Pandemic

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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

BCLP

Consumer Financial Services and Fintech Enforcement Trends in California

BCLP on

Following the departure of former CFPB Director Richard Cordray in 2017, consumer advocates and state attorneys general raised concerns regarding the new hands-off approach by the Trump administration pertaining to consumer...more

Bradley Arant Boult Cummings LLP

Data Modeling Remains Auto Finance Target in CFPB’s Fair Lending Governance

The Consumer Financial Protection Bureau made it clear that it will continue to target auto finance lenders as one of its top supervisory and enforcement priorities in the Fair Lending Report of the Bureau of Consumer...more

Bradley Arant Boult Cummings LLP

Does the New Debt Collection Rule Apply to First-Party Creditors?

Last November, Bradley’s Financial Services Perspectives team predicted that the Consumer Financial Protection Bureau’s (CFPB) then upcoming Notice of Proposed Rulemaking (NPRM) for the Does the New Debt Collection Rule Apply...more

Goodwin

CFPB Report Hints at Possible Debt Collection Focus

Goodwin on

At the end of May 2018, the Consumer Financial Protection Bureau (CFPB) released an analysis of consumer debt collection complaints highlighting several issues that often arise in those complaints. In light of Acting...more

Morrison & Foerster LLP

CFPB Proposes Issuing No-Action Letters: Innovation at Too Much Cost and Uncertainty?

Morrison & Foerster LLP on

On October 10, 2014, the CFPB issued notice of and requested public comment on a proposed policy allowing CFPB staff to issue no-action letters (NALs) for “innovative financial products or services that substantially benefit...more

Bilzin Sumberg

In The Cross-Hairs? Protecting Your Company Against Consumer Financial Protection Bureau Investigations and Investors' Mortgage...

Bilzin Sumberg on

Watch an in-depth webinar presented by Litigation Partner Philip R. Stein, about the Consumer Financial Protection Bureau's attempts to expand its jurisdiction and authority over consumer finance companies and financial...more

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