Consumer Finance Monitor Podcast Episode: A Close Look at the Consumer Financial Protection Bureau’s Proposal to Supervise Large Nonbank Providers of Digital Wallets and Payment Apps
Navigating the SEC's Whistleblower Enforcement Wave: A Guide for Financial Institutions — The Consumer Finance Podcast
Status of the DOJ's Combatting Redlining Initiative — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: The CARS Rule: What You Need To Know About the Federal Trade Commission’s Final Motor Vehicle Dealer Trade Regulation Rule, Part I
Year in Review and a Look Ahead: Unraveling the Threads of Class Action Litigation — The Consumer Finance Podcast
Chris Willis Discusses the 2023 CFS Year in Review and A Look Ahead
The Future of Digital Consumer Payment Applications: CFPB's Proposed Larger Participant Rule – The Consumer Finance Podcast and Payments Pros Podcast
Consumer Finance Monitor Podcast Episode: The Biden Admin “Junk Fees” Initiative Continues: What the Latest Actions Mean for the Consumer Financial Services and Rental Housing Industries, Pt 1
Consumer Finance Monitor Podcast Episode: The Consumer Financial Protection Bureau’s Policy Statement on Abusive Acts and Practices Under the Consumer Financial Protection Act
A Look at Recent Federal Trade Commission and Consumer Financial Protection Bureau Initiatives Concerning Privacy and Data Security
This edition of Fintech Flash identifies key issues we anticipate will impact the payments industry in 2024. First, the payments regulatory landscape continues to evolve, with a number of proposed rulemakings published by the...more
Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more
On April 3, 2023, the CFPB published a new official statement of policy on the authority that Congress passed in the Consumer Financial Protection Act of 2010 (“CFPA”), codified at 12 U.S.C. § 5536(a)(1)(B), banning “abusive...more
Subprime Auto Loan Company Settles Allegations It Turned Blind Eye to Shady Car Dealers - Massachusetts AG Maura Healey reached a settlement with subprime automobile finance company United Auto Credit Corporation (“UACC”) to...more
Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more
On July 24, 2020, the CFPB announced the issuance of consent orders against Sovereign Lending Group, Inc. (Sovereign) and Prime Choice Funding, Inc. (Prime Choice). The CFPB indicated in their announcement that these consent...more
The CFPB and the New York Attorney General have filed their response and reply briefs in the Second Circuit, where the CFPB and NYAG filed appeals from the district court’s decision and RD Legal Funding filed a cross-appeal. ...more
The CFPB and New York Attorney General have filed their opening briefs in their appeals to the Second Circuit in RD Legal Funding. ...more
We have been following very closely the lawsuit filed by the CFPB and the New York Attorney General against RD Legal Funding. We earlier reported that on June 21 Judge Preska dismissed the CFPB’s claims based on the...more
As expected, following Judge Preska’s dismissal on September 12 of all of the New York Attorney General’s federal and state law claims, the CFPB filed an appeal with the Second Circuit from Judge Preska’s June 21 ruling in...more
The CFPB has filed a proposed Rule 54(b) judgment in the RD Legal Funding case. The proposed judgment provides that “for the reasons stated in the Court’s June 21, 2018 Order, (ECF No. 80), final judgment is hereby entered...more
The New York Attorney General has sent a letter to Judge Preska asking her to clarify her August 23 order granting the CFPB’s request for entry of a Rule 54(b) judgment so that it can appeal her June 21 constitutionality...more
RD Legal Funding has submitted a letter to Judge Preska indicating that it does not oppose her entry of a Rule 54(b) judgment to allow the CFPB to appeal her June 21 constitutionality ruling to the Second Circuit but renews...more
RD Legal Funding has submitted a letter to Judge Preska asking her to dismiss all of the federal claims of the New York Attorney General (NYAG). ...more
RD Legal Funding has filed an answer to the complaint in the lawsuit filed against it by the CFPB and New York Attorney General (NYAG)....more
The CFPB has filed a lawsuit in a Maryland federal district court against: (1) Access Funding, LLC (Access), a limited liability company that purchases structured settlements from consumers; (2) Access’ managing member...more
Tucked away in a seemingly innocuous paragraph in a complaint, the Consumer Financial Protection Bureau has asserted an extraordinary and potentially far-reaching expansion of its authority. On June 6, 2016, the CFPB...more
The Consumer Financial Protection Bureau (CFPB) has stepped up its enforcement actions alleging deceptive and unfair practices in marketing and billing for add-on credit protection products. Add-on products have been one of...more
A federal judge has rejected the CFPB’s argument that the CFPA should incorporate a lower standard for “recklessness” than that to secondary liability under the Securities and Exchange Act of 1934 (“SEC Act”). On September 1,...more
Consent judgments in a lawsuit brought by the Florida and Connecticut Attorneys General have been entered against five individuals and one law firm for their part in an alleged “mass-joinder” mortgage rescue scam....more