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Ballard Spahr LLP

Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

Troutman Pepper

Banks Should Continue to Prep for CFPB Data Rule Rollout

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Companies that fall within the definition of “data provider” are expected by this fall to be required to comply with the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank Act. ...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Troutman Pepper

Big Tech in the CFPB’s Crosshairs: Bureau Proposes to Supervise Larger Technology Companies Offering Digital Wallets and Payment...

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On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to...more

Ballard Spahr LLP

Kentucky Federal District Court Issues Order Enjoining the CFPB From Enforcing the Small Business Data Collection Rule as to All...

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On September 14th, the Federal District Court for the Eastern District of Kentucky granted the plaintiff’s motion to preliminarily enjoin the CFPB from implementing the Small Business Lending Rule (Rule) promulgated under...more

Alston & Bird

Oh Snap! CFPB Sues Fintech Company under CFPA and TILA

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A&B Abstract: On July 19, 2023, the Consumer Financial Protection Bureau (CFPB) sued a Utah-based fintech company and several of its affiliates (the Company) for allegedly deceiving consumers and obscuring the terms of its...more

Troutman Pepper

CFPB Moves to Widen Supervisory Scope in Consumer Payments Market

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The Consumer Financial Protection Bureau (CFPB or Bureau) has signaled that it intends to propose a rule that would allow it to exercise supervisory authority over a greater number of nonbank financial companies that...more

Spilman Thomas & Battle, PLLC

All Consuming - Financial Litigation Insights, Volume 3, Issue 5

CFPB Invokes Dormant Authority to Examine Nonbank Companies Posing Risks to Consumers and CFPB Claims Oversight Over More Entities Including Fintechs; Says It Will Publish Supervisory Determinations - "The CFPB is also...more

Goodwin

2021 Year in Review: Consumer Finance

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[co-authors: Amelie Hopkins, and Collin Grier] The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more

Hudson Cook, LLP

Consumer Complaints on the Rise - CFPB's Annual Complaint Report

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As required by the Dodd-Frank Act, the Consumer Financial Protection Bureau recently provided to Congress its Consumer Response Annual Report for 2020. The report's introduction notes that, in 2020, the CFPB received more...more

Ballard Spahr LLP

CFPB Summer 2020 Highlights looks at consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and payday...

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The CFPB has released the Summer 2020 edition of its Supervisory Highlights.  The report discusses the Bureau’s examinations in the areas of consumer reporting, debt collection, deposits, fair lending, mortgage servicing, and...more

Manatt, Phelps & Phillips, LLP

CFPB: Debt Collectors, Consumers Receive Clarity on Time-Barred Debt

Proposing a specific limit on debt collectors but also providing a safe harbor for compliance, the Consumer Financial Protection Bureau (CFPB) has issued proposed regulations that would allow debt collectors to contact...more

Ballard Spahr LLP

CFPB Winter 2020 Supervisory Highlights looks at debt collection, mortgage servicing, payday lending, student loan servicing

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The CFPB has released the Winter 2020 edition of its Supervisory Highlights.  The report discusses the Bureau’s examinations findings in the areas of debt collection, mortgage servicing, payday lending, and student loan...more

Ballard Spahr LLP

CFPB publishes Fall 2019 rulemaking agenda

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The CFPB has published its Fall 2019 rulemaking agenda as part of the Fall 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget....more

Bradley Arant Boult Cummings LLP

Does the New Debt Collection Rule Apply to First-Party Creditors?

Last November, Bradley’s Financial Services Perspectives team predicted that the Consumer Financial Protection Bureau’s (CFPB) then upcoming Notice of Proposed Rulemaking (NPRM) for the Does the New Debt Collection Rule Apply...more

Ballard Spahr LLP

CFPB publishes Spring 2019 rulemaking agenda

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The CFPB has published its Spring 2019 rulemaking agenda as part of the Spring 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget (OMB).  ...more

Balch & Bingham LLP

CFPB Issues FDCPA Proposed Rule: A Detailed Overview

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On May 7, 2019, the Consumer Financial Protection Bureau (CFPB) released a much anticipated proposed rule regarding the Fair Debt Collection Practices Act (FDCPA). ...more

Ballard Spahr LLP

CFPB publishes debt collection proposed rule

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The CFPB has published its long-awaited notice of proposed rulemaking under the Fair Debt Collection Practices Act (FDCPA). ...more

Smith Debnam Narron Drake Saintsing & Myers,...

Has Mulvaney Gone Too Far? A Look at the CFPB’s Semi Annual Report to Congress

The CFPB has issued its semi-annual report to Congress, leaving little doubt as to the agenda of Acting Director, Mick Mulvaney. While the information contained in the actual report is largely inconsequential, it is...more

Nutter McClennen & Fish LLP

Nutter Bank Report, December 2017

Federal Banking Agencies Issue New Guidance for Banks Affected by a Major Disaster - The federal banking agencies have jointly issued new guidance on the supervisory practices to be followed in assessing the financial...more

Polsinelli

House GOP Chairman Outlines New Dodd-Frank Reforms - Revised Replacement Bill Forthcoming

Polsinelli on

A newly leaked memo from U.S. House of Representatives Financial Services Committee Chairman Jeb Hensarling (R-TX) to the Committee’s leadership team has provided stakeholders in the banking industry with a preview of major...more

Ballard Spahr LLP

CFPB Holds Hearing to Present Proposals for Debt Collection Regulation

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July 28th, the CFPB held a field hearing in Sacramento, California on debt collection that coincided with its release of an outline of the proposals it is considering in connection with its debt collection rulemaking. In his...more

Ballard Spahr LLP

CFPB Releases Debt Collection Industry Study

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On July 28, the CFPB held a field hearing about debt collection in Sacramento, California coinciding with the release of an outline of the proposals it is considering in connection with its debt collection rulemaking....more

Burr & Forman

CFPB Issues Sweeping and Unprecedented Rulemaking Proposals Seeking to “Drastically Overhaul Debt Collection Market”; Proposals...

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Early in the morning on July 28, 2016, in coordination with the Consumer Financial Protection Bureau’s (the “Bureau”) field hearing on debt collection being held the same day in Sacramento, California, the Bureau released a...more

Carlton Fields

CFPB’s Proposed Rule Banning Use of Pre-Dispute Arbitration Agreements to Block Consumer Class Actions Signals New Wave of Class...

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On May 5, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule which would prohibit application of pre-dispute arbitration agreements to class litigation involving a broad range of consumer...more

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