Welcome to the Mortgage Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Enforcement efforts are expected to increase in 2024 and will...more
Welcome to the Major US Supreme Court and Appellate Cases chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The Supreme Court continues to take a close look at major...more
2/19/2024
/ Administrative Law Judge (ALJ) ,
Appeals ,
Appellate Courts ,
Article III ,
But For Causation ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Counsel ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA)
Welcome to the Market Overview chapter of our annual report Consumer Financial Services 2023 Year in Review.
For the consumer finance industry, 2023 was all about the Consumer Financial Protection Bureau (CFPB or Bureau)....more
Welcome to the Payday and Small-Dollar Lending chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Regulators may take additional regulatory and enforcement action...more
Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Amendments to key rules and regulations will take effect in 2024,...more
2/16/2024
/ Amended Regulation ,
Biden Administration ,
California Consumer Privacy Act (CCPA) ,
Class Action ,
Cybersecurity ,
Data Privacy ,
Enforcement Actions ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
NYDFS ,
Popular ,
Proposed Regulation ,
Safeguards Rule ,
Securities and Exchange Commission (SEC) ,
State Privacy Laws
Welcome to the Telephone Consumer Protection Act chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
States will continue to enact or update their mini-TCPA and...more
Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more
2/16/2024
/ Apple Pay ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
GAO ,
Google ,
New Legislation ,
Nonbank Firms ,
OCC ,
Payday Loans ,
Payment Systems ,
PayPal ,
Regulation Z ,
Third-Party Relationships ,
Truth in Lending Act (TILA) ,
Venmo ,
Wages
Welcome to the Debt Collection and Debt Settlement chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Enforcement actions related to debt collection and debt...more
2/16/2024
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Repair Services ,
Debt Collection ,
Debt Collectors ,
Debt-Relief Industry ,
Enforcement Actions ,
FDCPA ,
FTC Act ,
Gramm-Leach-Blilely Act ,
Student Loans ,
Telemarketing Sales Rule
Welcome to the Auto Loan Origination and Servicing chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
We anticipate that the CFPB will continue its attempts to combat...more
2/16/2024
/ Automotive Loans ,
CARS Rule ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement Actions ,
False Advertising ,
Fees ,
Race Discrimination ,
Unfair or Deceptive Trade Practices
Welcome to the Credit Reporting chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB’s announcement of a proposed rulemaking to remove medical bills from...more
2/15/2024
/ Annual Reports ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Reporting Agencies ,
Credit Reports ,
ECOA ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Services Industry ,
Medical Bills ,
Medical Debt
Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
We expect continued focus by the CFPB on “junk”...more
2/15/2024
/ Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debit Cards ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Excessive Fees ,
Fees ,
Financial Services Industry ,
Popular ,
Prepaid Payment Products ,
Regulation Z ,
Rulemaking Process
Welcome to the Student Lending chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB will likely continue to focus on junk fees, nontransparent and other...more
2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more
2/22/2023
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Credit Reports ,
Debt Collection ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Payday Loans ,
Prepaid Payment Products ,
Privacy Laws ,
Student Loans
[co-authors: Amelie Hopkins, and Collin Grier]
The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more
2/23/2022
/ AMG Capital Management LLC v FTC ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Collins v Yellin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Credit Reporting Agencies ,
Credit Reports ,
Creditors ,
Debit and Credit Card Transactions ,
Debt Collection ,
Debtors ,
Dodd-Frank ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Servicing ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Payday Loans ,
Prepaid Payment Products ,
SCOTUS ,
Settlement ,
Small Dollar Lenders ,
Student Loans ,
TCPA ,
TransUnion LLC v Ramirez
On December 21, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it reached an agreement with a California-based fintech company that would require the company to cease “(1) making new loans; (2)...more
On June 8, 2020 the Washington Attorney General’s office (Washington AG) announced that a consent order had been reached with a Colorado-based debt collection agency that would require the agency to pay $475,000 to...more
In this Issue. The Office of the Comptroller of the Currency (OCC) issued guidance on its authority to charter limited purpose trust companies, raising the possibility that a limited purpose national bank could be organized...more
1/15/2021
/ Banking Sector ,
Capital Rules ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Instruments ,
Disclosure Requirements ,
Employee Stock Purchase Plans ,
Federal Trade Commission (FTC) ,
Filing Deadlines ,
Incentive Stock Options ,
Interpretive Letters ,
MD&A Statements ,
New Guidance ,
OCC ,
Paycheck Protection Program (PPP) ,
SBA ,
TCPA ,
Terms of Service ,
U.S. Treasury
On December 30, 2020, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a lender that provided installment loans to consumers affiliated with the military over the...more