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Troutman Pepper

A Closer Look at NCUA’s Consumer Financial Protection and Compliance Expectations

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As discussed, in a recent letter, the Chairman of the National Credit Union Administration (NCUA) outlined the agency’s supervisory priorities for 2024. In this post, we delve deeper into the area of consumer protection...more

Wiley Rein LLP

Wiley Consumer Protection Download (January 10, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Sheppard Mullin Richter & Hampton LLP

CFPB Closes Online Lending Fintech for Violating ECOA and CFPB Consent Order

On December 21, an online lending fintech agreed to a stipulated final judgment with the CFPB to resolve a September 2021 complaint alleging that the company deceived consumers and violated the Equal Credit Opportunity Act...more

Troutman Pepper

2020 State Attorney General Actions Offer Guideposts for Companies in the Coming Year

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In 2020, state attorneys general spearheaded regulatory actions that addressed some of the most pressing consumer concerns, reaching resolutions on data breaches, for-profit and automobile financing, opioids, medical devices,...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 7, 2020)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Ballard Spahr LLP

House Financial Services Committee: “rent-a-bank” hearing on Feb. 5; Director Kraninger to testify on Feb. 6

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On Wednesday, February 5, the House Financial Services Committee will hold the first part of a two-part hearing on “rent-a-bank” structures. The hearing is titled “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to...more

Alston & Bird

Washington Amends Consumer Loan Act Regulations: What Mortgage Servicers and Passive Investors Need to Know

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Washington has joined the ranks of states requiring licensing of mortgage servicing rights holders and added tougher rules for recordkeeping, compliance, and offshoring activities. Our Financial Services & Products Group...more

Seyfarth Shaw LLP

Presidential Pulse: 10 Key Ways the Trump Administration May Impact The Way You Do Business in 2017

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Today marks just over a month since Donald Trump was elected as the next President of the United States. As each cabinet appointment is announced, we get more clues to help us predict which direction the Trump...more

Robinson+Cole Data Privacy + Security Insider

New Landmark Consumer Disclosure Rules Trigger Privacy Concerns

The Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage disclosure rule is designed to prevent surprises at the closing table, but with increased transparency come concerns over borrower and seller...more

Ballard Spahr LLP

CFPB lawsuit against pension advance companies could have broader implications

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A new lawsuit, filed by the CFPB and the New York Department of Financial Services(NY DFS) in a California federal court against two pension advance companies and three of the companies’ individual managers, again...more

Ballard Spahr LLP

CFPB files lawsuit against Internet payday loan companies

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The CFPB has filed a complaint in federal district court in New York against a group of commonly-controlled companies for allegedly engaging in unlawful conduct in connection with making payday loans over the Internet. With...more

Ballard Spahr LLP

Treasury Department Seeks Information on Online Marketplace Lending

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The U.S. Department of the Treasury has issued a request for information (RFI) regarding online marketplace lending. The RFI reflects the Treasury Department’s recognition that online marketplace lending “is a rapidly...more

Buchalter

The Consumer Financial Protection Bureau (CFPB): The New Federal Landscape For Lenders and Servicers

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Following the recession and financial crisis of the late 2000s, the “Bureau of Consumer Financial Protection”—commonly known as the Consumer Financial Protection Bureau (CFPB)—was created. Aimed at promoting “fairness and...more

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