News & Analysis as of

Consumer Lenders Financial Institutions

Venable LLP

Navigating the CFPB's Personal Financial Data Rights Rule: What Financial Institutions Need to Know

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) has finalized the much-anticipated Personal Financial Data Rights Rule, 12 CFR 1033, a sweeping regulation that will have profound implications for data providers in the...more

GeoDataVision

Have Regulators Already “Raised the Bar” for CRA Exams?

GeoDataVision on

When the new 2023 CRA Rule was approved by regulators FDIC Chairman Martin Gruenberg indicated one of the goals was to “raise the bar” for CRA performance ratings. Now that the final 2023 CRA performance ratings are in it...more

Ballard Spahr LLP

Chopra says CFPB finalizing medical debt rule; agency issues advisory opinion on debt collector practices

Ballard Spahr LLP on

The CFPB is in the process of completing its final rule intended to ban the inclusion of medical debts in credit reports, bureau Director Rohit Chopra said at a White House session intended to focus on practices in the...more

Troutman Pepper

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

Troutman Pepper on

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

Judge refuses to dismiss most reverse discrimination counts in case against Colony Ridge

Ballard Spahr LLP on

Saying that reverse redlining is a form of discrimination, the U.S. District Court for the Southern District of Texas has refused to dismiss a discrimination case alleging that Texas developer Colony Ridge specifically...more

Ballard Spahr LLP

Case in which CFPB came to financial institutions’ defense dismissed

Ballard Spahr LLP on

An Illinois federal judge has dismissed a proposed class action lawsuit that alleged that two Midwestern banks failed to provide repayment disclosures to borrowers, in a case that was unique because the CFPB came to the...more

Troutman Pepper

CFPB Intensifies Scrutiny on Medical Debt Collection Practices

Troutman Pepper on

On October 1, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion aimed at debt collectors and emphasizing their obligations under the Fair Debt Collection Practices Act (FDCPA) and Regulation...more

Troutman Pepper

CFPB Proposes Amendments to Disclosure Requirements Under Remittance Transfer Rule

Troutman Pepper on

On September 20, the Consumer Financial Protection Bureau (CFPB or Bureau) announced a proposed rule aimed at amending the disclosure requirements for international money transfers, commonly known as remittances. The proposed...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2024

Troutman Pepper on

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

Troutman Pepper

CFPB's Focus on Student Loan Servicing: Insights from the Office of Servicemember Affairs Report — The Consumer Finance Podcast

Troutman Pepper on

In this episode of The Consumer Finance Podcast, Chris Willis delves into the latest annual report from the CFPB's Office of Servicemember Affairs. While the report is ostensibly about issues affecting military personnel, it...more

Troutman Pepper

The Evolving Landscape of B2B Payments: Regulatory Trends and Financial Practices Explained — Payments Pros – The Payments Law...

Troutman Pepper on

In this episode of Payments Pros, host Josh McBeain is joined by Caleb Rosenberg, a member of the firm’s Consumer Financial Services practice group, to discuss the complexities of business-to-business payments and the...more

Ballard Spahr LLP

CFPB proposes ‘narrow’ amendment to disclosure requirements for international remittances and money transfers

Ballard Spahr LLP on

The CFPB has issued a proposed rule with a small amendment to disclosure requirements for certain international remittances and money transfers....more

Ballard Spahr LLP

CFPB: Number of servicemember complaints increased in 2023

Ballard Spahr LLP on

The Consumer Financial Protection Bureau’s (“CFPB”) Office of Servicemember Affairs Annual Report was released on September 24, 2024, highlighting areas of concern regarding student lending and noting that the number of...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 #4

Troutman Pepper on

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

Federal District Court on September 23, 2024, entered final judgement in favor of the CFPB in lawsuit challenging its small...

Ballard Spahr LLP on

Judge Randy Crane (E.D. Tex) ruled on August 26, 2024 that the CFPB did not exceed its authority under Dodd Frank when it issued its final Section 1071 small business lending rule. The court also rejected other Administrative...more

Troutman Pepper

Exploring the CFPB's Stance on AI in Financial Services — The Consumer Finance Podcast

Troutman Pepper on

In this episode of The Consumer Finance Podcast, Chris Willis delves into the Consumer Financial Protection Bureau's (CFPB) recent response to the Treasury Department's request for information on the use of artificial...more

Orrick, Herrington & Sutcliffe LLP

DOJ, HUD resolve redlining claims with New Jersey-based bank

On September 17, the DOJ and HUD announced a settlement with a New Jersey-based bank to resolve “redlining” lending discrimination allegations. The DOJ’s complaint claimed that from 2018 through at least 2022, the bank failed...more

Troutman Pepper

CFPB Report Highlights Challenges Facing Servicemembers and Veterans, Including Student Loans and Money Transfer/Virtual Currency...

Troutman Pepper on

Yesterday, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly...more

Ballard Spahr LLP

CFPB’s Chopra: government must tackle spiraling refinance, homeowners’ insurance costs

Ballard Spahr LLP on

As interest rates drop, the CFPB is exploring ways to streamline mortgage rules to make the refinancing process easier and closing costs less expensive, Director Rohit Chopra said at a housing conference sponsored by the...more

Ballard Spahr LLP

CFPB’s Frotman: Companies are using technology to squeeze more out of those who can least afford it

Ballard Spahr LLP on

Innovation and technology are not the magic wands that will help low-income Americans climb out of debt; they often are tools used to prey on the neediest people, Seth Frotman, the CFPB’s general counsel told the Poverty Law...more

Troutman Pepper

CFPB’s Latest FAQs Broaden Interpretive Rule for Pay-in-Four BNPL Products

Troutman Pepper on

On September 18, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a set of frequently asked questions (FAQs) providing guidance on applying Regulation Z requirements to Pay-in-Four Buy Now, Pay Later (BNPL)...more

Ballard Spahr LLP

CFPB Takes Aim at Cash Back Fees

Ballard Spahr LLP on

Some dollar store chains and other retailers now are charging consumers for obtaining cash back on debt or prepaid card purchases—transactions that generally have been free in the past–the CFPB reported....more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 3

Troutman Pepper on

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

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 46: Consumer Banking in a Rapidly Changing Competitive and Regulatory Environment

RegFi co-hosts Jerry Buckley and Sherry Safchuk are joined by Kelvin Chen, Senior Executive Vice President and Head of Policy at the Consumer Bankers Association, to discuss the rapidly evolving business and regulatory...more

Ballard Spahr LLP

Plaintiffs free to appeal CFPB 1071 Rule after some plaintiffs drop their CFPB unlawful funding claim

Ballard Spahr LLP on

On August 26, 2024, Chief Judge Randy Crane in the E.D. Texas granted summary judgment to the CFPB, denied summary judgment to the trade groups and upheld the CFPB’s 1071 Rule (small business loan data collection rule)....more

563 Results
 / 
View per page
Page: of 23

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide