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Financial Institutions › Consumer Credit Protection

Troutman Pepper

Kansas Governor Enacts Significant Changes to Kansas Mortgage Business Act and Uniform Consumer Credit Code

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Kansas Governor Laura Kelly signed House Bill (HB) 2247 into law, bringing significant changes to the Kansas Mortgage Business Act and the Uniform Consumer Credit Code (UCCC). The changes brought about by HB 2247 will largely...more

Jones Day

CFPB Guidance Puts Creditors on Notice About AI-Involved Adverse Actions

Jones Day on

Recent Consumer Financial Protection Bureau ("CFPB") guidance reiterates that creditors must provide consumers with accurate and individualized explanations for adverse actions—a task made more difficult by the complexity of...more

Latham & Watkins LLP

Consumer Duty Update: FCA Issues Dear CEO/Director Letters Setting Priorities for Sectors

Latham & Watkins LLP on

The letters ask senior management to prioritise implementing the Duty. On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July...more

Hogan Lovells

UK Consumer Credit Act 1974: HM Treasury takes first step towards ‘ambitious long-term reform’

Hogan Lovells on

Following a government announcement in June this year of a commitment to 'ambitious long-term reform' to create a consumer credit regulatory regime that fosters innovation but also maintains high levels of consumer...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

Spilman Thomas & Battle, PLLC

WV Legislature Amends Consumer Protection Statute to Regulate and Impose Restrictions on Litigation Financiers

Spilman Thomas & Battle, PLLC on

During its 2019 regular session, the West Virginia Legislature once again reviewed the West Virginia Consumer Credit and Protection Act and determined additional changes were necessary. The Act, one of the primary statutes...more

Ballard Spahr LLP

House to hold June 6 hearing on CFPB

Ballard Spahr LLP on

On June 6, 2018, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled “Improving Transparency and Accountability at the Bureau of Consumer Financial...more

Ballard Spahr LLP

CFPB Consumer Advisory Board to meet March 2

Ballard Spahr LLP on

The CFPB has published a notice in the Federal Register announcing that a meeting of its Consumer Advisory Board will be held on March 2, 2017. The notice indicates that the Board will discuss the consumer credit information...more

Carlton Fields

CFPB Continues to Target Add-On Credit Products

Carlton Fields on

The Consumer Financial Protection Bureau (CFPB) has stepped up its enforcement actions alleging deceptive and unfair practices in marketing and billing for add-on credit protection products. Add-on products have been one of...more

Manatt, Phelps & Phillips, LLP

PayPal to Pay $25M to Resolve CFPB Allegations of “Abusive” Conduct in First Action Against Online Payments Company

Manatt, Phelps & Phillips, LLP on

Why it matters - In a not-unexpected announcement, the Consumer Financial Protection Bureau (CFPB) revealed a $25 million settlement with PayPal resolving allegations that the company illegally signed consumers up for...more

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