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Proposed Rules Contract Terms Consumer Financial Protection Act (CFPA)

Orrick, Herrington & Sutcliffe LLP

CFPB issues new proposal to ban certain financial contract terms

On January 13, the CFPB proposed a new rule to ban large banks and consumer finance companies from using certain contractual provisions in agreements with consumers under Regulation AA. The CFPB’s proposal warns against the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Rule to Protect Consumers from Unfair Contract Clauses

On January 13, 2025, the CFPB announced a proposed rule aimed at prohibiting companies from including in consumer agreements terms that operate to waive consumers’ legal rights, allow companies to unilaterally change key...more

Venable LLP

CFPB's Proposed Rule Targets Consumer Financial Contracts

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) issued a proposed rule under Regulation AA to address the use of restrictive and coercive clauses in consumer financial contracts. This proposal seeks to prohibit terms in...more

Troutman Pepper Locke

CFPB Introduces New Rule Banning Certain Contractual Provisions in Consumer Financial Agreements

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements for consumer financial products or services. The CFPB’s proposal targets certain...more

Hinch Newman LLP

CFPB Warns Against Deception in Contracts for Consumer Financial Products and Services

Hinch Newman LLP on

On June 4, 2024, the Consumer Financial Protection Bureau issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. According to the...more

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