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Consumer Financial Protection Bureau (CFPB) Department of Financial Protection and Innovation (DFPI)

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday October 23

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October 22, 2024- The Consumer Financial Protection Bureau finalized the Section 1033 Open Banking rule that requires financial institutions, credit card issuers, and other financial providers to unlock an individual’s...more

Sheppard Mullin Richter & Hampton LLP

DFPI Cracks Down on Illegal Student Loan Debt Relief Practices

On September 30, a credit repair service provider and its owner were ordered to pay $31 million in consumer redress, and a $19 million civil money penalty, when a Massachusetts federal court granted summary judgment for the...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

Ballard Spahr LLP

CFPB Takes Action Against BloomTech, Inc. for ISAs that Violate TILA, UDAAP, and the FTC’s Holder Rule

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On April 17th, the CFPB issued a consent order to a for-profit training school alleging numerous violations of law related to its use if income share agreements (“ISAs”). According to the Bureau, BloomTech, Inc. (“BloomTech”)...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - March 2024 # 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

Davis Wright Tremaine LLP

February 2024 UDAAP Bulletin

Editor's Note: The following document provides a monthly roundup summarizing enforcement actions, guidance, rulemakings, and other public statements from the Consumer Financial Protection Bureau, the Federal Trade Commission,...more

Wiley Rein LLP

Wiley Consumer Protection Download (February 27, 2024)

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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

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2024 # 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

Goodwin

2023 Year in Review: Fintech

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Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2024 # 2

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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

Ballard Spahr LLP

Fintech trade group sends letter to Director Chopra urging CFPB to develop regulatory approach for earned wage access products

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The American Fintech Council (AFC), a trade group whose members include providers of earned wage access (EWA) products, has sent a letter to Director Chopra urging the CFPB to take steps towards development of a “pragmatic...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Small Dollar Lending, Lease-to-Own, and Alternative Financial Services

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to the small dollar lending, lease-to-own, and alternative financial services industries. ...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Fintech

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more

Hudson Cook, LLP

CFPB Bites of the Month - December 2023 - I'm Dreaming of a Winter Solstice and 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 December 2023 webinar....more

Orrick, Herrington & Sutcliffe LLP

CFPB comments on California DFPI licensing provisions, income-based advances

On December 1, the CFPB posted a blog entry sharing its comment letter responding to the California DFPI’s notice of proposed rulemaking for “income-based advances” from earlier this year....more

Ballard Spahr LLP

CFPB comments on California proposal to supervise providers of earned wage access products

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The Consumer Financial Protection Bureau has sent a letter to the California Department of Financial Protection and Innovation (DFPI) commenting on the DFPI’s proposal that would require providers of “income-based advances”...more

Troutman Pepper

CFPB Issues Letter Supporting California DFPI’s Proposed Classification of EWAs as Loans and Promises Guidance as to Federal...

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In March 2023, the California Department of Financial Protection and Innovation (DFPI) proposed new regulations under the California Financing Law that would update the definition of loan to include what it dubs as...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - December 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Troutman Pepper

Well, California Has Decided to Regulate Crypto

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On October 13, California Governor Gavin Newsom (D) signed Assembly Bill 39 (Digital Financial Assets Law). This new law broadly empowers the California Department of Financial Protection and Innovation (DFPI) to govern...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, March 24, 2022

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March 23, 2022- The Federal Reserve Board released a paper titled, "Moldy Lemons and Market Shutdowns," addressing market operations in times of stress. March 23, 2022- The Federal Reserve Board released a paper...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2023 # 4

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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 Finance Services industry over the past week...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2023 # 2

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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 Finance Services industry over the past week...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, September 8, 2023

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September 7, 2023- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Perspectives on Challenges in the Property Insurance Market and the Impact on Consumers."...more

Husch Blackwell LLP

California Finalizes UDAAP Rule for Small Business Financing

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On August 2, 2023, the California Department of Financial Protection and Innovation (DFPI) issued a final rule that prohibits certain persons from engaging in unfair, deceptive, or abusive acts or practices (UDAAP) in...more

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