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Consumer Financial Protection Bureau (CFPB) Larger Participant

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 15: Bank-like Supervision for Big Tech? A Look at the CFPB’s “Larger Participant” Rule

The CFPB’s proposed rulemaking on digital wallets and payment apps would bring new regulatory supervision and compliance obligations to technology companies. RegFi co-hosts Jerry Buckley, Sasha Leonhardt, Sherry Safchuk and...more

Bryan Cave Leighton Paisner

The CFPB’s Examination Authority Over MSBs

New and existing money services businesses frequently ask when or if the CFPB will “examine” them. All consumer financial services businesses naturally worry about the CFPB’s reach and want to be prepared. This article...more

Williams Mullen

CFPB Issues Final Rules Regulating Automobile Financing, as Permitted by Dodd-Frank

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On Tuesday, June 30, the Consumer Financial Protection Bureau (the “Bureau”) published its final rule in the Federal Register to expand the definition of “larger participants” in the financial product and service markets to...more

Locke Lord LLP

Locke Lord QuickStudy: CFPB Releases Spring 2015 Regulatory Agenda

Locke Lord LLP on

On Friday, May 22, 2015, the CFPB released its Spring 2015 Rulemaking Agenda (Agenda), as mandated by the Regulatory Flexibility Act. These biannual agendas generally include details regarding rulemaking activity at the...more

Burr & Forman

Dodd-Frank News: October 2014: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on

In This Issue: - RECENT CASES .. Mortgage Servicing Rules .. Antiretaliation Provision ..Credit Default Swaps Antitrust Litigation ..CFPB Involvement in Litigation - IN THE...more

Ballard Spahr LLP

CFPB Releases Report on Fair Credit Exams and White Paper on Proxy Methodology

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Along with its proposed larger participant rule for the auto financing market, the Consumer Financial Protection Bureau issued a special edition of Supervisory Highlights (the "report") describing its fair credit supervisory...more

Eversheds Sutherland (US) LLP

Legal Alert: CFPB Proposes to Examine and Directly Supervise Nonbank Auto Lenders

On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. The proposed rule can be found here. Under the...more

Davis Wright Tremaine LLP

CFPB Subjects Large International Money Transmitters to Supervision

The Consumer Financial Protection Bureau (CFPB) finalized its rulemaking defining larger participants in the international money transfer market. Companies that engage in at least one million international money transfers...more

Neal, Gerber & Eisenberg LLP

The CFPB Eyes Supervisory Regulation Over Large Auto-Lenders

Large auto-lenders may soon have to contend with a new regulator. In its most recent semi-annual report, the Consumer Financial Protection Bureau (“CFPB”) highlighted its intent to promulgate a new rule which would subject...more

Eversheds Sutherland (US) LLP

CFPB Plans Supervision of Nonbank Automobile Lenders

In a May 23, 2014 blog post by Kelly Cochran, Assistant Director of Regulation, the Consumer Financial Protection Bureau indicated that it is working on a “larger participant” rule for nonbank automobile lenders pursuant to...more

Troutman Pepper

The CFPB Issues Proposed International Money Transfer Larger Participant Rule

Troutman Pepper on

Proposed rule would subject international money transmitters with at least one million aggregate annual transfers to the CFPB’s supervision and examination of compliance with federal consumer financial laws. ...more

Goodwin

CFPB Proposes Rule to Define Larger Participants of the International Money Transfer Market

Goodwin on

Noting the challenges to providers and consumers, the CFPB issued a proposed rule to define “larger participants” of the international money transfer market that, when finalized, will hold certain nonbank international money...more

Foley & Lardner LLP

CFPB Proposes New “Larger Participants” Rule for Non-Bank International Money Transmitters

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (CFPB) has proposed a new rule to define “larger participants” of the market for non-bank international money transfers. Comments to the proposed rule will be accepted by the CFPB for...more

Morrison & Foerster LLP

CFPB Proposes Definition of Larger Participants for the International Money Transfer Market

On January 23, 2014, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would define which nonbank covered persons would be designated “larger participants” for purposes of the international money...more

Ballard Spahr LLP

CFPB issues proposal to supervise “larger participant” international money transfer providers

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We had been expecting the CFPB’s next “larger participant” proposal to be a rule for the auto finance market. Instead, the CFPB issued a proposed rule yesterday that would allow it to supervise nonbank international money...more

Ballard Spahr LLP

CFPB Issues Final Debt Collection Larger Participant Rule and Examination Procedures

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The Consumer Financial Protection Bureau has issued its long-awaited final rule defining larger participants of a market for consumer debt collection. The rule is effective January 2, 2013. To enable its examiners to...more

Ballard Spahr LLP

Just who really is a larger participant?

Ballard Spahr LLP on

In February, the CFPB published its proposed rule defining larger participants in the debt collection and credit reporting industries. In general, the proposal advised that the CFPB would be guided by and would use a...more

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