News & Analysis as of

Recordkeeping Requirements Consumer Financial Protection Bureau (CFPB)

Alston & Bird

CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

Alston & Bird on

What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more

Orrick, Herrington & Sutcliffe LLP

Fed seeks to renew TILA, Regulation Z information collection

On June 4, the Fed published a request for comment on a proposal to extend the “Recordkeeping and Disclosure Requirements Associated with CFPB’s Regulation Z” for three years without revision. According to the notice, the...more

Venable LLP

Executive Order to Prevent Access to Americans' Bulk Sensitive Personal Data and Government-Related Data by Countries of Concern

Venable LLP on

On February 28, 2024, the Biden Administration issued Executive Order (EO) 13873, focused on restricting certain transactions involving Americans' personal data, as well as sensitive government data, to specific countries....more

Mintz - Antitrust Viewpoints

SEC Chair Doubles Down on AI Conflict of Interest Rules, Warns Firms Not to “AI-Wash” — AI: The Washington Report

Welcome to this week’s issue of AI: The Washington Report, a joint undertaking of Mintz and its government affairs affiliate, ML Strategies. This issue covers recent statements by US Securities and Exchange Commission...more

Hanzo

Why Marketing Compliance for Financial Services Is A Big Deal

Hanzo on

In today's fiercely competitive business landscape, financial services companies, like their counterparts in other industries, rely on advertising and digital marketing strategies to create brand recognition, promote their...more

Hudson Cook, LLP

Adverse Action Notices - A Compliance Issue That Should Not Be Overlooked

Hudson Cook, LLP on

Adverse action notices, a perennial compliance issue, should not be neglected and, indeed, warrant closer scrutiny. The CFPB has long been interested in adverse action issues....more

Sheppard Mullin Richter & Hampton LLP

CFPB Issues Small Business Lending Rule

Today, the CFPB has issued the small business lending final rule to implement changes to the Equal Credit Opportunity Act made by Section 1071 of the Dodd-Frank Act to require financial institutions to compile data regarding...more

Goodwin

FINRA Provides Update on Social Media Influencers, Customer Acquisition and Related Information Protection

Goodwin on

In February, FINRA provided an update (Update) concerning the targeted exam (Sweep) launched in September 2021 to review firms’ practices concerning customer acquisition through social media channels and the way firms share...more

Holland & Knight LLP

New Rules of the Road: FTC's Proposed Changes to Car, Boat, Motorcycle and RV Sales Practices

Holland & Knight LLP on

The Federal Trade Commission (FTC) has issued a new proposed rule that aims to make the "motor vehicle"-buying process more clear and competitive, and also allow the FTC to recover money when consumers are misled or charged...more

Morgan Lewis

Proposed Trade Regulation Rule on Auto Dealer Sales Practices Could Dramatically Affect Auto Finance

Morgan Lewis on

By a 4-1 vote on June 23, 2022, the US Federal Trade Commission (FTC) issued a notice of proposed rulemaking that is squarely aimed at changing the way dealers interact with customers in the automotive financing process, with...more

Bradley Arant Boult Cummings LLP

The CFPB’s New COVID-19 Procedural Safeguard Rules Pose Significant Compliance Challenges for Mortgage Servicers

Just two short months after the Consumer Financial Protection Bureau announced its COVID-19 mortgage servicing final rule, the effective date of August 31, 2021, is here. As we noted in our detailed breakdown of the final...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

Goodwin on

In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Goodwin

SEC Finalizes Reforms Under Investment Advisers Act

Goodwin on

In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...more

Goodwin

OCC Finalizes “True Lender” Rule

Goodwin on

In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more

Bradley Arant Boult Cummings LLP

A Deeper Dive: The CFPB Short-Term Small- Dollar Lending Rule

Introduction - By now you’ve likely heard that the Consumer Financial Protection Bureau (CFPB) has released a final small-dollar lending rule. The hallmark of the rule is the requirement That lenders make a reasonable...more

Ballard Spahr LLP

CFPB “Can Improve” Recordkeeping and Notifications of Purpose in Civil Investigative Demands, OIG Finds

Ballard Spahr LLP on

On September 20, 2017, the Federal Reserve’s Office of Inspector General (“OIG”) issued a report on the CFPB’s process for issuing Civil Investigative Demands (“CID”). The OIG found that the CFPB “generally complied” with...more

Kelley Drye & Warren LLP

Debt Collection on Deck: CFPB Outlines Proposals Under Consideration to Ramp Up Regulation of Debt Collectors

The CFPB recently released an outline of proposals that it is currently considering to overhaul the debt collection market. The proposals under consideration would significantly expand current regulations governing debt...more

BakerHostetler

Consumer Financial Protection Bureau Announces Proposal to Overhaul the Debt Collection Market at Hearing in California

BakerHostetler on

On July 28, 2016, the Consumer Financial Protection Bureau (“CFPB”) and Director Richard Cordray announced at a field hearing in Sacramento, California the CFPB’s proposals to overhaul the $13.7 billion dollar debt collection...more

Holland & Knight LLP

CFPB Outlines Long-Awaited Debt Collection Reforms

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) released on July 28 new proposals designed to "overhaul" the practices of the debt collection industry. The proposals include sweeping changes to existing regulations, including...more

Burr & Forman

The Best Defense is a Good Strategy: Planning for the Arbitration Rule

Burr & Forman on

On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) held its fourth field hearing on Arbitration and issued a proposed Rule that would prohibit the use of arbitration clauses that block consumers’ participation...more

Troutman Pepper

High-Cost Lending at Risk Under CFPB Proposed Rules

Troutman Pepper on

The proposed rule raises troubling issues regarding the impact on some traditional bank products as well as some marketplace lending products. The Consumer Financial Protection Bureau (CFPB or Bureau) released its...more

Goodwin

Financial Services Weekly News - October 2015 #3

Goodwin on

Regulatory Developments: FINRA Requests Comment on Rules Relating to Financial Exploitation of Vulnerable Adults - On Oct. 15 FINRA published Regulatory Notice 15-37, requesting comment on proposed amendments to...more

Goodwin

CFPB Issues New Mortgage Disclosure Rule

Goodwin on

On October 15, 2015, the Consumer Financial Protection Bureau (CFPB) issued a final rule amending Regulation C, which implements the Home Mortgage Disclosure Act (HMDA). At nearly 800 pages, the new HMDA rule changes (i) the...more

Ballard Spahr LLP

CFPB Issues Response Guidance for Compliant System’s Company Portal

Ballard Spahr LLP on

The CFPB recently posted new "Response Guidance," which outlines what the CFPB deems "best practices" for financial institutions to follow in responding to consumer complaints, on its company portal....more

Jackson Walker

Dodd-Frank Financial Reform: Potential Impacts to ISDA and Other Trading Contracts

Jackson Walker on

Discussion Topics •General Overview of the Dodd-Frank Act •Title VII of the Dodd Frank Act: Impact on OTC Derivatives and Energy Trading •Definitions and applicability •Mandatory clearing •Registration requirements ...more

25 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide