The Consumer Financial Protection Bureau is finally moving forward with rulemaking under Section 1071 of the Dodd-Frank Act, which will require “financial institutions” to collect, maintain and report to the CFPB data on...more
6/28/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Disparate Impact ,
Dodd-Frank ,
ECOA ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Minority-Owned Businesses ,
Regulatory Requirements ,
Reporting Requirements ,
SBREFA ,
Section 1071 ,
Small Business ,
Women-Owned Businesses
State and federal financial regulators increasingly are focused on protecting small businesses, as illustrated by recent enforcement efforts and new state laws regulating both traditional and innovative small-business finance...more
3/16/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Continuing Legal Education ,
Disclosure Requirements ,
Enforcement Actions ,
Fair Lending ,
Federal Trade Commission (FTC) ,
Financial Products ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Regulatory Authority ,
Regulatory Requirements ,
Small Business ,
Small Business Loans ,
State Regulators ,
UDAAP ,
Webinars
With an ever-evolving enforcement regime at the federal and state levels, the financial services industry faces complex regulatory issues. Join Manatt’s team of consumer financial services professionals for a complimentary...more
On the heels of finalizing its Madden-fix rule, the Office of the Comptroller of the Currency (OCC) on July 20, 2020, issued a proposed regulation to address bank-partnership uncertainty arising from the so-called true lender...more
7/28/2020
/ Consumer Financial Products ,
Consumer Protection Laws ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Madden v Midland Funding ,
OCC ,
Regulatory Standards ,
True Lender
On May 29, 2020, the Office of the Comptroller of the Currency (OCC) issued its final rule affirming the “valid when made” doctrine for national banks and federal savings associations. Adopted as proposed, the final rule...more
In a cautionary tale for banks, the U.S. Court of Appeals, Eleventh Circuit held that a plaintiff could move forward with his Fair Credit Reporting Act (FCRA) suit after a national bank allegedly failed to investigate a...more
Addressing two issues of first impression in the U.S. Court of Appeals, Ninth Circuit, a panel ruled that a consumer suffers a concrete, Article III injury-in-fact when a third party obtains her credit report for a purpose...more
Continuing the run of multimillion-dollar settlements in Telephone Consumer Protection Act (TCPA) class actions, a Florida federal court granted preliminary approval for a $26 million deal over text messages.
...more
Implementation of the Federal Communication Commission’s (FCC’s) plans for the establishment of a single, comprehensive reassigned numbers database has been pushed back until next year....more
After a California jury sided with the plaintiffs in a Telephone Consumer Protection Act (TCPA) class action against a debt collector, the court entered judgment in the amount of $267 million in damages for the roughly...more
The Federal Communications Commission (FCC) has asked for input on a new petition addressing whether soundboard technology violates the Telephone Consumer Protection Act (TCPA)....more
From California to Congress, new legislative proposals are attempting to crack down on interest rates.
With interest rates historically set by individual states for particular types of loans, federal caps on interest rates...more