News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Financial Abuse

Husch Blackwell LLP

A Closer Look at New York's Proposed Abusiveness Prohibition

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In January, New York Governor Kathy Hochul introduced a budget bill that proposed the headline-grabbing Buy Now Pay Later licensing regime. Less attention has been given to another proposed provision: adding a prohibition on...more

Shipkevich PLLC

FTC Takes Aggressive Approach Toward Amazon, Alleging Consumer Protection-Type Violations: Are the Lines Between FTC and CFPB...

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On June 21, 2023, the Federal Trade Commission (FTC) filed a civil lawsuit against Amazon, alleging the use of "dark patterns" to deceive consumers into enrolling in automatically renewing Prime subscriptions. What is...more

Goodwin

CFPB Issues Guidance on Abusive Conduct Under CFPA

Goodwin on

On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued a policy statement with guidance on what constitutes “abusive conduct” under the Consumer Financial Protection Act (CFPA)....more

Shipkevich PLLC

CFPB Releases New Policy Statement on Abusive Practices: What You Need to Know

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On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) issued a policy statement summarizing over a decade of precedent and explaining the legal prohibition on abusive conduct in consumer financial markets. The...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2022

Headlines - ..FDIC Proposes Substantial Increase in Deposit Insurance Assessment Rates ..Federal Reserve Releases New CECL Implementation Tool: Expected Losses ..Estimator OCC Report Highlights Risks Facing the Federal...more

Goodwin

CFPB Rescinds Short-Lived Guidance on Dodd-Frank’s Abusiveness Standard

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On March 11, 2021, the Consumer Financial Protection Bureau (CFPB) announced that it is rescinding its January 2020 policy statement (the 2020 Policy) providing guidance into its enforcement of the “abusiveness” standard...more

BCLP

Consumer Financial Services and Fintech Enforcement Trends in New York

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The New York Department of Financial Services (NYDFS) is New York’s primary regulator of financial institutions, consumer protection, and financial activity.  With jurisdiction over more than 1,500 financial institutions, the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2020

The FDIC and OCC have issued new guidance for banks on heightened cybersecurity risks facing the financial services industry because of increased geopolitical tensions and threats of aggression. The guidance published on...more

Ballard Spahr LLP

CFPB report on community networks to combat elder financial abuse and resource guide highlight role of financial institutions

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The CFPB has issued a new elder financial abuse report, “Report and Recommendations: Fighting Elder Financial Exploitation through Community Networks,” and a related resource guide, “A Resource Guide for Elder Financial...more

Ballard Spahr LLP

CFPB issues advisory and report on elder financial abuse

Ballard Spahr LLP on

The CFPB has issued an advisory and a report with recommendations for banks and credit unions on how to prevent, recognize, report, and respond to financial exploitation of older Americans. The CFPB’s press release describes...more

Ballard Spahr LLP

CFPB to hold event on financial management for seniors

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The CFPB has announced that it will hold an event in Springfield, Virginia on August 17, 2015 about financial management for seniors and their caregivers. The event will feature remarks from Director Cordray and Virginia...more

McGuireWoods LLP

CFPB Targets Practices Impacting the Elderly

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On July 13, the Consumer Financial Protection Bureau (CFPB) Director Richard Cordray delivered remarks at the White House Conference on Aging and signaled the CFPB’s plans to issue an advisory later in 2015 to assist...more

Ballard Spahr LLP

CFPB Joins Forces with FDIC on Spanish-Language Tool to Prevent Senior Financial Abuse

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Recently the CFPB joined the FDIC’s program against financial abuse of senior citizens by cooperating on the creation of a Spanish language tool for Hispanic seniors. We have previously blogged about the CFPB’s initiatives to...more

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