On March 16, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) announced a significant expansion of its “anti-discrimination efforts to combat discriminatory practices across the board in consumer finance.” Under...more
3/24/2022
/ Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Discrimination ,
Dodd-Frank ,
ECOA ,
Examination Manual ,
Fair Housing Act (FHA) ,
Financial Services Industry ,
HMDA ,
UDAAP
It is clear just a few weeks into the Biden administration that fair lending and racial equity will return as a central focus of regulators under President Joe Biden.
Biden issued a memorandum his first week in office...more
3/3/2021
/ Anti-Discrimination Policies ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Enforcement ,
Fair Lending ,
HUD ,
Mortgage Lenders ,
Presidential Memorandum ,
Race Discrimination ,
Strategic Enforcement Plan
In this article we highlight the role played by the Consumer Financial Protection Bureau in regulating small business lending. Broadly speaking, the bureau’s jurisdiction is limited to the marketplace for consumer financial...more
5/23/2016
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Data Collection ,
Disparate Impact ,
Dodd-Frank ,
ECOA ,
Financial Institutions ,
HMDA ,
Online Marketplace Lending ,
Redlining ,
Regulatory Oversight ,
Richard Cordray ,
Small Business ,
UDAAP
On October 7, 2015, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) released an outline of proposals under consideration to ban class action waivers in contracts for consumer financial products and services....more
10/9/2015
/ Arbitration ,
Arbitration Agreements ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Defense (DOD) ,
Exclusions ,
Military Lending Act ,
Proposed Regulation ,
Richard Cordray ,
Rulemaking Process ,
SBREFA
On June 10, 2015, the Consumer Financial Protection Bureau (CFPB) announced a final rule that will allow it to supervise larger nonbank automobile finance companies. Accompanying the rule, it also published the procedures...more
6/16/2015
/ Automotive Industry ,
Automotive Loans ,
Car Dealerships ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Covered Entities ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Final Rules ,
Non-Bank Lenders ,
Regulation B ,
Supervision ,
UDAAP