News & Analysis as of

Consumer Credit Protection

Dentons

Final tranche of consumer credit reforms now live

Dentons on

In brief - From 1 December 2021: The remaining bulk of the amendments under the Credit Contracts Legislation Amendment Act 2019 (CCLAA) will come into force and amend the  Credit Contracts and Consumer Finance Act...more

Dentons

BACK TO BASICS, Continued—the Federal Trade Commission regulations that touch every consumer credit transaction

Dentons on

If I asked you to name each of the Federal Trade Commission (FTC) regulations that impact credit sales and loans every day, could you? I couldn’t until I decided to look them up for today’s blog and to review my blog post...more

Weiner Brodsky Kider PC

CFPB Analyzes Trends in Reported Assistance on Consumers’ Credit Records

The CFPB recently posted its second analysis in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. The analysis focuses on reported assistance on consumers’ credit records by reviewing...more

Hogan Lovells

Consumer finance regulatory news, May 2021 # 2

Hogan Lovells on

FCA consumer credit information sheets updated - The UK Financial Conduct Authority (FCA) has updated its webpage on consumer credit information sheets to announce the publication of revised information sheets relating to: ...more

Troutman Pepper

Recent Amendments to West Virginia Consumer Credit Protection Act Signal a Move to Level the Playing Field

Troutman Pepper on

On March 18, the West Virginia legislature passed Senate Bill 5, amending the West Virginia Consumer Credit and Protection Act (WVCCPA). The amendments will apply to all causes of action filed on or after June 16, 2021, the...more

Weiner Brodsky Kider PC

West Virginia Addresses Consumer Credit and Protection Act and Foreclosure Actions

West Virginia recently enacted two bills, Senate Bill 5 and Senate Bill 42, regarding the Consumer Credit and Protection Act and foreclosure actions, respectively.  Both bills take effect June 16, 2021....more

Hogan Lovells

Consumer finance regulatory news, April 2021 # 3

Hogan Lovells on

EU consumer credit websites: European Commission findings from mini-sweep - The European Commission has published an updated webpage providing information on its findings during a mini-sweep of consumer credit websites in...more

Hogan Lovells

Consumer finance regulatory news, April 2021 # 2

Hogan Lovells on

Consumer credit forms: FCA statement on post-Brexit changes - The UK Financial Conduct Authority (FCA) has published a statement and accompanying webpage relating to changes certain consumer credit firms will have to make to...more

Weiner Brodsky Kider PC

Wyoming Adopts Amendments to the Wyoming Uniform Consumer Credit Code

Wyoming recently adopted House Bill (HB) 0008, which amends provisions of the Wyoming Uniform Consumer Credit Code including, but not limited to, refunds for certain credit insurance products upon prepayment, caps on credit...more

Bradley Arant Boult Cummings LLP

New Amendments to the WVCCPA to Provide Additional Certainty for Businesses

In a development that provides some measure of relief to businesses operating in West Virginia, particularly within the financial services industry, Gov. Jim Justice signed into law on March 29, 2021, amendments to the West...more

Hogan Lovells

Consumer finance regulatory news, December 2020

Hogan Lovells on

Mainstream consumer credit lenders: FCA Dear Board of Directors letter on supervisory strategy - The UK Financial Conduct Authority (FCA) has published a Dear Board of Directors letter sent to firms in the FCA's...more

Hogan Lovells

Consumer finance regulatory news, November 2020 # 2

Hogan Lovells on

COVID-19: Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus) (Amendment) Regulations 2020 - On 11 November 2020, the Consumer Credit (Enforcement, Default and Termination Notices) (Coronavirus)...more

Hogan Lovells

Consumer finance regulatory news, November 2020

Hogan Lovells on

COVID-19: FCA draft further guidance to support mortgage borrowers - On 2 November 2020, the UK Financial Conduct Authority (FCA) published draft further updated guidance and draft updated additional guidance for mortgage...more

Hudson Cook, LLP

CFPB Releases Report on COVID's Impact on Consumer Credit, with Some Surprising Results

Hudson Cook, LLP on

Crazy times, right? Chances are you've heard this refrain numerous times over the last seven months, most notably on Zoom calls during the crushing silence of someone on the call forgetting to unmute his or her microphone....more

Weiner Brodsky Kider PC

CFPB Releases Report on COVID-19 Impact on Consumer Credit

The CFPB recently published a report identifying key trends from COVID-19 on consumer credit use and access.  The report analyzes data provided by the CFPB’s Consumer Credit Panel, which represents a national sample of...more

Weiner Brodsky Kider PC

CFPB Issues Annual Threshold Adjustments for TILA (Regulation Z)

The CFPB recently amended TILA’s implementing Regulation Z by updating the dollar amounts of various thresholds for several provisions that are adjusted annually.  The threshold adjustments will be effective January 1, 2021....more

Hogan Lovells

Consumer finance regulatory news, June 2020 #3

Hogan Lovells on

Recent regulatory developments of interest to financial institutions with focus on consumer finance. This week reports on the European Commission's review of the Consumer Credit Directive....more

Weiner Brodsky Kider PC

CFPB Report Shows Substantial Decline in Credit Applications in March 2020

An interesting CFPB report identifies the early effects of the COVID-19 pandemic on the decline of consumer credit applications in March 2020.  The CFPB examined the number of credit pulls or “hard inquiries” performed in...more

McGlinchey Stafford

Credit Reporting During a Pandemic

McGlinchey Stafford on

Alert May 18, 2020 The economic impact of COVID-19 has already proven catastrophic for many businesses and consumers. Many employers are reducing their staffing or closing their doors permanently. As of May 8, 2020, the...more

Weiner Brodsky Kider PC

9th Circuit Rules that Loan Obtained by Trustee to Finance Repairs on Trust Property is Consumer Credit Transaction Under TILA,...

On April 14, 2020, the U.S. Court of Appeals for the Ninth Circuit ruled that a loan which was obtained by the trustee of a family trust for the benefit of the trust beneficiary qualified as a consumer credit transaction...more

McGlinchey Stafford

Regulatory sandboxes, policy changes spur innovation

McGlinchey Stafford on

Regulatory uncertainty remains one of the most significant challenges to finance companies that want to develop creative and innovative products and services. Federal and state agencies have implemented policies to facilitate...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: FCA Publishes Final Guidance on Temporary Financial Relief for Consumer Credit Customers Affected by COVID-19

Background - As discussed in a previous clients and friends memorandum, on 2 April 2020, the UK Financial Conduct Authority (“FCA”) proposed a number of temporary measures designed to support users of certain consumer...more

Hogan Lovells

FCA's new Business Plan prioritises areas of most potential harm amid COVID-19 challenges

Hogan Lovells on

In its 2020/21 Business Plan, the FCA states its aim to move towards a regulatory approach that's increasingly focused on end outcomes for consumers, markets and firms. The Business Plan reflects this approach, honing in on...more

King & Spalding

Ninth Circuit Affirms Judgment Against TransUnion After Rare Class Action Trial and Offers Illuminating Discussion of Class Member...

King & Spalding on

On February 27, the Ninth Circuit affirmed a jury verdict against TransUnion in a class action involving alerts that TransUnion included in certain consumers’ credit files that falsely indicated they might be on a national...more

Cadwalader, Wickersham & Taft LLP

COVID-19 Update: FCA Proposals on Temporary Financial Relief for Consumer Credit Customers Affected by COVID-19

Background - On 2 April 2020, the UK Financial Conduct Authority (“FCA”) proposed a number of temporary measures designed to support users of certain consumer credit products during the adverse economic conditions in the...more

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Updated: Dec 28, 2021:

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

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