On March 14, the U.S. Court of Appeals for the Fourth Circuit issued a ruling addressing the obligations of furnishers under the Fair Credit Reporting Act (FCRA) to conduct reasonable investigations of disputed information,...more
On February 27, Texas State Senator José Menéndez (D) introduced Senate Bill 1736, a piece of legislation aimed at regulating convenience fees associated with electronic payments for motor vehicles. SB 1736 would allow such...more
3/6/2025
/ Consumer Financial Products ,
Convenience Fees ,
Disclosure Requirements ,
Electronic Payment Transactions ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Motor Vehicles ,
Payment Systems ,
Processing Fees ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Requirements
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/17/2025
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Regulatory Agenda ,
Regulatory Requirements ,
TCPA ,
UDAAP ,
Uniform Commercial Code (UCC)
On December 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule for public comment aimed at amending Regulation V, which implements the Fair Credit Reporting Act (FCRA). The proposed rule seeks...more
12/5/2024
/ Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reports ,
Credit Reporting Agencies ,
Data Brokers ,
Fair Credit Reporting Act (FCRA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Proposed Rules ,
Regulation V ,
Regulatory Agenda
In this episode of FCRA Focus, host Dave Gettings and his colleague Courtney Hitchcock explore the complexities of the Fair Credit Billing Act (FCBA). With an increase in FCBA claims, including those from pro se litigants, it...more
In this insightful episode of FCRA Focus, host Dave Gettings and guest Jonathan DeMars, an associate in Troutman Pepper's Consumer Financial Services Practice Group, delve into the recent Supreme Court decision in Department...more
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released the spring edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or practices...more
4/16/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Reporting Agencies ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Supervisory Highlights ,
Unfair or Deceptive Trade Practices
In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings are joined by Partners Cindy Hanson and Ron Raether to discuss recent CFPB advisory opinions on accuracy in background check reports and the inclusion of data...more
Join hosts Dave Gettings, Kim Phan, and Chris Willis in this special crossover episode of FCRA Focus and The Consumer Finance Podcast in the first installment of our Year in Review and a Look Ahead series. They are joined by...more
Join hosts Dave Gettings, Kim Phan, and Chris Willis in this special crossover episode of FCRA Focus and The Consumer Finance Podcast in the first installment of our Year in Review and a Look Ahead series. They are joined by...more
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/1/2024
/ Automotive Loans ,
Banks ,
Class Action ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Debt Collection ,
Digital Assets ,
Fair Lending ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Student Loans ,
Tribal Loans ,
Uniform Commercial Code (UCC)
Please join us for a special cross-over episode of FCRA Focus and The Consumer Finance Podcast, where Troutman Pepper Partners Chris Willis, Dave Gettings, Kim Phan, and Ron Raether look at the latest developments in the...more
The Consumer Financial Protection Bureau (CFPB) has started the process of issuing rules on several topics affecting the entire ecosystem that collects, sells, and uses data about consumers, according to an Outline of the...more
9/22/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Data Brokers ,
Data Privacy ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Proposed Rules ,
Regulatory Agenda ,
Rulemaking Process ,
SBREFA
Join us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more
Join us for the second episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more
Join us for the second episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more
Join us for the first episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more
Join us for the first episode in a special three-part series covering the CFPB’s intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more
At a White House Roundtable on protecting Americans from allegedly harmful “data broker” practices, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the Bureau’s intention to expand the...more
8/17/2023
/ Artificial Intelligence ,
CFPB Director ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
Fair Credit Reporting Act (FCRA) ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
Proposed Rules ,
Roundtable
A recent decision out of the Eastern District of Wisconsin provides an important reminder to loan servicers that a statement in a debt collection letter could be considered misleading under the Fair Debt Collection Practices...more