Welcome to the “Overview: 2024 Lessons and 2025 Emerging Trends” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
As Goodwin predicted in our previous year in review, the enforcement and...more
3/17/2025
/ Artificial Intelligence ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Reports ,
Debt Collection ,
Enforcement Priorities ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Regulatory Reform ,
FinTech ,
Mortgage Servicing Rules ,
Peer-to-Peer ,
Popular ,
Regulatory Agenda ,
State Attorneys General ,
Trump Administration
The Consumer Financial Protection Bureau (CFPB) has experienced a flurry of activity over the past few weeks beginning with President Trump’s dismissal of Rohit Chopra as the Director of the Bureau on January 31. That same...more
Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA), as to medical information and debt. This proposed rule...more
Late last month, the Consumer Financial Protection Bureau (CFPB) issued a new Consumer Financial Protection Circular (Circular) which provides guidance about when a remittance transfer provider may be in violation of the...more
4/22/2024
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Fees ,
Financial Services Industry ,
Marketing ,
Money Transfer ,
Regulation E ,
Remittance Transfer Rule ,
Unfair or Deceptive Trade Practices
On Tuesday, March 5, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Final Rule) which amends provisions of Regulation Z, which implements the Truth in Lending Act (TILA). ...more
In late January, the West Virginia Legislature introduced two bills aiming to regulate and expand the telemarketing laws in West Virginia....more
Welcome to the Market Overview chapter of our annual report Consumer Financial Services 2023 Year in Review.
For the consumer finance industry, 2023 was all about the Consumer Financial Protection Bureau (CFPB or Bureau)....more
Last month, the Justice Department (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint statement that reminded financial institutions that all credit applicants are protected from discrimination on the...more
11/30/2023
/ Consumer Credit Protection Act (CCPA) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
ECOA ,
Immigration Status Discrimination ,
Joint Statements ,
Regulation B ,
Visas
The Supreme Court heard oral arguments on October 3, 2023 in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Ltd. The issue before the Court is whether the CFPB’s funding...more
On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued the small business lending rule (Final Rule) which implements the small business lending data collection requirements set for in Section 1071 of the...more
On June 21, 2023, the Office of the Comptroller of the Currency (OCC), Treasury, Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration...more
7/3/2023
/ Automation Systems ,
Banking Regulators ,
Comment Period ,
Dodd-Frank ,
Financial Regulatory Agencies ,
Mortgage Loan Originators ,
Mortgages ,
Non-Discrimination Rules ,
Property Valuation ,
Proposed Regulation ,
Quality Control Plan ,
Secondary Markets ,
Securitization
Last fall, the United States Court of Appeals for the Fifth Circuit found that the CFPB’s independent funding through the Federal Reserve was in violation of the Appropriations Clause and the underlying separation of powers...more
On February 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend Regulation Z, the implementing regulation of the Truth in Lending Act (TILA), to “better...more