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
12/18/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Committee ,
Financial Services Industry ,
FSOC ,
NCUA ,
Overdraft Fees ,
Rulemaking Process ,
Scams ,
Student Loans ,
Supervisory Highlights
On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more
12/13/2024
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Coercion ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Credit Reports ,
Domestic Violence ,
Elder Abuse ,
Fair Credit Reporting Act (FCRA) ,
Financial Abuse ,
Financial Regulatory Reform ,
Financial Services Industry ,
Public Comment ,
Regulation V ,
Regulatory Agenda ,
Rulemaking Process ,
Vulnerable Victims
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
12/11/2024
/ CFPB v Community Financial Services Association of America ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Enforcement Actions ,
Exploitation ,
Fair Credit Reporting Act (FCRA) ,
Fannie Mae ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Freddie Mac ,
Late Fees ,
Student Loans
Late last year, we discussed the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposed rule aimed at supervising larger technology companies offering digital wallets and payment apps. On November 21, the CFPB...more
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
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
12/4/2024
/ CFPB v Community Financial Services Association of America ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Scores ,
Cryptocurrency ,
Enforcement Actions ,
Financial Services Industry ,
International Emergency Economic Powers Act (IEEPA) ,
Medical Debt ,
Office of Foreign Assets Control (OFAC) ,
Payday Loans ,
Smart Contracts
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
11/27/2024
/ Bank Secrecy Act ,
CFTC ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Bureaus ,
Credit Scores ,
Debt Collectors ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
Digital Wallets ,
Electronic Fund Transfer Act ,
Fair Credit Reporting Act (FCRA) ,
False Advertising ,
FDIC ,
Federal Reserve ,
FHFA ,
Financial Services Industry ,
GMAC ,
Hackers ,
National Association of Attorneys General (NAAG) ,
Non-Bank Lenders ,
Ombudsman ,
Payment Systems ,
Phishing Scams ,
Robocalling ,
Student Loans ,
Truth in Lending Act (TILA) ,
Virtual Currency
In this episode, Brooke Conkle and Chris Capurso, attorneys in the firm’s Consumer Financial Services practice, are joined by Partner Ethan Ostroff to discuss the recent Supreme Court of California decision in Rodriguez vs....more
Earlier this month, we discussed the lawsuit filed by ACA International, LLC and Collection Bureau Services, Inc. in the U.S. District Court for the District of Columbia against the Consumer Financial Protection Bureau (CFPB...more
Late last year, we discussed the Federal Communications Commission’s (FCC) new rule aimed at closing the “lead generator” loophole by requiring telemarketers to obtain one-to-one consent from consumers for robocalls and...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
11/20/2024
/ California Privacy Protection Agency (CPPA) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Federal Trade Commission (FTC) ,
FHFA ,
Financial Services Industry ,
Gramm-Leach-Blilely Act ,
Loans ,
Tribal Loans ,
Unfair or Deceptive Trade Practices
On November 13, Representative Gary J. Palmer (R-AL) introduced House Joint Resolution 220, which seeks congressional disapproval of an advisory opinion published by the Consumer Financial Protection Bureau (CFPB or Bureau)...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
11/13/2024
/ Affordable Housing ,
Artificial Intelligence ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
ECOA ,
Enforcement Actions ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Popular ,
Underserved Locations ,
Unfair or Deceptive Trade Practices
In our previous post, we discussed the New York City Department of Consumer and Worker Protection’s (NYC DCWP) decision to delay the enforcement of the amended debt collection rules from December 1, 2024, to April 1, 2025....more
Late last month, the Federal Trade Commission (FTC) filed suit against Global Circulation, Inc. (GCI) and its owner for engaging in deceptive and abusive debt collection practices. According to the FTC, the Georgia-based debt...more
In the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by colleagues Brett Broczkowski and Mike Lowe to discuss the intersection of crime and cryptocurrency, with a focus on the challenges financial...more
On November 1, the New York City Department of Consumer and Worker Protection (NYC DCWP) announced that the effective date for the amended debt collection rules has been officially moved to April 1, 2025....more
On November 1, ACA International, LLC and Collection Bureau Services, Inc. filed a lawsuit against the Consumer Financial Protection Bureau (CFPB or Bureau) and Director Rohit Chopra, challenging the CFPB’s recent advisory...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
11/6/2024
/ Centers for Medicare & Medicaid Services (CMS) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
FHFA ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Freddie Mac ,
Geographic Targeting Order ,
HUD ,
Medicare ,
Redlining ,
Securities Regulation ,
Unfair or Deceptive Trade Practices
On October 18, the U.S. Court of Appeals for the Fifth Circuit affirmed a district court’s vacatur of a maritime attachment order, providing a detailed analysis of the requirements for personal and in rem jurisdiction over...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
10/30/2024
/ BSA/AML ,
CBCA ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Data Management ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FCC ,
Federal Trade Commission (FTC) ,
FHFA ,
Financial Services Industry ,
FinCEN ,
Statutory Violations
In the latest episode of The Crypto Exchange, host Ethan Ostroff is joined by Addison Morgan to discuss the recent CFTC enforcement action against Uniswap. The CFTC alleged that Uniswap violated the Commodity Exchange Act...more
Earlier this week, we discussed the Federal Trade Commission’s (FTC) final amendments to the Negative Option Rule, now retitled the Rule Concerning Recurring Subscriptions and Other Negative Option Programs. These amendments,...more
This week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule on personal financial data rights, purportedly aimed at enhancing consumer control over their financial data and promoting competition...more
10/24/2024
/ Banks ,
Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Management ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Open Banking
This week, we discussed the constitutional legal challenge against New York City’s recently amended debt collection rules, which were scheduled to go into effect on December 1, 2024. These rules would stringently regulate...more
10/23/2024
/ City of New York ,
Constitutional Challenges ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Financial Regulatory Reform ,
Financial Services Industry ,
Local Ordinance ,
New Rules ,
Preemption ,
Regulatory Requirements