On September 29, 2021, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released its fifth biennial report on the consumer credit card market (“Report”). The Report summarizes the impact of the Credit Card...more
Happy post-election, post-socially-distanced Thanksgiving, and pre-New Year’s newsletter. Banks, non-banks, and FinTechs can look forward to eight days of announcements from the Biden transition team with their latkes and...more
12/11/2020
/ Arbitration ,
Banking Sector ,
Bitcoin ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Data Breach ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Federal Savings Associations ,
Financial Services Industry ,
FinCEN ,
FinTech ,
FRB ,
Main Street Lending Programs ,
Mobile Payments ,
OCC ,
Private Attorneys General Act (PAGA) ,
SBA ,
TCPA ,
Third-Party Service Provider
On March 26, 2020, the Consumer Financial Protection Bureau (CFPB or the “Bureau”) announced that it is taking steps to temporarily assist financial institutions in meeting customer needs as a result of COVID-19. The CFPB...more
We start this issue with a feeling of déjà vu all over again. Decisions made during the mortgage crisis are back in the news with a powerhouse legal ruling and the Treasury’s initial thinking on how to turn back time. First,...more
9/12/2019
/ Appeals ,
Arbitration ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
FinCEN ,
GAO ,
HUD ,
Libor ,
Money Laundering ,
No-Action Letters ,
Reporting Requirements ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
SHIELD Act ,
TCPA ,
Volcker Rule
On March 10, 2017, the Consumer Financial Protection Bureau (CFPB or Bureau) published a Request for Information (2017 RFI) regarding the consumer credit card market. In accordance with Section 502(a) of the Credit Card...more
3/16/2017
/ Banking Sector ,
CARD Act ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Creditors ,
Debt Collection ,
Deferred Interest Products ,
Innovation ,
Online Banking ,
Request For Information ,
Subprime Loans
Editor’s Note -
So much for summer! The weather is cooling, the kids are back to school, and we better not see you wearing white so long after Labor Day! For those of you having a little trouble getting back in the...more
9/21/2016
/ Anti-Money Laundering ,
Arbitration ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Digital Currency ,
EU ,
EU-US Privacy Shield ,
Fair Lending ,
FDIC ,
Federal Trade Commission (FTC) ,
FinCEN ,
Foreclosure ,
Homeowner Bill of Rights ,
Mortgage Lenders ,
Municipalities ,
OCC ,
Online Banking ,
Securities and Exchange Commission (SEC) ,
Standing ,
Tax Revenues ,
TCPA ,
Telemarketing ,
Volcker Rule
On July 28, 2016, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its outline of proposals under consideration for the regulation of debt collection. This 117-page release, entitled “Small Business Review...more
Why another law firm newsletter? Over ten years ago, Will Stern answered that question in the first Editor’s Note of the first Financial Services Report. Some things have changed since then—we no longer print and mail paper...more
3/9/2016
/ Arbitration ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Customer Lists ,
Cybersecurity ,
Debt Collection ,
Department of Justice (DOJ) ,
EU-US Privacy Shield ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
HMDA ,
Mortgages ,
OCC ,
Payday Loans ,
Preemption ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Truth in Lending Act (TILA)
On December 3, 2015, the Consumer Financial Protection Bureau ("CFPB" or “Bureau”) released its second biennial report on the consumer credit card market (“Report”), as required by the Credit Card Accountability...more
In This Issue:
- Arbitration Report
- Beltway Report
- Bureau Report
- Mobile & Emerging Payments Report
- Mortgage & Fair Lending Report
- Operations Report
- Preemption Report
-...more
6/9/2015
/ Arbitration Agreements ,
CashCall ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Debt Collection ,
Debtor-Creditor ,
Fair Lending ,
Federal Arbitration Act ,
Mobile Payments ,
Mortgages ,
TCPA
In This Issue:
- Beltway Report
- Bureau Report
- Mobile and Emerging Payments Report
- Mortgage and Fair Lending Report
- Operations Report
- Preemption Report
- Privacy...more
9/18/2014
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Debt Collection ,
Federal Reserve ,
Lending ,
Mortgages ,
OCC ,
Privacy Policy ,
RESPA ,
Robo-Signing ,
TCPA ,
Volcker Rule
On January 23, 2014, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would define which nonbank covered persons would be designated “larger participants” for purposes of the international money...more