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Consumer Financial Protection Bureau (CFPB) Financial Services Industry Compliance Dates

Ballard Spahr LLP

CFPB Releases Updated 1071 Filing Instructions Guide

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On August 16, 2024 the CFPB issued an updated 2025 Small Business Lending Filing Instructions Guide (the “Guide”). The Guide provides updated compliance dates that correspond to the new compliance dates....more

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CFPB Releases Interim Final Rule Extending 1071 Compliance Dates

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On June 25th, the CFPB issued an interim final rule with a request for public comment extending the compliance dates for the Small Business Lending Rule in light of the Supreme Court’s decision finding the funding structure...more

Eversheds Sutherland (US) LLP

CFPB previews consumer data portability rule meant to accelerate US open banking adoption

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued an advance notice of proposed rulemaking (ANPR) with respect to a new consumer financial data portability rule mandated by Section 1033 of the...more

BCLP

Open Banking: When You Build It, Will They Come? CFPB Proposes Rules Requiring Banks to Share Consumer Data

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The federal consumer protection agency’s proposed rule would give consumers greater control over access to their personal financial information held by banks and credit unions. The CFPB’s stated goal is to increase...more

Ballard Spahr LLP

CFPB and trade groups ask Texas federal court to lift stay of lawsuit challenging payday loan rule but disagree over next steps

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The CFPB and the two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) have filed a joint motion asking the Texas federal district court hearing the trade groups’...more

Ballard Spahr LLP

Court continues stay of litigation and compliance date in trade group lawsuit challenging CFPB payday loan rule (UPDATED)

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order that once again continues the stay...more

Ballard Spahr LLP

Court continues stay of litigation and compliance date in trade group lawsuit challenging CFPB payday loan rule (UPDATED)

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order on December 6 that once again...more

Ballard Spahr LLP

CFPB issues final rule delaying compliance date of payday loan rule ability-to-repay provisions; August 19 compliance date for...

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The CFPB has issued a final rule delaying the compliance date for the ability-to-repay (ATR) provisions in its final payday/auto title/high-rate installment loan rule (Payday Rule) for 15 months, until November 19, 2020....more

Ballard Spahr LLP

Consumer advocacy groups ask to participate as amicus to oppose stay of CFPB payday loan rule compliance date

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Four consumer advocacy groups have filed a motion seeking leave to file an amicus memorandum opposing the joint motion filed by the CFPB and two trade groups that seeks a stay of the compliance date for the CFPB’s final...more

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