There is nothing quite like the 11th hour.
On Monday, January 27, 2025, two new requirements for prior express written consent under the Telephone Consumer Protection Act (TCPA) were set to take effect. These requirements,...more
1/28/2025
/ Administrative Procedure Act ,
Appeals ,
Class Action ,
Consent ,
Disclosure Requirements ,
Enforcement Actions ,
FCC ,
Loper Bright Enterprises v Raimondo ,
Prior Express Consent ,
Regulatory Requirements ,
Rulemaking Process ,
Statutory Interpretation ,
TCPA ,
Telecommunications ,
Telemarketing
On December 17, 2024, the Consumer Financial Protection Bureau (CFPB) issued its final rule implementing Section 307 of the 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA) and amending...more
12/20/2024
/ Ad Valorem Tax ,
Clean Energy ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Covered Transactions ,
EGRRCPA ,
Final Rules ,
Financing ,
High-Priced Mortgage Loans (HPML) ,
HOEPA ,
Incentives ,
PACE ,
Property Improvements ,
Regulation Z ,
Residential Property Owners ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA)
Continuing its vigorous effort to eliminate so-called “junk fees,” and detailing other problematic mortgage servicer activities, the Consumer Financial Protection Bureau (CFPB) recently released its Spring 2024 Supervisory...more
It is no secret that the Federal Deposit Insurance Corporation (FDIC) actively monitors its banks for compliance with Section 8 of the Real Estate Settlement Procedures Act (RESPA Section 8). However, in its March 2024...more
If you thought virtual reality was free from real-world regulations, think again. On April 4, 2024, the CFPB released an Issue Spotlight that dives deeply into a realm the agency had not previously traversed—video games and...more
4/18/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Fiat ,
Financial Transactions ,
Fraud ,
Money Laundering ,
Online Platforms ,
Payment Systems ,
UDAAP ,
Video Games ,
Virtual Currency ,
Virtual Reality
On February 29, 2024, the CFPB issued Consumer Financial Protection Circular 2024-01: Preferencing and steering practices by digital intermediaries for consumer financial products or services. The circular provides guidance...more
On February 12, 2024, the Federal Financial Institutions Examination Council (FFIEC) issued a statement of principles that relate to valuation discrimination and bias for its member entities to consider in preparation for...more
2/21/2024
/ Bias ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Discrimination ,
Examination Procedures ,
FDIC ,
FFIEC ,
FHFA ,
Financial Institutions ,
Financial Services Industry ,
Mortgages ,
NCUA ,
OCC ,
Policies and Procedures ,
Valuation
In its May 2023 complaint, the FTC alleged that data broker Outlogic (formerly known as X-Mode Social) (hereafter Outlogic) had engaged in activities that violated Section 5(a) of the FTC Act (15 U.S.C. § 45(a)), which...more
2/13/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
Data-Sharing ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
FTC Act ,
Healthcare Facilities ,
LGBTQ ,
Location Data ,
Location Privacy ,
Tracking Systems ,
Unfair or Deceptive Trade Practices
Here’s what you need to know:
1. The House Financial Services Committee formed a 12-member working group on Artificial Intelligence (AI). The group is tasked with exploring AI’s comprehensive impact on financial services so...more
One of the primary challenges with working in U.S. financial services is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory changes...more
1/4/2024
/ Annual Percentage Rate (APR) ,
Anti-Discrimination Policies ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Data Security ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
Late Fees ,
Loans ,
Regulatory Agenda ,
Small Business
The Consumer Financial Protection Bureau (CFPB) has approved an application from the Independent Community Bankers of America (ICBA) to pilot disclosures for construction loans, paving the way for lenders to use and test the...more
The U.S. Supreme Court has agreed to address whether state laws that require national banks to pay 2% annual interest on residential mortgage escrow accounts are preempted by the National Bank Act (NBA) and thus inapplicable...more
The Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) have issued a new joint statement focused on anti-discrimination in lending practices as they relate to noncitizens. This guidance not only...more
10/25/2023
/ Assessment ,
Borrowers ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Discrimination ,
Department of Justice (DOJ) ,
ECOA ,
Fair Lending ,
Immigration Status Discrimination ,
Joint Statements ,
Non-Citizens ,
Regulation B
After a brief respite, Section 8 of the Real Estate Settlement Procedures Act (RESPA) is back on the Consumer Financial Protection Bureau’s (CFPB’s) enforcement radar. On August 17, 2023, the CFPB issued two parallel consent...more
Building on the Consumer Financial Protection Bureau’s (CFPB’s) September 2022 Supervisory Highlights on student loan servicing (questioning transcript withholding practices), the CFPB issued a September 2023 report on...more
On July 20, 2023, the CFPB published a report concerning the risks posed to consumers by employer-driven debt. Employer-driven debt is any form of financing arrangement where an employer extends credit or a lease to an...more
9/26/2023
/ Consumer Financial Protection Bureau (CFPB) ,
Debt ,
Debt Collectors ,
Employee Training ,
Employment Contract ,
Healthcare ,
Repayment Options ,
Student Loans ,
Third-Party ,
Transportation Industry ,
Wage Deductions
The Consumer Financial Protection Bureau (CFPB) has been making waves in the mortgage settlement services space with its renewed increased attention to the Real Estate Settlement Procedures Act’s (RESPA) anti-kickback...more
The Consumer Financial Protection Bureau (CFPB) has been at the forefront of discussions surrounding the evolving role of data brokers in today’s digital economy. In particular, Director Rohit Chopra recently announced that...more
On March 13, 2023, the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) filed a statement of interest in a case concerning racial discrimination in the appraisal of a residential home. In that...more