News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Enforcement Actions Coronavirus/COVID-19

Eversheds Sutherland (US) LLP

A Measured Approach - US Cybersecurity and Data Privacy Review and Update: Looking back on our 2023 articles and planning ahead...

Technological advances, especially in Artificial Intelligence and quantum computing, will continue to amaze in the coming years. They will open up vast new opportunities while presenting profound regulatory, litigation, and...more

Hudson Cook, LLP

CFPB Orders National Bank to Pay Nearly $21 Million For Alleged Misconduct Relating to COVID-era Unemployment Payments

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On December 19, 2023, the CFPB issued an administrative consent order alleging that a Minneapolis-based National Bank inappropriately froze the accounts of "tens of thousands" of recipients of unemployment benefits via...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Mortgage

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Mortgage industry. So, what happened in 2022?...more

Hudson Cook, LLP

CFPB Bites of the Month: A December to Remember

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In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the December 21, 2022, webinar. So, what happened last month?...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 12, 2022)

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Regulatory Announcements- CFPB Issues Advisory Opinion on FCRA Permissible Purposes for Providing Consumer Reports. On July 7, the CFPB issued an Advisory Opinion on the Fair Credit Reporting Act (FCRA) that outlines...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 16, 2022)

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Alvaro Bedoya Sworn in as FTC Commissioner Following Senate Confirmation. On May 16, Alvaro Bedoya was sworn in as FTC Commissioner. The U.S. Senate confirmed Bedoya to the FTC’s open Commissioner on May 11. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Signals Foray into Protecting Small Businesses from Abusive Debt Collectors

On April 15, the CFPB and FTC announced the release of a joint annual report to Congress administering the Fair Debt Collection Practices Act (FDCPA).  The annual report highlights both agencies’ efforts to protect and...more

Wiley Rein LLP

Wiley Consumer Protection Download (March 8, 2022)

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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

Wiley Rein LLP

Wiley Consumer Protection Download (February 7, 2022)

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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

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2021

Federal and State Financial Regulators Publish New Guidance on LIBOR Transition - The federal banking agencies, the NCUA and the CFPB, in conjunction with the state bank and state credit union regulators, have issued joint...more

Vinson & Elkins LLP

What You Need To Know About White-Collar Criminal Enforcement Under The Biden Administration

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A new sheriff is in town — and that means the potential for big changes ahead for white-collar criminal enforcement in terms of specific areas of focus and volume of investigations...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 26, 2021)

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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

Bradley Arant Boult Cummings LLP

CFPB Rescinds 2020 Policy Statements Issued Due to COVID-19

On March 31, 2021, the Consumer Financial Protection Bureau (CFPB) rescinded seven recent policy statements and one bulletin in an effort to ensure compliance with consumer protection laws and reinforce its supervisory and...more

Cadwalader, Wickersham & Taft LLP

State Attorney General Insider – Winter 2020-2021 | December 2020 | Issue No. 3, Broad Strokes: State Attorneys General Continue...

Since our last Insider, much of the policy and enforcement focus of the state Attorneys General has been centered on issues around the COVID-19 pandemic, social unrest and election integrity....more

Bradley Arant Boult Cummings LLP

Acting Director David Uejio Issues Warning: CFPB Will Take Aggressive Action with Regard to COVID-19

On January 28, 2021, Acting Director David Uejio of the Consumer Financial Protection Bureau (CFPB) confirmed the CFPB’s new, aggressive approach to enforcement of COVID-19-related matters. Uejio’s statement, posted as a...more

King & Spalding

CFPB Focus on Payday Lending: A Look Around the Corner

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With the change of administration in Washington, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) is widely expected to assume a posture of aggressive enforcement of consumer protection laws. One area that we...more

BCLP

New CFPB Consent Decree May Highlight Loss Mitigation Issues for 2021

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What’s old is new again. 2021 will bring a new U.S. Administration and hopefully positive developments with regard to the COVID-19 pandemic, but it also is likely to see further adverse economic impacts....more

Goodwin

ISS Publishes 2021 Proxy Voting Guidelines

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In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more

Goodwin

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

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In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Ballard Spahr LLP

CFPB Private Education Loan Ombudsman issues annual report (UPDATED)

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The CFPB Private Education Loan Ombudsman has issued an annual report containing an analysis of approximately 5,000 federal student loan complaints, 1,900 private student loan complaints, and 1,700 debt collection complaints...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 26, 2020)

Wiley Rein LLP on

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

Goodwin

SEC Adopts Rule Providing New Regulatory Framework For Fund-Of-Funds

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In the News. The Securities and Exchange Commission (SEC) announced that it adopted Rule 12d1-4 under the Investment Company Act of 1940 (the 1940 Act), providing a new regulatory framework for fund-of-funds and final...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

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SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights: Issue 5, September 2020

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

Goodwin

Financial Services Weekly Roundup: The CFPB Digs Into “Seasoned” Qualified Mortgages

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In the News. The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to create a new category of “seasoned” qualified mortgages; the Securities and Exchange Commission’s (SEC) Office of...more

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