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Consumer Financial Protection Bureau (CFPB) Payment Terms

Morgan Lewis

FTC’s Final ‘Cars Rule’ on Dealer Sales Practices: Implications for Banks, Auto Finance, and ‘captives’

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The Federal Trade Commission recently issued a final rule that is squarely aimed at changing the way dealers interact with customers in the financing process. The final rule takes effect on July 30, 2024....more

Ballard Spahr LLP

FTC study examines issues experienced by consumers when buying and financing a vehicle

Ballard Spahr LLP on

Last week, the FTC released two new reports about the agency’s findings from an April 2017 study of consumers’ experiences with the car buying process. The FTC’s Bureau of Consumer Protection (BPC) authored a summary report...more

Ballard Spahr LLP

CFPB Issues Final Rule Rescinding Payday Loan Rule Ability To Repay Provisions And Ratifies Rule’s Payments Provisions

Ballard Spahr LLP on

The CFPB has issued its long-awaited final rule rescinding the ability-to-repay provisions in its final payday/auto title/high-rate installment loan rule (Payday Rule).  The final rule will be effective 90 days after its...more

Ballard Spahr LLP

CFPB addresses RESPA issue in its first no-action letter under the revised final policy

Ballard Spahr LLP on

In its first No-Action Letter under the new revised policy, the CFPB addresses a long-standing issue under the Real Estate Settlement Procedures Act regarding certain payment arrangements between mortgage lenders and housing...more

Ballard Spahr LLP

CFPB discusses handling of student loan partial prepayments by servicers

Ballard Spahr LLP on

In a new blog post by Student Loan Ombudsman Seth Frotman, the CFPB discusses its concerns regarding how student loan servicers may be responding to borrowers seeking to make partial prepayments on their student loans and...more

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