CFPB -
Regulators Take Aim at AI to Protect Consumers and Workers -
“In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automated systems that resulted in wrongful home...more
6/12/2023
/ Artificial Intelligence ,
Automotive Loans ,
Banking Sector ,
Bots ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Economic Sanctions ,
Equal Employment Opportunity Commission (EEOC) ,
Fake Online Accounts ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Legislative Agendas ,
Russia ,
Student Loans
Mortgage Lenders are Starting to Go Broke Amid Rate Spike and US Mortgage Lenders are Starting to Go Bankrupt — How This One Factor Could be Triggering the Worst Surge of Failures Since 2008
"Last year, two-thirds of the...more
Student Loan Forgiveness is Completely Unfair to These People
"If President Joe Biden proceeds with wide-scale student loan cancellation, the most likely beneficiaries could include federal student loan borrowers who earn...more
Student Loan Forgiveness Updates: New Changes Coming in 2022 for Public Service Borrowers -
"Borrowers on track for Public Service Loan Forgiveness, a federal student loan forgiveness program for people devoted to careers...more
Millions of Consumers have Cut Their Debts, So Why are Financial Experts Sounding Alarm -
"And with stimulus payments a thing of the past and other unusual financial stabilization programs unwinding, the alerts are going...more
11/17/2021
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Cryptocurrency ,
Financial Services Industry ,
Forbearance Agreements ,
Mortgages ,
Payment Systems ,
Stablecoins ,
Student Loans
What to Expect as Education Department Gets Ready to Resume Student Loan Payments -
"After nearly two years of pausing student loan bills, the U.S. Department of Education is trying to figure out how to start collecting...more
Bankruptcies Trending Down in West Virginia, but for How Long?
"Then from June 2020 to June 2021, in the heart of the pandemic, those numbers dropped even more."
Why this is important: From 2016 to 2019, there was an...more
China's Cryptocurrency Ban: What It Means for Bitcoin, Coinbase and the US -
"On Sept. 24, China's Central Bank declared all crypto-related transitions illegal, citing concerns about gambling fraud and money laundering."...more
Biden Makes It Easier for Student Loan Borrowers to Get a Mortgage -
"The new rule supported by the Biden administration proposed that FHA lenders drop the requirement to calculate student loan payments at 1%."
Why this is...more
8/25/2021
/ Biden Administration ,
Blackberry ,
Connected Cars ,
Consumer Financial Products ,
Credit Scores ,
False Claims Act (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Mortgages ,
Paycheck Protection Program (PPP) ,
Student Loans ,
TCPA
President Biden Extends Pause on Student Loan Payments to 2022 -
"Student loan payments have been paused since Congress passed the CARES Act in March of last year but were due to resume in September."
Why this is...more
Mobile Payment App Complaints are Surging as More Americans Go Cashless -
"Top complaints include trouble with digital wallets, scams and customer service issues."
Why this is important: Roughly four in five Americans...more
Consumer Watchdog Group Issues Policy to Strengthen National Eviction Moratorium -
"Since the eviction moratorium has been in effect, housing advocates and renters have said a lack of enforcement has led to landlords...more
5/19/2021
/ Capital Gains Tax ,
Congressional Investigations & Hearings ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reporting Agencies ,
Cryptocurrency ,
Eviction ,
FDCPA ,
Moratorium ,
Mortgages ,
Oral Argument ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
TransUnion ,
TransUnion LLC v Ramirez
Biden Administration to Cancel $1 Billion in Student-Loan Debt Held by Scammed Borrowers -
“Borrowers who requested loan forgiveness but got only partial relief under former Secretary of Education Betsy DeVos will have...more
3/24/2021
/ Banking Sector ,
CARES Act ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Cryptocurrency ,
Financial Services Industry ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
PayPal ,
Relief Measures ,
Student Loans ,
TCPA
Biden Administration May Undo Certain Trump-Era Mortgage Rules -
"Consumer advocates believe the rules may promote the sort of risky borrowing that led to the financial crisis in 2008."
Why this is important: The...more
Biden to Pick Rohit Chopra to Lead Consumer-Finance Agency -
"Rohit Chopra is the former student-loan ombudsman at the Consumer Financial Protection Bureau."
Why this is important: As an assistant director of the CFPB,...more
COVID-19, the CARES Act and the Impact on Mortgage Forbearance -
In response to the coronavirus pandemic, the federal government passed the CARES Act, which provides a number of protections to homeowners unable to pay...more
11/19/2020
/ CARES Act ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Forbearance Agreements ,
Foreclosure ,
Homeowners ,
Mortgages ,
Student Loans
How Virginia’s 2020 Fairness in Lending Act Reforms Small-Dollar Loans -
"The law closes regulatory loopholes, caps interest rates, and provides lessons for other states."
Why this is important: Earlier this year, the...more
11/4/2020
/ Bitcoin ,
Consumer Financial Products ,
Distributed Ledger Technology (DLT) ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Forgiveness ,
Mortgage Lenders ,
Payday Loans ,
Small Dollar Lenders ,
Student Loans
Servicemembers’ Civil Relief Act - What You Need to Know -
Between the Civil War and 1940, the United States periodically had legislation that prevented lawsuits against soldiers and sailors during times of conflict. Then,...more
10/23/2020
/ Artificial Intelligence ,
Coronavirus/COVID-19 ,
Credit Cards ,
Department of Justice (DOJ) ,
Enforcement Actions ,
False Claims Act (FCA) ,
Financial Services Industry ,
FinTech ,
Gig Economy ,
High Net-Worth ,
Interest Rates ,
Investment Opportunities ,
Loan Forgiveness ,
Loans ,
Mortgages ,
Payday Loans ,
Reverse Mortgages ,
SBA ,
SCRA ,
Servicemembers’ Civil Relief Act ,
Small Business Loans ,
Startups ,
Venmo
Is a Cap on Payday Loan Rates About Protecting the Poor or Eliminating a Service?
