Consumer Finance Monitor Podcast Episode: How the CFPB Is Using Interpretive Rules to Expand Regulatory Requirements for Innovative Consumer Financial Products; Part Two: Earned Wage Access
Earned Wage Access: Exploring the CFPB's Proposed Interpretive Rule — Payments Pros – The Payments Law Podcast
Earned Wage Access: Exploring the CFPB's Proposed Interpretive Rule — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: Buy Now, Pay Later – Evolution, Regulation, and What You Need to Know about the CFPB Interpretive Rule Effective July 30
An In-Depth Analysis of the CFPB's Proposed Overdraft Rule — Payments Pros – The Payments Law Podcast
An In-Depth Analysis of the CFPB’s Proposed Overdraft Rule - The Consumer Finance Podcast
Exploring the Future of Open Banking: A Discussion on CFPB's 1033 Proposed Rule – Crossover Episode With Regulatory Oversight Podcast – The Consumer Finance Podcast
CFPB's Section 1071 Final Rule (Part 3): Potential Problem Areas – The Consumer Finance Podcast
CFPB's Policy Statement on Abusiveness (Part 2) - The Consumer Finance Podcast
A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
In a recent case, the United States District Court for the District of Connecticut granted a motion to dismiss, finding that the Defendant had no obligation to provide disclosures under the Truth in Lending Act (TILA) during...more
The Fair Credit Billing Act is not nearly as well-known to creditors and their counsel as its “fair credit” brother, the Fair Credit Reporting Act. But the FCBA is becoming increasingly popular among litigants — often pro se...more
Health care providers often find themselves in the position of collecting direct payments for medical services through patient payment plans. While providers must adhere to a myriad of health care laws when doing so, they...more
On September 13, 2024, the United States Court for the District of Massachusetts dismissed a pro se litigant’s claims against four executives of a bank for alleged violations of the Truth in Lending Act (TILA) and certain...more
The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more
On August 13, the CFPB released an advisory opinion regarding home purchases under a “contract for deed” and how the purchases must comply with federal mortgage protections. The advisory opinion stated the contract for deed...more
The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format reflects McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more
On June 5, 2024, the United States District Court for the Southern District of New York issued a decision adopting in its entirety the May 13, 2024, Report and Recommendation regarding the Truth in Lending Act (TILA). The...more
The Consumer Financial Protection Bureau's interpretative rule provides that traditional "Buy Now, Pay Later" (BNPL) products – closed-end loans that do not have a finance charge and are repaid in four installments – are...more
The Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 amended TILA to require the CFPB to issue rulemaking addressing Property Assessed Clean Energy (PACE) loans. Specifically, the Act required the CFPB...more
On April 11, the U.S. Court of Appeals for the Third Circuit upheld the dismissal of a putative class action suit claiming a national bank’s failure to itemize fees in its credit card renewal notices violated TILA and...more
In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more
The Consumer Financial Protection Bureau (CFPB) recently issued a proposed rule to create a new category of Seasoned Qualified Mortgages (QMs). The proposal seeks to “encourage safe and responsible innovation in the mortgage...more
As previously reported, the Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act), also known as S.2155, directs the CFPB to implement an exemption from the mandatory escrow account requirement for...more
While the COVID-19 pandemic has led to the adoption of certain piecemeal consumer protection policies and/or guidances by individual states and the federal government, there have yet to be any sweeping changes to existing...more
I frequently hear creditors complain about issues they face when trying to confirm that one of their customers has and will maintain the property insurance required by the retail installment contract. For instance, some...more
On Friday, July 29, 2016, the Consumer Financial Protection Bureau (CFPB) proposed revisions to the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) Integrated Disclosure Rule (the “TRID Rule”),...more
The Ninth Circuit Court of Appeals recently ruled that a 2009 amendment to the Truth in Lending Act (TILA) does not apply retroactively. In a putative class action, Plaintiffs Mohammad and Rosa Talaie brought a claim...more
The CFPB has launched its new online tool created to assist creditors in determining whether a property is located within a rural or underserved area as defined by the CFPB....more
On October 1, 2015, the Consumer Financial Protection Bureau (CFPB) announced its second enforcement action in three days against an indirect auto finance company. In its latest action, the CFPB took aim at indirect auto...more
The CFPB has issued a final rule that revises the definitions of “small creditor” and “rural areas” under Regulation Z of the Truth in Lending Act (TILA). The final rule is effective January 1, 2016. We previously reported on...more
On October 1, 2014, the CFPB staff and Federal Reserve Board co-hosted a webinar that addressed questions about the Final TILA-RESPA Integrated Disclosure Rule that will be effective for applications received by creditors or...more
On August 26, 2014, the CFPB staff and Federal Reserve Board co-hosted a webinar and addressed questions about the final TILA-RESPA Integrated Disclosures Rule that will be effective for applications received by creditors or...more
On June 17, 2014, the CFPB staff and Federal Reserve co-hosted a webinar on the final TILA-RESPA Integrated Disclosures Rule that will be effective for applications received by creditors or mortgage brokers on or after August...more