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Consumer Financial Protection Act (CFPA) Consumer Financial Products Regulatory Oversight

Alston & Bird

CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

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What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more

Ballard Spahr LLP

CFPB settles claims against operator of training program arising out of income share agreements

Ballard Spahr LLP on

The CFPB recently announced the settlement of a bankruptcy court adversary proceeding filed jointly with the Attorneys General of 11 states against Prehired, LLC (Prehired) and two affiliated companies (Prehired Affiliates)...more

Troutman Pepper

Delaware Bankruptcy Court Enters $30M Stipulated Judgment Over Deceptive Student Loan Practices

Troutman Pepper on

On November 20, Delaware Attorney General (AG) Kathy Jennings, along with the Consumer Financial Protection Bureau (CFPB) and 11 other states, announced a settlement in excess of $30 million with Prehired LLC and affiliated...more

Goodwin

UDAAP: You’re at Risk - 10 Essential Tips for Protecting Your Business

Goodwin on

In this edition of Fintech Flash, we discuss important things to know about the regulation of unfair, deceptive, and abusive acts or practices and 10 areas of focus to mitigate your UDAAP risk. When a regulator...more

Manatt, Phelps & Phillips, LLP

California’s Expansive New Financial Protection Agency: What You Need to Know Right Now

California is poised to enact broad new legislation creating an entirely revamped financial protection regimen, including a powerful new Department of Financial Protection and Innovation (DFPI). In this article, we provide...more

Burr & Forman

CFPB Update: January 2018

Burr & Forman on

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Ballard Spahr LLP

Competing House and Senate bills aim to eliminate or reform the CFPB

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Although the Trump Administration has largely been silent with respect to Dodd-Frank and the future of the CFPB, some members of Congress have been very active in proposing significant legislative changes. Several measures to...more

Ballard Spahr LLP

Director Cordray Responds To Letter from Senators Seeking Tailored Rulemaking for Community Banks and Credit Unions

Ballard Spahr LLP on

Last month, a bipartisan group of 70 senators were signatories to a letter sent to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray urging the CFPB to “carefully tailor its regulations to match the unique...more

Ballard Spahr LLP

Director Cordray responds to letter from Senators seeking tailored rulemaking for community banks and credit unions

Ballard Spahr LLP on

Last month, a bipartisan group of 70 Senators were signatories to a letter sent to Director Cordray urging the CFPB to “carefully tailor its regulations to match the unique nature of community banks and credit unions.” In...more

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