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Notice Requirements Consumer Financial Protection Bureau (CFPB)

Venable LLP

CFPB Weighs in on Credit Denials by Lenders When Using AI and Complex Credit Models

Venable LLP on

The CFPB has issued a Circular addressing adverse action notification requirements and the proper use of the CFPB's sample forms provided in Regulation B when using artificial intelligence (AI) and complex credit models, and...more

Ballard Spahr LLP

CFPB Revisits Adverse Action Notice Requirements When Using Artificial Intelligence or Complex Credit Models

Ballard Spahr LLP on

In May 2022, the CFPB issued Circular 2022-3 addressing Equal Credit Opportunity Act (ECOA) adverse action notice requirements in connection with credit decisions based on algorithms. The CFPB is now revisiting the issue in...more

Ballard Spahr LLP

FTC recommends use of written adverse action notices by housing providers

Ballard Spahr LLP on

A new FTC blog post titled “Tenant background check reports: Put it in writing” reminds landlords, property managers, and other housing providers of their obligation under the Fair Credit Reporting Act to provide notice of...more

Fisher Phillips

Top Workplace Law Stories You May Have Missed from March 2023

Fisher Phillips on

It’s hard to keep up with all the recent changes to labor and employment law. While the law always seems to evolve at a rapid pace, there have been an unprecedented number of changes for the past few years — and this past...more

Fisher Phillips

Employers Must Update Their Summary of Rights Notice for Background Check Screenings

Fisher Phillips on

Employers should promptly update their Summary of Consumer Rights notice provided to applicants and workers before taking adverse employment action based on their background check reports, thanks to a new rule about to take...more

Venable LLP

Ninth Circuit Rejects Dark Patterns Challenge to Arbitration Agreement

Venable LLP on

The Ninth Circuit has never been shy about declining to compel arbitration, and the Court has issued multiple cases outlining what constitutes sufficient notice of certain provisions in consumer-facing terms and conditions,...more

Venable LLP

Ninth Circuit Upholds Dismissal of Autorenewal Lawsuit, Finds Disclosure, Consent, and Acknowledgment Sufficient

Venable LLP on

In January, the Ninth Circuit agreed with a California district court's finding that a software company's autorenewal practices did not violate California's autorenewal law. The decision reflects a win for companies offering...more

Sheppard Mullin Richter & Hampton LLP

CFPB Starts Year Seeking Comments on Proposals to Give Consumers Enhanced Control of Financial Data

Recently, the CFPB released an outline of proposed measures related to the Bureau’s Dodd-Frank Section 1033 rulemaking efforts that would allow consumers to take control of their personal financial data and determine which...more

Sheppard Mullin Richter & Hampton LLP

CFPB Affirms Compliance with ECOA Adverse Action Notice Requirements

On May 26, the CFPB published a circular affirming that federal anti-discrimination laws require companies to explain to consumers the specific reason a credit application was denied, even if the creditor is relying on...more

Moore & Van Allen PLLC

CFPB Announces LIBOR Transition’s Final Rule, Amending Provisions of Regulation Z

On December 7, 2021, the Consumer Financial Protection Bureau (“CFPB”) published its final rule (“Rule”) facilitating the transition away from LIBOR for open-end and closed-end consumer financial products. The Rule amends...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2021

Federal Banking Agencies Publish Policy Road Map for Crypto-Asset Activities - The federal banking agencies have issued a joint statement summarizing their interagency “policy sprints” focused on crypto-asset activities...more

Bradley Arant Boult Cummings LLP

CFPB Issues Debt Collection Guidance and Creates More Uncertainty for Mortgage Servicers

On October 29, 2021 — just 32 days prior to the November 30, 2021 effective date — the Consumer Financial Protection Bureau (CFPB) released new guidance regarding the debt validation notice requirements that are part of the...more

Epiq

New CFPB Guidance has Loan Servicers Rethinking Communication Strategies

Epiq on

On April 1, 2021, the Consumer Financial Protection Bureau (CFPB) issued a Compliance Bulletin titled “Supervision and Enforcement Priorities Regarding Housing Insecurity”. The bulletin provided guidance on efforts that...more

Dentons

Sample language for debt collectors in eviction matters.

