CFPB and DOJ Joint Statement on Immigration Status and Credit Underwriting — The Consumer Finance Podcast
Convenience Fees: Why You Need to Pay Attention? - Payments Pros: The Payments Law Podcast
Convenience Fees: Why You Need to Pay Attention? - The Crypto Exchange Podcast
Seth Eaton Discusses Modifications and Workouts of Commercial Real Estate Loans during the COVID-19 Pandemic
After more than seven years of litigation, on September 12, 2024, the CFPB filed the Stipulated Order reflecting its settlement with the Company over alleged violations of the CFPA, FCRA, and FDCPA....more
On August 28, the U.S. District Court for the Northern District of Georgia entered an order and opinion granting the CFPB a default judgment in a case against an auto loan servicer (the defendant)....more
If you are reading this article, you are likely aware that a creditor collecting its own debts in its own name is not a "debt collector" under the federal Fair Debt Collection Practices Act ("FDCPA") or its implementing rule,...more
In this month's article, we share some of our top "bites" covered during the June 2024 webinar....more
In a consent order with a reverse mortgage servicer on June 18, 2024, the Consumer Financial Protection Bureau (CFPB) made the argument that failing to effectively service loans is abusive. The groundwork for this line of...more
Nonbank financial services companies with prior enforcement orders are preparing for the Consumer Financial Protection Bureau’s (CFPB) new Registry, which takes effect September 16. Nonbank consumer lenders, loan servicers,...more
Constitutionality concerns cleared, the Consumer Financial Protection Bureau (CFPB) on June 3 issued its final rule creating a registry identifying covered nonbanks subject to government agency enforcement orders. The rule's...more
On May 31, 2024, the CFPB announced that it had filed suit against a Pennsylvania-based student loan servicer for engaging in allegedly unfair, deceptive and abusive acts or practices in violation of the CFPA, 12 U.S.C. §§...more
On May 6, the CFPB filed a complaint against a Pennsylvania-based student loan servicer and 15 student loan trusts for alleged failure to properly respond to various borrower requests in violation of the CFPA. The complaint...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to the auto finance industry. We think it's safe to say that the auto finance industry was top of mind to the CFPB. ...more
On January 5, the CFPB released a report on how student loan borrowers may face customer support challenges as their student loan payments resume. Federal student loan repayments resumed for the first time in over three...more
Join Troutman Pepper Partner Chris Willis for a solo episode where he discusses a recent joint statement from the Consumer Financial Protection Bureau and the Department of Justice regarding the consideration of immigration...more
On July 26, 2023, the Consumer Financial Protection Bureau (CFPB) released a Supervisory Highlights report covering findings from its examinations completed between July 2022 and March 2023 (the Report), which found,...more
In this month's article, we share some of our top "bites" for the prior month covered during the August 2023 webinar. Bite 1: CFPB Publishes Report on Employer-Driven Debt - On July 20, 2023, the CFPB published a...more
On August 2 CFPB filed a complaint in the U.S. District Court for the Northern District of Georgia against an auto-loan servicer alleging a host of illegal practices that harmed individuals with auto loans. The Bureau alleged...more
On August 2, 2023, the CFPB announced that it had filed a complaint against a Georgia-based auto-loan servicer alleging “unfair acts and practices in violation of the Consumer Financial Protection Act of 2010 (CFPA), 12...more
This edition of Payments Pros spotlights an episode from The Crypto Exchange podcast where Ethan Ostroff sat down with Payments Pros hosts Keith Barnett and Carlin McCrory to discuss recent developments with convenience fees...more
President Recommends Regulatory Reforms to Address Recent Bank Failures - President Biden has issued a statement urging the federal banking agencies to adopt regulatory reforms that are meant to reduce the risk of future...more
On March 16, the CFPB released a compliance bulletin discussing student loan servicers’ practice of collecting on private student loans discharged in bankruptcy. ...more
On March 16, 2023, the Consumer Financial Protection Bureau (CFPB) issued a bulletin cautioning loan servicers about their responsibility to stop any illegal activity related to private student loans that have been discharged...more
On March 16, the Consumer Financial Protection Bureau (CFPB) released a compliance bulletin entitled Unfair Billing and Collection Practices After Bankruptcy Discharges of Certain Student Loan Debts. The compliance bulletin...more
March 8, 2023, the Consumer Financial Protection Bureau (CFPB) released its special edition Supervisory Highlights report, which focuses on Junk Fees found in deposit accounts and multiple loan servicing markets, such as...more
Headlines: CFPB Reminds Credit Bureaus and Furnishers of Their Obligations to Investigate Disputes The CFPB has issued guidance on the obligations of both credit bureaus and furnishers of consumer credit information,...more
In September 2022, the Consumer Financial Protection Bureau (CFPB) released a special edition of Supervisory Highlights regarding recent examination findings related to student loan servicing. The Supervisory Highlights focus...more
Last week, the CFPB issued a “Student Loan Servicing Special Edition” of Supervisory Highlights. In this blog post, we highlight a stealth expansion of supervisory jurisdiction and focus on the CFPB’s findings in two key...more