Popular, UDAAP | JD Supra

CFPB Bites of the Month - August 2024 - All That's Left of the CFPB's Summer Sky

Hudson Cook, LLP on 8/28/2024

In this month's article, we share some of our top "bites" for the prior and current month covered during the August 2024 webinar....more

CFPB Announces Proposed Rule Regarding Nonsufficient Funds Fees

Foley & Lardner LLP on 5/13/2024

On Wednesday, January 24, 2024, the Consumer Financial Protection Bureau (CFPB) announced a Proposed Rule aimed at blocking nonsufficient funds (NSF) fees on debit card, ATM, and certain peer-to-peer payment transactions that...more

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

Jenner & Block on 1/12/2024

As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

All Consuming - Financial Litigation Insights, Issue 10, 2022

Spilman Thomas & Battle, PLLC on 12/7/2022

A recent survey by PricewaterhouseCoopers revealed that U.S. executives now consider cyberattacks the number one risk their companies face. Concerns about cybersecurity have moved beyond the Chief Information Security Office...more

CFPB Warns Digital Marketers, Loops In State AGs

Jenner & Block on 9/22/2022

In a recent interpretive rule announced on August 10, 2022,—and unveiled at a summit of the National Association of Attorneys General—the CFPB stated that digital marketers are subject to the CFPB’s jurisdiction, and...more

CFPB to make organizational changes

Ballard Spahr LLP on 7/22/2022

According to media reports, CFPB Deputy Director Martinez sent a memo to staff last week announcing the following organizational changes...more

CFPB Targets Convenience Fees

Cooley LLP on 7/11/2022

On June 29, 2022, the Consumer Financial Protection Bureau issued an advisory opinion declaring that the Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from collecting “pay-to-pay” or convenience fees...more

CFPB Takes Adverse Action Against Machine Learning

McGlinchey Stafford on 6/6/2022

The Consumer Financial Protection Bureau (CFPB) has been contemplating data, algorithms, and machine learning for years. In 2017, as part of a field hearing on alternative data, the CFPB issued a request for information in...more

Connecticut Banking Dept. issues cease and desist order to stop fintech loan finder from operating without small loan license

Ballard Spahr LLP on 5/20/2022

The Connecticut Department of Banking (“Department”) has issued a temporary cease and desist order (“Order”) that directs SoLo Funds, Inc., (“SoLo”) a fintech company that uses peer-to-peer technology to assist consumers in...more

Federal Efforts Introduced to Protect Non-HIPAA Health Data

Wiley Rein LLP on 4/25/2022

Under federal law, much of the health data recorded from wearable devices, health care applications, and health IoT devices is beyond the reach of the Health Insurance Portability and Accountability Act (HIPAA), which...more

Google’s Privacy “Data Safety” Form Is Now Available

Sheppard Mullin Richter & Hampton LLP on 11/29/2021

Google Play’s “data safety form” is now live. Developers can now submit the form for early review and feedback. Starting in April 2022, Google will require this label and a privacy policy for all new and existing apps. This...more

Wiley Consumer Protection Download (December 7, 2020)

Wiley Rein LLP on 12/7/2020

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

New UDAAP Guidance Is Relevant to OCC-Regulated and Nonregulated Institutions Alike

Skadden, Arps, Slate, Meagher & Flom LLP on 9/26/2020

In late June 2020, the Office of the Comptroller of the Currency issued a new booklet on “Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices” (the UDAAP booklet), setting forth a...more

California and New York governors expand consumer financial protection

McGuireWoods LLP on 1/16/2020

California and New York are taking the lead to expand consumer financial protection, in part to smooth out the ebb and flow of federal policy and enforcement at the CFPB. Within a few days of each other, Governor Gavin...more

Will the CFPB find its Voice on “Abusiveness”?

Alston & Bird on 7/9/2019

On June 25, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) kicked off its symposia series with a panel discussion of whether the Bureau should use its rulemaking authority to further define “abusive acts or...more

The CFPB’s Debt-Collection Proposal: Key Details and Webinar

McGuireWoods LLP on 5/20/2019

This post follows up on our earlier “primer” and flash alert on the Consumer Financial Protection Bureau’s proposed rule (the proposal) to implement the Fair Debt Collection Practices Act, which the CFPB released with a Fact...more

Primer on the CFPB’s Imminent Fair Debt Collection Practices Act Rule Proposal

McGuireWoods LLP on 5/6/2019

As soon as next week, the Consumer Financial Protection Bureau (CFPB) is expected to propose the first substantive regulations under the Fair Debt Collection Practices Act (FDCPA) since the law’s enactment in 1977. This...more

Primer on the CFPB's Imminent Fair Debt Collection Practices Act Rule Proposal

McGuireWoods LLP on 5/2/2019

As soon as next week, the Consumer Financial Protection Bureau (CFPB) is expected to propose the first substantive regulations under the Fair Debt Collection Practices Act (FDCPA) since the law’s enactment in 1977. This...more

Quarterly Regulatory and Legal Update for E-Commerce, E-Banking, and Blockchain

Wilson Sonsini Goodrich & Rosati on 4/18/2019

This Quarterly Update highlights certain notable developments during Q1 2019 in consumer-facing areas of e-commerce, e-banking and blockchain. This update is particularly focused on consumer-level regulatory activities of the...more

State Attorneys General Criticize the CFPB’s Proposal to Create a Fintech Regulatory Sandbox and Revise its No-Action Letter...

Kilpatrick on 2/14/2019

We have previously reported on the initiatives of the Consumer Financial Protection Bureau (CFPB or Bureau) to foster innovation in the fintech sector. In December 2018, the CFPB issued proposed revisions to its 2016 final...more

Regulatory Landscape for Fintech, Electronic Commerce, and Electronic Banking: Part One

Wilson Sonsini Goodrich & Rosati on 2/8/2019

Part 1: Electronic Commerce - This is the first part of a two-part article discussing the regulatory landscape for financial technology as applied to electronic commerce and electronic banking. This article focuses on...more

Fintech in Brief: Issues to Consider in Connection with the CFPB’s Proposed Product Sandbox and Policy Changes for No-Action...

Nutter McClennen & Fish LLP on 1/8/2019

Bank, nonbank, and Fintech providers of consumer financial products and services may be able to reduce their exposure to compliance risk under the December 13, 2018 No Action Letter (“NAL”) Policy changes proposed by the...more

Today's Popular Updates › UDAAP