Dentons on

Abstract: United States: Consumer Financial Protection Bureau provides sample disclosure language and guidance regarding its new rule imposed upon debt collectors of landlords. Debt collectors, as defined under the Fair...more

Dentons

Consumer Financial Protection Bureau issues interim final rule requiring debt collectors to provide affirmative notice of the CDC...

Dentons on

On April 19, 2021, the Consumer Financial Protection Bureau (CFPB) issued an Interim Final Rule and press release in support of the Centers for Disease Control and Prevention Order, which temporarily halts certain residential...more

Smith Debnam Narron Drake Saintsing & Myers,...

Picking Apart the Validation Notice Requirements Under the Debt Collection Rule

While it remains to be seen what, if any, changes a change in leadership in the CFPB will bring to the Debt Collection Rule, for now collection agencies should begin readying themselves for a November 30th effective date. Now...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2021

Updated Annual Meeting Guidance for Mutual Banks and Mutual Holding Companies - The Massachusetts Division of Banks has issued new guidance to mutual banks and mutual holding companies that have not yet held their 2020...more

Ballard Spahr LLP

First CFPB Tech Sprint to be held on Oct. 5-9 to improve consumer adverse action notices

Ballard Spahr LLP on

The CFPB announced that it will hold its first Tech Sprint on October 5-9, 2020, with the participating teams to be focused on “developing a range of innovative approaches to electronically-delivered adverse action notices”...more

Hudson Cook, LLP

Actions Speak Louder than Words

Hudson Cook, LLP on

One of my all-time favorite sayings is “actions speaker louder than words.” Or, in other words, what you do has a stronger impact on people than what you say.  I can think of no better application of that maxim than to the...more

Ballard Spahr LLP

Seventh Circuit FDCPA decision has implications for CFPB’s approach to validation notices in its proposed debt collection rules

Ballard Spahr LLP on

In its proposed debt collection rules, the CFPB would allow a debt collector to satisfy the FDCPA requirement to provide the validation notice by sending the debtor an email or text message that includes a hyperlink to a...more

Hudson Cook, LLP

New(ish) Technology and the CFPB's Proposed Debt Collection Rule

Hudson Cook, LLP on

On May 7, 2019, the Consumer Financial Protection Bureau ("CFPB" or the Bureau") released its Fair Debt Collection Practices Act ("FDCPA") Notice of Proposed Rulemaking ("Proposals") and Request for Public Comment. The Bureau...more

Baker Donelson

CFPB's New Final Rule Could Have Big Impact on Privacy Requirements

Baker Donelson on

The Consumer Financial Protection Bureau (CFPB) has issued its final rule adopting changes to Regulation P, which governs the requirements for financial institutions to issue privacy notices to its customers....more

Bradley Arant Boult Cummings LLP

Background Check Update: There’s A New FCRA Form in Town

If you conduct pre-hire background checks, you know you have to comply with the Fair Credit Reporting Act (FCRA) or risk trouble (called lawsuits). Part of that compliance is providing notice to the applicant if you are going...more

Stinson LLP

Employers Must Update Summary of Rights Notice After FCRA Amendment

Stinson LLP on

Amendments affecting notice requirements under the Fair Credit Reporting Act (FCRA) went into effect on September 21, 2018. These amendments were part of the Economic Growth, Regulatory Relief, and Consumer Protection Act...more

Pillsbury Winthrop Shaw Pittman LLP

The New Freeze on Background Check Forms

Employers must update forms in conformity with amendments to the Fair Credit Reporting Act - As of September 21, 2018, employers must begin providing employees and applicants with the updated Summary of Consumer Rights....more

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JD Supra Privacy Policy

Updated: Dec 28, 2021:

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Information for EU and Swiss Residents

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

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California Privacy Rights

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Privacy Officer
JD Supra, LLC
150 Harbor Drive, #2760
Sausalito, CA 94965

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Changes in Our Privacy Policy

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Contacting JD Supra

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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