On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. The proposed rule can be found here. Under the...more
The Consumer Financial Protection Bureau (CFPB) issued a bulletin on September 3, 2014 warning credit card companies that marketing materials for promotional annual percentage rate (APR) offers may be in violation of the...more
In a May 23, 2014 blog post by Kelly Cochran, Assistant Director of Regulation, the Consumer Financial Protection Bureau indicated that it is working on a “larger participant” rule for nonbank automobile lenders pursuant to...more
On April 4, 2014, the Department of Labor (DOL) issued an Interim Final Rule establishing procedures concerning the manner in which the Occupational Safety and Health Administration (OSHA) will address employee whistleblower...more
On March 25, 2014, the Consumer Financial Protection Bureau (CFPB) released its second report on payday lending. This report followed a white paper on payday lending and deposit advance products that the CFPB issued in April...more
Earlier this week, the Consumer Financial Protection Bureau (CFPB) announced that it is working on potential new consumer disclosure requirements for prepaid cards to standardize fee disclosures. The new disclosure...more
On January 23, 2014, the Consumer Financial Protection Bureau (CFPB) proposed a rule whereby the definition of “larger participants” will be expanded to include nonbanks that perform one million or more international money...more
On December 12, 2013, the Consumer Financial Protection Bureau (CFPB) released its preliminary report on the use of arbitration clauses in consumer financial products and services. The preliminary report focuses on...more
Employers who use consumer reports as part of their decision-making process in the hiring, promotion or firing of employees should note the attached “A Summary of Your Rights under the Fair Credit Reporting Act” issued by the...more