A new Illinois data privacy law specifically tailored to motor vehicle-secured financing transactions becomes effective on January 1, 2024, and is likely to lead to similar laws in other states. ...more
In this article, we share a timeline of our monthly "bites" for 2022 applicable to the credit card industry. As evidenced by the timeline, federal regulators (primarily the CFPB) are beginning to renew their focus on credit...more
1/19/2023
/ CARD Act ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Credit Cards ,
Dodd-Frank ,
ECOA ,
Excessive Fees ,
Fair Credit Reporting Act (FCRA) ,
Fees ,
Financial Services Industry ,
UDAAP ,
Unconstitutional Condition
On March 23, 2021, Illinois Governor Pritzker signed SB 1792, which includes the Illinois Predatory Loan Prevention Act, into law.
The new law imposes sweeping changes to the rate authority on consumer purpose...more
On March 26, 2020, the Bureau of Consumer Financial Protection (CFPB) issued a Statement on Supervisory and Enforcement Practices Regarding Bureau Information Collection for Credit Cards and Prepaid Account Issuers...more