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
8/8/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
FDIC ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
Notice of Proposed Rulemaking (NOPR) ,
Proposed Rules ,
Regulatory Agenda ,
Request For Information
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
7/31/2024
/ Bitcoin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Cryptocurrency ,
Debt Collection ,
FDIC ,
Federal Bank Regulatory Agencies ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda
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
7/26/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
FDIC ,
Federal Housing Administration (FHA) ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loans ,
Mortgages ,
OCC ,
Payday Lending Rule ,
Proposed Rules ,
Regulation Z ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA)
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed interpretive rule opining that earned wage access (EWA) products — whether provided through employer partnerships or marketed directly to...more
7/22/2024
/ Borrowers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit ,
Earned Wage Access ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Payday Loans ,
Proposed Rules ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Wage and Hour ,
Wages
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
7/18/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptocurrency ,
Data Brokers ,
Debt ,
Debt Collection ,
Discriminatory Lending Practices ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
HMDA ,
HUD ,
Mortgage Servicers ,
Mortgages ,
Proposed Rules ,
Regulatory Agenda
On July 5, the California Privacy Protection Agency (CPPA) published a Notice of Proposed Rulemaking regarding Data Broker Registration pursuant to Senate Bill 362 (the Delete Act). The Delete Act requires the CPPA to...more
As discussed here, on February 3, 2023, an Illinois federal court dismissed a case brought by the Consumer Financial Protection Bureau (CFPB or Bureau) in 2020 against Townstone Financial, Inc., a Chicago mortgage lender, for...more
7/15/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Discriminatory Lending Practices ,
ECOA ,
Financial Institutions ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgages ,
Regulation B ,
Statutory Violations
Both houses of the New Jersey Legislature recently passed Assembly Bill No. 3861 (AB 3861), known as the Louisa Carman Medical Debt Relief Act. The legislation’s stated aims are to prevent undue financial hardship and protect...more
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
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
7/3/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptoassets ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
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
6/26/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
FHFA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulation V ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
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
6/19/2024
/ Artificial Intelligence ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Cryptoassets ,
Cryptocurrency ,
Debt Collection ,
Debt Collectors ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Lenders ,
Medical Debt ,
Payday Loans ,
Proposed Rules ,
Securities and Exchange Commission (SEC)
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on the state of negative equity in auto lending. The CFPB says it found that financing negative equity creates increased risks for...more
On May 28, the Federal Trade Commission (FTC) released its annual report to the Consumer Financial Protection Bureau (CFPB) detailing enforcement and educational activities undertaken in 2023. The report pertains to actions...more
6/14/2024
/ Annual Reports ,
Automotive Loans ,
CARS Rule ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Leasing Act (CLA) ,
Electronic Fund Transfer Act ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulation Z ,
Truth in Lending Act (TILA)
A U.S. District Court for the District of Maryland recently denied summary judgment in a case under the Telephone Consumer Protection Act (TCPA), finding that the defendant failed to show it received prior express written...more
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
6/11/2024
/ Broker-Dealer ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
The Consumer Financial Protection Bureau (CFPB or Bureau) has issued a circular warning covered persons that including unlawful or unenforceable terms and conditions in consumer contracts can violate the prohibition on...more
6/6/2024
/ Arbitration ,
Consent Order ,
Consumer Financial Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Terms ,
Covered Person ,
Financial Institutions ,
Financial Services Industry ,
Unenforceable Contract Terms ,
Unfair or Deceptive Trade Practices
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
6/5/2024
/ Artificial Intelligence ,
Borrowers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debtors ,
Digital Assets ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Late Fees ,
Mortgages ,
OCC ,
Proposed Rules ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC)
According to a recent report by WebRecon, court filings under the Fair Debt Collection Practices Act (FDCPA) and Fair Credit Reporting Act (FCRA) and complaints filed with the Consumer Financial Protection Bureau (CFPB) were...more
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
5/30/2024
/ Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Leasing Act (CLA) ,
Consumer Lenders ,
Cryptocurrency ,
Digital Assets ,
Electronic Fund Transfer Act ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Truth in Lending Act (TILA)
Maryland has joined the growing list of states to pass a law — the Judge Andrew F. Wilkinson Judicial Security Act — that allows current and former members of the Maryland judiciary to request certain of their personal...more
The U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s decision holding that the Fair Credit Reporting Act (FCRA) preempted the plaintiff’s state law defamation claim based on information furnished to a...more
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
5/22/2024
/ CFTC ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Cybersecurity ,
Digital Assets ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Laundering ,
Popular ,
Student Loans
On May 13, Senator Joseph P. Cryan (D) introduced an amendment to New Jersey’s Daniel’s Law, which would broaden the law’s coverage. An identical amendment was introduced by Assemblywoman Annette Quijano (D) in the Assembly...more
In Holden v. Holiday Inn Club Vacations Inc., the U.S. Court of Appeals for the Eleventh Circuit recently upheld a consolidated district court ruling granting summary judgment for the defendant furnisher in two Fair Credit...more