On January 30, the Consumer Financial Protection Bureau (CFPB or Bureau) released its updated list of consumer reporting companies for 2025. The list includes nationwide consumer reporting companies as well as several other...more
On January 13, the CFPB published a report analyzing consumers’ use of Buy Now, Pay Later (BNPL) loan products. This latest report builds on previous CFPB work related to BNPL lending by pairing a matched sample of BNPL...more
Recent Consumer Financial Protection Bureau ("CFPB") guidance reiterates that creditors must provide consumers with accurate and individualized explanations for adverse actions—a task made more difficult by the complexity of...more
In a March 25 letter to Rohit Chopra, Director of the Consumer Financial Protection Bureau, AGs from 21 states, plus the Hawaii Office of Consumer Protection, responded to the CFPB’s Notice and Request for Comment Regarding...more
Crazy times, right? Chances are you've heard this refrain numerous times over the last seven months, most notably on Zoom calls during the crushing silence of someone on the call forgetting to unmute his or her microphone....more
Regulatory uncertainty remains one of the most significant challenges to finance companies that want to develop creative and innovative products and services. Federal and state agencies have implemented policies to facilitate...more
The OCC, Federal Reserve Board, FDIC, NCUA and CFPB have issued an “Interagency Statement on the Use of Alternative Data in Credit Underwriting.”...more
On June 6, 2018, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled “Improving Transparency and Accountability at the Bureau of Consumer Financial...more