A number of state and federal regulators, bolstered by messaging from the Biden administration, have embarked on a concerted campaign to address so-called “junk fees.”
• CFPB – On Oct. 11, the CFPB issued an...more
On September 8, a Texas federal judge ruled that the CFPB exceeded its authority by adopting a sweeping anti-discrimination policy last year. The CFPB adopted the policy in March 2022, via an update to its exam manual,...more
Section 1033 of the Dodd-Frank Act states that consumers have the right to access their own bank account and transaction data in a usable electronic format. This provision mandates that the CFPB adopt a rule relating to data...more
On August 31, both houses of the California legislature passed and sent to Governor Newsom for signature the California Consumer Financial Protection Law (the CCFPL). Effective on January 1, 2021 if Governor Newsom signs the...more
9/16/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Reporting Agencies ,
Debt Collectors ,
Department of Business Oversight ,
Dodd-Frank ,
FinTech ,
Governor Newsom ,
Legislative Agendas ,
Lenders ,
Merchant Cash Advance (MCA) ,
State and Local Government ,
State Legislatures ,
Title X ,
UDAAP
The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more
8/27/2016
/ Civil Monetary Penalty ,
Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Corrections ,
Credit Reporting Agencies ,
Debt Collection ,
Debt Collectors ,
Dodd-Frank ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Loan Originator Compensation Rule ,
Mortgage Lenders ,
Policies and Procedures ,
Remediation ,
Reputational Injury ,
Unfair or Deceptive Trade Practices
The Dodd-Frank Wall Street Reform and Consumer Protection Act grants to the U.S. Bureau of Consumer Financial Protection (the “CFPB”) the power to bring actions against “related persons” of non-depository institutions. A...more