Companies that fall within the definition of “data provider” are expected by this fall to be required to comply with the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank...more
6/14/2024
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Information ,
Data Management ,
Debt Collection ,
Debt Collectors ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgage Servicers ,
Proposed Rules ,
Regulation E
On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to...more
11/9/2023
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Digital Wallets ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Gramm-Leach-Blilely Act ,
Mobile Payments ,
Nonbank Firms ,
Peer-to-Peer ,
Proposed Rules ,
Public Comment
On October 16, the Federal Reserve Board (Fed) published a notice of an Open Board Meeting to take place on October 25. The only matter under consideration at that meeting will be the Fed’s proposed revisions to the debit...more
10/20/2023
/ Administrative Procedure Act ,
Banks ,
Certiorari ,
Corner Post Inc v Board of Governors of the Federal Reserve System ,
Debit Cards ,
Dodd-Frank ,
Durbin Amendment Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Interchange Fees ,
Public Comment ,
Statute of Limitations
The U.S. Supreme Court has granted the petition for certiorari in Corner Post, Inc. v. Board of Governors of the Federal Reserve System (Board), a case where Corner Post challenges a 2011 Board rule that governs certain fees...more
10/3/2023
/ Administrative Procedure Act ,
Certiorari ,
Consumer Financial Products ,
Corner Post Inc v Board of Governors of the Federal Reserve System ,
Debit and Credit Card Transactions ,
Dodd-Frank ,
Durbin Amendment Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Interchange Fees ,
Regulatory Requirements ,
SCOTUS ,
Statute of Limitations
The Consumer Financial Protection Bureau (CFPB or Bureau) has signaled that it intends to propose a rule that would allow it to exercise supervisory authority over a greater number of nonbank financial companies that...more
On October 3, the Financial Stability Oversight Council (FSOC) released its “Report on Digital Asset Financial Stability Risks and Regulation” (Report), concluding, among other things, that unregulated cryptocurrencies could...more
On October 3, the Federal Reserve Board (Fed) finalized amendments to Regulation II, the implementing regulation for the Durbin Amendment, now requiring debit card issuers to provide at least two unaffiliated payment card...more
On September 1, the Consumer Financial Protection Bureau (CFPB) issued a 900+ page notice of proposed rulemaking (NPRM) to implement the small business lending data collection requirements under Section 1071 of the Dodd-Frank...more
In the 10 years since the Consumer Financial Protection Bureau (CFPB) opened its doors on July 21, 2011, the agency has in many ways upheld its mandate to look out for the public interest. Created by the passage of the...more
In the 10 years since the Consumer Financial Protection Bureau (CFPB) opened its doors on July 21, 2011, the agency has in many ways upheld its mandate of looking out for the public interest. Created by the passage of the...more
The Consumer Financial Protection Bureau (CFPB) and SettleIt, Inc., an online debt-settlement company, have agreed to settle “abusiveness” claims for $1.4 million....more
On March 11, the Consumer Financial Protection Bureau (CFPB) announced that it is rescinding a January 2020 policy statement that limited the “abusive acts and practices” standard created by the 2010 Dodd-Frank Act. By...more