The Consumer Financial Protection Bureau (CFPB), the primary federal regulator charged with enforcing consumer financial protection laws, recently announced a proposed rulemaking that would require the myriad non-banks...more
As previously discussed, financial services regulators are increasingly focused on how businesses use artificial intelligence (AI) and machine learning (ML) in underwriting and pricing consumer finance products. Although...more
Mick Mulvaney is secure in his new title as Acting Director of the Consumer Financial Protection Bureau (CFPB)—at least for now—as a result of a Trump-appointed judge’s decision, issued on November 28, 2017. The decision came...more
12/1/2017
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Consumer Financial Protection Bureau (CFPB) ,
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Director Nominations ,
Dodd-Frank ,
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Vacancies Act
Financial Institutions may need to revise consumer contracts to remove class action waivers in preparation for a March 2018 federal rule.
On July 19, the U.S. Consumer Financial Protection Bureau, the federal regulator for...more
In response to a challenge from mortgage servicer PHH Corp. regarding the constitutionality of the single director structure of the Consumer Financial Protection Bureau (the CFPB or Bureau), the United States Court of...more
10/20/2016
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Director Removal ,
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PHH Corp. v CFPB ,
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Removal At-Will ,
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RESPA ,
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Statutory Interpretation
Companies offering payment services or financial products to consumers are facing a proposed rule from the CFPB that would prohibit class action waivers in binding pre-dispute arbitration agreements. Although the information...more