CFPB Warns of Manipulation in Digital Comparison Shopping Tools
Consumer Finance Monitor Podcast Episode: The CFPB’s Registry of Nonbanks and Circular that Certain Contract Terms Violate Law
Consumer Finance Monitor Podcast Episode: Should Medical Debt Be Included in Creditworthiness Measures?
Loans, Retail Installment Contracts, and Refinancing Programs — Moving the Metal: The Auto Finance Podcast
Welcome Trevor Salter: A Deep Dive Into Financial Services Transactions — The Consumer Finance Podcast
Understanding the CFPB's Payday Loan Rule: Implications and Compliance — Payments Pros – The Payments Law Podcast
Understanding the CFPB's Payday Loan Rule: Implications and Compliance — The Consumer Finance Podcast
The CFPB’s Report on Negative Equity in Auto Lending - Moving the Metal: The Auto Finance Podcast
Consumer Finance Monitor Podcast Episode: Buy Now, Pay Later – Evolution, Regulation, and What You Need to Know about the CFPB Interpretive Rule Effective July 30
CFPB's New Interpretive Rule: Buy Now, Pay Later as Credit Cards — The Consumer Finance Podcast and Payments Pros Podcast
The CFPB and State AGs Act Jointly Against Online Educational Company
Consumer Finance Monitor Podcast Episode: Consumer Financial Protection Bureau Wins in Supreme Court But Can the Fed Continue to Fund the CFPB Without Earnings?
Auto Finance – CFPB Circular Release — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Meet Troutman Pepper's Bank Regulatory Team — The Consumer Finance Podcast
Navigating Ancillary Products in Auto Finance — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: An Insider’s View of the CFPB
Consumer Finance Monitor Podcast Episode: Banks and Their Customer Relationships: What is the Appropriate Role of Bank Regulators?
Imminent Shift: Preparing for the T+1 Settlement Impact on Equity-Based Compensation — The Consumer Finance Podcast
Auto Finance – The CFPB Complaints Report — The Consumer Finance Podcast
In the last several weeks, California's Department of Financial Protection and Innovation (fka the Department of Business Oversight) has issued a number of consumer alerts involving companies fraudulently claiming to hold a...more
On September 3, 2020, the California Department of Business Oversight (DBO) announced that it has launched a formal investigation into whether Wheels Financial Group, LLC d/b/a LoanMart, formerly one of California’s largest...more
On April 22, 2020, the California Department of Business Oversight (DBO) announced a settlement with a point-of-sale lender that offered consumers a “buy now, pay later” option for payment. ?The DBO alleged that these...more
California's Governor Gavin Newsom has big plans for the Department of Business Oversight. These plans were described in his proposed 2020-2021 budget as follows...more
A recent legal conference in Washington, DC, highlighted newly proposed and ongoing regulatory changes in California concerning consumer and commercial lending. ...more
California is poised to join the growing cadre of states enhancing their consumer financial protection functions in response to perceived decreasing federal oversight and enforcement under the Trump administration. Following...more
The State of California is home to almost 40 million consumers and the world’s fifth largest economy. It represents a key exposure to most financial services companies’ US footprint. In recent years nonbank financial services...more
At the start of the new year, both California’s Governor Newson and New York’s Governor Cuomo proposed expansions to their respective state’s regulatory oversight of consumer financial services. Of particular note,...more
On December 30, 2019, the California Department of Business Oversight (DBO) announced two actions regarding companies offering unregulated, point-of-sale financing to California residents. In the first action, the DBO...more
Late last month, the California Department of Business Oversight took the unusual step of issuing a press release announcing that it had denied an application by Sezzle Inc. for a lender's license under the California...more
The California Department of Business Oversight (DBO) has issued a Release that summarizes the provisions of California Assembly Bill 539 and addresses some implementation issues. This bill was chaptered as Chapter 708 of the...more
California nonbank consumer lenders are moving away from small-dollar short-term payday loans and are, instead, embracing longer-term installment loans with amounts over $2,500 to avoid interest rate caps, according to the...more
California prohibits any person (unless exempt) from engaging in the business of a finance lender or broker without obtaining a license from the Commissioner of Business Oversight. Cal. Fin. Code § 22100(a). This applies to...more
The California Department of Business Oversight (DBO) has filed an administrative enforcement action against a title lender for alleged violations of California law and launched an investigation into whether the interest...more
The California Commissioner of Business Oversight is require to prepare an annual report summarizing the data collected from issuers that were granted permits to offer and sell securities pursuant to Corporations Code §...more
The California Financing Law (fka Finance Lenders Law) prohibits anyone from engaging in the business of a finance lender without obtaining a license from the California Commissioner of Business Oversight (unless exempt). ...more
On January 22, 2019, the California Department of Business Oversight (DBO) announced that it had entered into a consent order with a payday lender to resolve allegations that the company violated the California Financing Law,...more
For U.S. Supreme Court followers, a hot topic is whether the Court will continue to apply "Chevron deference". Under Chevron U.S.A., Inc. v. Natural Resources Defense Council, 467 U.S. 837 (1984), a court will uphold an...more
Section 22303 of the California Financial Code establishes the maximum interest rates applicable to loans less than $2,500. The preceding section incorporates by reference the general Civil Code provision about contract...more
On June 29, 2018, the California Commissioner of Business Oversight warned California residential mortgage lenders and servicers that their failure to file annual reports could lead to enforcement actions. ...more
The California Department of Business Oversight (DBO) released a pair of reports on installment consumer lending for 2017, finding that the combined dollar amount of installment consumer loans by nonbanks in the state fell...more
In a clear message to FinTech start-ups, on September 27, 2016, the Consumer Financial Protection Bureau (CFPB) ordered online lender Flurish, Inc. to pay $1.83 million in refunds and a civil penalty of $1.8 million for...more
On September 27, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with an online lender, after a joint investigation with the California Department of Business Oversight...more
According to a new report from the California Department of Business Oversight (DBO), installment consumer lending by nonbanks grew almost 50 percent in 2015, with the majority of loans between $2,500 and $5,000 featuring an...more
The results are in from the California Department of Business Oversight's (DBO) investigation into online marketplace lending....more