News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Consumer Lenders Banking Sector

Orrick, Herrington & Sutcliffe LLP

DOJ, CFPB file complaint, propose order against mortgage company for alleged redlining

On October 15, the CFPB and DOJ announced an enforcement action against a mortgage company, alleging it engaged in redlining against majority-Black neighborhoods in the greater Birmingham, Alabama area. According to the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 5

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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

Hudson Cook, LLP

CFPB Bites of the Month - March 2024 - Here Comes the Sun and the CFPB

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In this month's article, we share some of our top "bites" covered during the March 2024 webinar. Bite 10: CFPB Issues Statement on Privacy and Personal Data - On February 28, 2024, the CFPB issued a statement on...more

Troutman Pepper

Instant Decline, Instant Relief? Unpacking the CFPB's Proposed Rule on NSF Fees — Payments Pros: The Payments Law Podcast

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In this episode of Payments Pros, co-hosts Keith Barnett and Carlin McCrory discuss the Consumer Financial Protection Bureau's (CFPB) latest proposed rule. This rule aims to prohibit covered financial institutions from...more

Orrick, Herrington & Sutcliffe LLP

CFPB Order Makes it Clear: Nonbanks Should Prepare for CFPB Supervision

The CFPB recently published a decision and order subjecting a nonbank consumer lender to its supervisory authority based on its determination that the lender may be “engaging, or has engaged, in conduct that poses risks to...more

Troutman Pepper

Year in Review and a Look Ahead: Fintech Developments — The Consumer Finance Podcast

Troutman Pepper on

Join us for the second episode of our Year in Review and a Look Ahead series, where we delve into the fintech world. Our host, Chris Willis, co-leader of Troutman Pepper's Consumer Financial Services Regulatory practice, is...more

Holland & Knight LLP

The CFPB Targets Data Brokers with Latest Proposed Rule

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In this episode of his "Clearly Conspicuous" podcast series, "The CFPB Targets Data Brokers with Latest Proposed Rule," consumer protection attorney Anthony DiResta shares his insight on the Consumer Financial Protection...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Nondiscrimination and Military Protection Law

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more

Katten Muchin Rosenman LLP

The Latest Chapter in the Government's War on Purported "Junk" Fees: The CFPB Moves to Define Overdraft Services as Credit and to...

On January 17, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Notice of Proposed Rulemaking regarding proposed changes to overdraft fee rules for certain banks and credit unions. In the widely...more

Hudson Cook, LLP

CFPB Orders National Bank to Pay Nearly $21 Million For Alleged Misconduct Relating to COVID-era Unemployment Payments

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On December 19, 2023, the CFPB issued an administrative consent order alleging that a Minneapolis-based National Bank inappropriately froze the accounts of "tens of thousands" of recipients of unemployment benefits via...more

Brownstein Hyatt Farber Schreck

A Look Ahead into Financial Services Policy in 2024

House Financial Services Committee Chair Patrick McHenry’s (R-NC) announcement to retire at the end of the 118th Congress on Dec. 5 sent shockwaves throughout the financial services space, setting up a potentially...more

Alston & Bird

Payments Docket – December 2023

Alston & Bird on

The latest edition of the Payments Docket, our roundup of key litigation involving the payments industry, features fintechs and nonbanks continuing to face regulatory scrutiny, a pair of processors failing to process...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 10: Raj Date Foresees Unprecedented Change in Financial Services Sector. Regulators’ Challenge: Keeping Pace

Raj Date, who took the lead in standing up the CFPB 12 years ago, sees significant and accelerating change ahead for the financial services industry. Whether regulators can keep up — protecting financial stability without...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Consumer Finance Impact of a CFPB Run Amok

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Switching from his usual role as frequent host of the Consumer Finance Monitor Podcast, Alan Kaplinsky, Senior Counsel in and former Practice Group Leader of Ballard Spahr’s Consumer Financial Services Group, was recently the...more

Hudson Cook, LLP

CFPB Bites of the Month - November 2023 - Giving Thanks to the CFPB

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In this month's article, we share some of our top "bites" for the prior month covered during the November 2023 webinar....more

Troutman Pepper

The Impact of State Licensing Laws — The Consumer Finance Podcast

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Join Troutman Pepper Partner Chris Willis and his colleagues Joe Reilly and Chris Capurso as they discuss the impact of state licensing laws on the consumer financial services industry. They tackle topics such as: - When did...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2023

The federal banking agencies have jointly issued a final rule that will modify how examiners assess compliance with the Community Reinvestment Act (CRA). Among other changes to the CRA regulations announced on October 24, the...more

Orrick, Herrington & Sutcliffe LLP

RegFi Special Episode: The CFPB's 1033 Rule in a Nutshell

Join us for this bonus episode where the RegFi hosts share their initial reactions to the CFPB’s proposed rule on Personal Financial Data Rights. The proposed rule, which implements Section 1033 of the Dodd-Frank Act,...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The FTC's Updates to its Guides on the Use of Endorsements and Testimonials in...

Ballard Spahr LLP on

Our special guest is Michael Ostheimer, Senior Consumer Protection Attorney in the FTC’s Division of Advertising Practices. In June 2023, the FTC updated its guides that set forth the FTC’s position on how Section 5 of the...more

Troutman Pepper

Update on the CFPB's Section 1071 Final Rule - The Consumer Finance Podcast

Troutman Pepper on

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield and Joe Reilly for an important update on the Consumer Financial Protection Bureau's (CFPB) new small business lending data collection and...more

Orrick, Herrington & Sutcliffe LLP

CFPB sues installment lending conglomerate

On August 22, the CFPB announced it is suing a lending company and its subsidiaries that provide installment loans as a refinance option to consumers who have difficulty paying their existing loans. According to the...more

Katten Muchin Rosenman LLP

Federal Court Grants Bankers' Requested Stay from Compliance with the CFPB's Small Business Data Collection Rule

On July 31, the US District Court for the Southern District of Texas issued an order granting in part and denying in part the motion for preliminary injunction filed by the Texas Bankers Association, Rio Bank (a Texas...more

Katten Muchin Rosenman LLP

CFPB's Focus on Standard-Form Consumer Agreements Warrants 'Fresh Eyes' on Consumer Template Disclosures

On April 3, the Consumer Financial Protection Bureau (CFPB) published its Policy Statement on Abusive Acts or Practices(Policy Statement or Statement). Notably, in connection with the Policy Statement's issuance, the CFPB...more

Katten Muchin Rosenman LLP

Regulatory Interest in Fair Lending Spikes

Although always a significant focus of consumer lending, recent regulatory actions and pronouncements illustrate the sharp focus fair lending issues are receiving by both federal financial regulators and research bureaus....more

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