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Consumer Financial Protection Bureau (CFPB) Proposed Rules Debt Collection

Sheppard Mullin Richter & Hampton LLP

CFPB Finalizes Personal Financial Data Rights Rule

On October 22, the CFPB announced the finalization of its Personal Financial Data Rights Rule under Section 1033 of the Dodd-Frank Act. The rule aims to bring the U.S. closer to an “open banking” framework by making it easier...more

Troutman Pepper

CFPB Intensifies Scrutiny on Medical Debt Collection Practices

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On October 1, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion aimed at debt collectors and emphasizing their obligations under the Fair Debt Collection Practices Act (FDCPA) and Regulation...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 #4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

Plaintiffs declare that Fort Worth Chamber is the CFPB’s “natural adversary” in their opposition brief to the CFPB’s motion to...

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On August 12, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dismiss Plaintiff Fort Worth Chamber of Commerce (Fort Worth Chamber) for lack of standing and if granted, transfer the case to the...more

Ballard Spahr LLP

Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

Ballard Spahr LLP

Chopra Defends CFPB’s Medical Debt Proposed Rule

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CFPB Director Rohit Chopra on Thursday defended his agency’s proposed rule to prohibit the listing of medical debt on credit reports, contending that such debts are not a fair indication of a person’s financial health....more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2024

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB files motion to dismiss Fort Worth Chamber of Commerce for lack of standing and if granted, renews its motion to transfer the...

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On July 29, 2024, the CFPB filed a motion to dismiss the Fort Worth Chamber of Commerce as a Plaintiff for lack of standing and if granted, transfer the case to a the Federal District Court for D.C. In its brief, the CFPB...more

Ballard Spahr LLP

Judge Pittman (N.D. Texas) questions whether Fort Worth Chamber of Commerce has standing to pursue claims seeking to invalidate...

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We recently reported that on July 18 the CFPB, upon remand from the Fifth Circuit, re-filed its notice of supplemental authority in support of its motion to dismiss or transfer the case, motion to dissolve the preliminary...more

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CFPB Moves to Dissolve Preliminary Injunction and Supplements Motion to Transfer in Credit Card Late Fee Rule Case; Court...

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a brief in the U.S. District Court for the Northern District of Texas in support of its motion to dissolve the preliminary injunction that has stayed...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - July 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Goodwin

CFPB Proposes Rule to Ban Medical Debt from Credit Reports

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Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA), as to medical information and debt. This proposed rule...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - June 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

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The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Rule to Transform Credit Reporting Practices on Medical Debt

On June 11, the CFPB announced a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act, to alter the treatment of medical debts in credit reporting. The rule proposes to remove medical bills from...more

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Banks Should Continue to Prep for CFPB Data Rule Rollout

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Companies that fall within the definition of “data provider” are expected by this fall to be required to comply with the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank Act. ...more

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CFPB Proposed Rule Banning Reporting of Medical Debt

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On June 11, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical debt. The proposed rule would...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2024 - A Hazy Shade of Winter With the CFPB

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In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more

Ballard Spahr LLP

Trade groups urge CFPB to issue ANPR on FCRA rulemaking

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In September 2023, the CFPB announced that it was launching a Fair Credit Reporting Act rulemaking and issued an outline of the proposals it is considering in preparation for convening a Small Business Advisory Review Panel. ...more

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Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

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Big Tech in the CFPB’s Crosshairs: Bureau Proposes to Supervise Larger Technology Companies Offering Digital Wallets and Payment...

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On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to...more

Sheppard Mullin Richter & Hampton LLP

CFPB Initiates FCRA Rulemaking on Medical Debt and Data Brokers

On September 21, the CFPB announced that it has initiated a rulemaking process under the Fair Credit Reporting Act (“FCRA”) that would remove medical bills from consumer credit reports. The CFPB also published an Outline...more

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CFPB Moves to Widen Supervisory Scope in Consumer Payments Market

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The Consumer Financial Protection Bureau (CFPB or Bureau) has signaled that it intends to propose a rule that would allow it to exercise supervisory authority over a greater number of nonbank financial companies that...more

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