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CFPB Proposes Financial Data and Open Banking Rule

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to implement Section 1033 of the Dodd-Frank Act. Section 1033 of Dodd-Frank requires covered persons to make...more

CFPB Targets Convenience Fees

On June 29, 2022, the Consumer Financial Protection Bureau issued an advisory opinion declaring that the Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from collecting “pay-to-pay” or convenience fees...more

CFPB Shores Up Legal Basis for Monitoring Loan Servicing Discrimination

On May 9, 2022, the Consumer Financial Protection Bureau issued an advisory opinion declaring that the Equal Credit Opportunity Act’s prohibitions against discrimination protect borrowers in all aspects of a credit...more

CFPB Follows FTC’s Lead on Consumer Online Reviews

On March 22, 2022, the Consumer Financial Protection Bureau announced that it has issued guidance designed to dissuade financial institutions from curbing consumers’ rights to post online reviews. Specifically, the CFPB put...more

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