"Industry representatives say the proposed cap would drive most, if not all, payday lenders out of business and leave their customers...more
10/13/2020
/ Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Forbearance Agreements ,
Governor Newsom ,
Loan Servicer ,
Mortgage Lenders ,
Mortgages ,
Payday Loans
Morrisey, Other AGs Reach $330 Million Agreement with Student Loan Company -
"West Virginia Attorney General Patrick Morrisey and 47 other attorneys general have reached a $330 million, multistate agreement with a student...more
9/24/2020
/ Advertising ,
Blockchain ,
CARES Act ,
Consumer Financial Products ,
Coronavirus/COVID-19 ,
Debit and Credit Card Transactions ,
Demographic Targeting ,
eMortgages ,
Enforcement Actions ,
Google ,
Illegal Fees ,
Loan Modifications ,
Merchant Fees ,
Mortgage Bankers Association ,
Mortgages ,
Multistate Investigations ,
Refinancing ,
Reverse Mortgages ,
Settlement ,
State Attorneys General ,
Student Loans ,
Surcharges
Three Important Ways the COVID-19 Pandemic is Changing the Delivery of Consumer Financial Services -
The world continues to come to grips with the daily changes brought by the COVID-19 pandemic. Schools contemplate...more
9/18/2020
/ Appeals ,
Blockchain ,
Buyers ,
CARES Act ,
Consumer Bankruptcy ,
Consumer Complaint Database ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Terms ,
Coronavirus/COVID-19 ,
Delinquency Status ,
Enforcement Actions ,
FDCPA ,
Forbearance Agreements ,
Lenders ,
Mortgages ,
Reaffirmation ,
Reverse Mortgages ,
Student Loans ,
VA Loans
This 20th edition of Unprecedented, our weekly update on COVID-19-related litigation, finds both plaintiffs and defendants with reasons to celebrate. Insurance carriers avoided consolidation of coverage disputes in...more
8/20/2020
/ Administrative Procedure Act ,
All-Risks Insurance ,
Business Closures ,
Business Interruption ,
Case Consolidation ,
Civil Authority Coverage ,
Civil Liability ,
Constitutional Challenges ,
Consumer Fraud ,
Contract Terms ,
Coronavirus/COVID-19 ,
Court Schedules ,
Denial of Insurance Coverage ,
Department of Justice (DOJ) ,
Dismissals ,
Employer Liability Issues ,
Eviction ,
Executive Orders ,
Family Members ,
Government Shutdown ,
Governor Cooper ,
Gross Negligence ,
Immigration Attorneys ,
Insurance Industry ,
Landlords ,
Legislative Agendas ,
Masks ,
Meat Processing Plants ,
Moratorium ,
Motion to Dismiss ,
Multidistrict Litigation ,
Personal Protective Equipment ,
Property Insurance ,
Public Health Emergency ,
Sick Employees ,
State Attorneys General ,
State Legislatures ,
Tenants ,
VA Supreme Court ,
Virus Testing ,
Voluntary Withdrawal ,
Willful Misconduct ,
Workplace Safety ,
Wrongful Death
Welcome to 2020's second edition of Product Lines, our e-newsletter that focuses on toxic torts and product liability issues.
For this edition, we are reporting on several important and timely legal issues. As you will...more
8/17/2020
/ Bayer ,
Class Action ,
Class Certification ,
Climate Change ,
Consumer Fraud ,
Consumer Product Companies ,
Coronavirus/COVID-19 ,
E-Commerce ,
Food and Drug Administration (FDA) ,
IKEA ,
Misrepresentation ,
NJ Supreme Court ,
Pharmaceutical Industry ,
Product Defects ,
Product Recalls ,
Public Readiness and Emergency Preparedness Act (PREP Act) ,
Settlement Agreements ,
Toxic Exposure ,
Vaccinations ,
Wrongful Death
Welcome!
Welcome to August’s issue of All Consuming. This month, we are taking a deep dive into discharges in bankruptcy and then reviewing several top news stories in the world of consumer finance. We hope you find value...more
8/10/2020
/ Bank of America ,
Collateral Estoppel ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Creditors ,
Cryptocurrency ,
Damages ,
Debtors ,
Deed of Trust ,
Disability Discrimination ,
Dischargeable Debts ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
False Advertising ,
Fines ,
Forbearance Agreements ,
Mortgage Lenders ,
NC Supreme Court ,
Non-Judicial Foreclosures ,
OCC ,
Regulation Z ,
Wells Fargo ,
Without Consent
The Editors' Note -
Welcome to the second issue of Decoded, Spilman's e-newsletter focusing on technology law, including data security, privacy standards, financing technologies, and digital-based means of conducting...more
7/27/2020
/ Appeals ,
ATDS ,
Biometric Information ,
Biometric Information Privacy Act ,
Cash Transactions ,
CFTC ,
Class Action ,
Coronavirus/COVID-19 ,
Cryptoassets ,
Data Plumbing ,
Data Security ,
Facial Recognition Technology ,
False Arrest ,
False Evidence ,
FCC ,
FinTech ,
Identity Theft ,
Identity Theft Protection Acts ,
IMDB ,
LinkedIn ,
Personally Identifiable Information ,
Privacy Laws ,
Private Commercial or Financial Information ,
Securities and Exchange Commission (SEC) ,
Securities Tokens ,
Settlement ,
TCPA ,
Unregistered Securities ,
Website Owner Liability