Companies that fall within the definition of “data provider” are expected by this fall to be required to comply with the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank...more
6/14/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Information ,
Data Management ,
Debt Collection ,
Debt Collectors ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgage Servicers ,
Proposed Rules ,
Regulation E
On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to...more
11/9/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Digital Wallets ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Gramm-Leach-Blilely Act ,
Mobile Payments ,
Nonbank Firms ,
Peer-to-Peer ,
Proposed Rules ,
Public Comment
Please join Troutman Pepper attorneys Chris Willis, Keith Barnett, Carlin McCrory, and Josh McBeain in announcing the Payments Pros Podcast — our new podcast providing insights for those in the payments law industry. This...more
The Consumer Financial Protection Bureau (CFPB or Bureau) has signaled that it intends to propose a rule that would allow it to exercise supervisory authority over a greater number of nonbank financial companies that...more
Troutman Pepper’s Payments Pros podcast offers insights from Troutman Pepper Fintech and Payment practice group attorneys, industry business leaders, and regulatory experts on the most challenging legal and regulatory...more
In February, Massachusetts Attorney General Joy Campbell announced a $6.5 million settlement with Safe Home Security, its CEO, and affiliated companies to resolve allegations that their practices violated state consumer...more
On March 18, Opportunity Financial, Inc. (OppFi) — a Chicago-based platform lender — announced that the Consumer Financial Protection Bureau (CFPB) is investigating its compliance with the Military Lending Act. The...more
On January 21, the CFPB issued a Small Entity Compliance Guide summarizing the October 2020 Debt Collection Rule. The Debt Collection Rule amends Regulation F, 12 CFR Part 1006 and becomes effective on November 30, 2021. The...more
The Ninth Circuit Court of Appeals held in Urbina v. National Business Factors Inc. that a debt collector cannot use a “bona fide error” defense to shield itself from liability under the Fair Debt Collection Practices Act...more