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Proposed Rules Regulatory Reform Fair Credit Reporting Act (FCRA)

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws its proposed rule on data brokers

On May 15, the CFPB published a Federal Register notice withdrawing its proposed rule on Protecting Americans from Harmful Data Broker Practices (Regulation V). The Bureau decided that this rulemaking was not necessary at...more

Sheppard Mullin Richter & Hampton LLP

CFPB Withdraws Guidance and Proposed Rules on Data Broker, Video Game Payments, and Contract Clauses

On May 15, the CFPB withdrew three Biden-era rulemaking proposals, including a December 2024 proposal to regulate data brokers as consumer reporting agencies under the Fair Credit Reporting Act (FCRA), a January proposal to...more

Troutman Pepper Locke

CFPB Withdraws Proposed FCRA Data Broker Rule

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Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed its decision to withdraw the proposed rule titled “Protecting Americans from Harmful Data Broker Practices (Regulation V)” in the Federal Register....more

Ballard Spahr LLP

CFPB, industry groups ask Federal Judge to kill bureau medical debt rule

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The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to...more

Brownstein Hyatt Farber Schreck

Brownstein Secures Regulatory Relief Promoting Credit Access and Affordability

Over the past several weeks, litigation and government relations efforts have resulted in the accounts receivables management (“ARM”) industry achieving regulatory clarity, which will allow the industry to better serve...more

Holland & Knight LLP

CFPB Grinds to a Halt: Impacts on Industry

Holland & Knight LLP on

U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more

Ballard Spahr LLP

Financial Services trade groups call on CFPB to abandon its data broker proposed rule

Ballard Spahr LLP on

Seventeen financial services trade groups are calling on the CFPB to abandon its plan to amend rules under the Fair Credit Reporting Act (FCRA) to vastly expand the scope of the FCRA by redefining what a “consumer report” is...more

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