CFPB Warns of Manipulation in Digital Comparison Shopping Tools
Consumer Finance Monitor Podcast Episode: The CFPB’s Registry of Nonbanks and Circular that Certain Contract Terms Violate Law
Consumer Finance Monitor Podcast Episode: Should Medical Debt Be Included in Creditworthiness Measures?
Loans, Retail Installment Contracts, and Refinancing Programs — Moving the Metal: The Auto Finance Podcast
Welcome Trevor Salter: A Deep Dive Into Financial Services Transactions — The Consumer Finance Podcast
Understanding the CFPB's Payday Loan Rule: Implications and Compliance — Payments Pros – The Payments Law Podcast
Understanding the CFPB's Payday Loan Rule: Implications and Compliance — The Consumer Finance Podcast
The CFPB’s Report on Negative Equity in Auto Lending - Moving the Metal: The Auto Finance Podcast
Consumer Finance Monitor Podcast Episode: Buy Now, Pay Later – Evolution, Regulation, and What You Need to Know about the CFPB Interpretive Rule Effective July 30
CFPB's New Interpretive Rule: Buy Now, Pay Later as Credit Cards — The Consumer Finance Podcast and Payments Pros Podcast
The CFPB and State AGs Act Jointly Against Online Educational Company
Consumer Finance Monitor Podcast Episode: Consumer Financial Protection Bureau Wins in Supreme Court But Can the Fed Continue to Fund the CFPB Without Earnings?
Auto Finance – CFPB Circular Release — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Meet Troutman Pepper's Bank Regulatory Team — The Consumer Finance Podcast
Navigating Ancillary Products in Auto Finance — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: An Insider’s View of the CFPB
Consumer Finance Monitor Podcast Episode: Banks and Their Customer Relationships: What is the Appropriate Role of Bank Regulators?
Imminent Shift: Preparing for the T+1 Settlement Impact on Equity-Based Compensation — The Consumer Finance Podcast
Auto Finance – The CFPB Complaints Report — The Consumer Finance Podcast
In November 2023, S.B. 668 was introduced in the Wisconsin Senate. S.B. 668 would make sweeping changes to the state laws governing financial service providers. The bill creates a pathway for the Wisconsin Department of...more
1. FEDERAL COURT OF JUSTICE RULES ON ASSIGNMENT CLAUSE IN T&CS FOR CAR FINANCING - In April 2023, the German Federal Court of Justice (Bundesgerichtshof, “BGH”) ruled that an assignment clause used by a German captive bank...more
A recent survey by PricewaterhouseCoopers revealed that U.S. executives now consider cyberattacks the number one risk their companies face. Concerns about cybersecurity have moved beyond the Chief Information Security Office...more
In between blasts of arctic air and record snow falls, we are starting to see state legislatures emerge from their winter hibernation and introduce new legislation. With regard to Earned Wage Access (EWA), first out of the...more
The Economic Growth, Regulatory Relief, and Consumer Protection Act (Growth Act) enacted last year includes a provision to protect veterans from loan churning by providing, among other requirements, that a loan to a veteran...more
Last week, by a vote of 60 to 4 (with 16 not voting), the California Assembly cleared AB 539, which would change several aspects of the California Financing Law (CFL), including by setting new interest rate caps, imposing new...more
Last week, Senator Dick Durbin, D-Ill., reintroduced a bill, the “Protecting Consumers From Unreasonable Credit Rates Act of 2019,” that would create a national interest-rate cap of 36% on consumer loans. ...more
The CFPB announced yesterday that it has transmitted a proposal to Congress that would give it clear authority to conduct supervisory examinations for compliance with the Military Lending Act (MLA)....more
It appears likely that California Governor Jerry Brown will sign a bill passed on August 31 by the state’s Senate, Senate Bill 1235, which would create consumer-style disclosure requirements for certain commercial loans and...more
On August 1, 2018, Sen. Bill Nelson (D-Florida) introduced S. 3334 captioned “The Military Lending Improvement Act of 2018” in the United States Senate to “expand and improve” credit protections afforded to service members by...more
On April 18, the Senate voted to repeal the Consumer Financial Protection Bureau's (CFPB) 2013 Guidance on Fair Lending Practices to Indirect Auto Lenders (2013 Guidance) using the Congressional Review Act (CRA). The vote was...more
On April 17, 2018, U.S. Senate Majority Leader Mitch McConnell (R-KY) announced that the Senate would seek to repeal the Consumer Financial Protection Bureau’s (CFPB’s) indirect auto lending guidance. The Senate passed a...more
The CFPB has issued its semi-annual report to Congress, leaving little doubt as to the agenda of Acting Director, Mick Mulvaney. While the information contained in the actual report is largely inconsequential, it is...more
Over the last two years the financial industry has seen an uptick in litigation and enforcement actions aimed at banks and their non-bank lending partners. These actions have primarily challenged the validity of the bank...more
The American Banker has reported that last week, Senator Lindsey Graham introduced a joint resolution under the Congressional Review Act (CRA) to override the CFPB’s final payday/auto title/high-rate installment loan rule...more
In a blog post entitled “How S.2155 (the Bank Lobbyist Act) Facilitates Discriminatory Lending” Professor Adam Levitin claimed that “This bill functionally exempts 85% of US banks and credit unions from fair lending laws in...more
A bipartisan group of lawmakers has introduced a joint resolution under the Congressional Review Act to override the CFPB’s final payday/auto title/high-rate installment loan rule. House members sponsoring the bill consist...more
Trial Bar Proposes Anti-Ride-Sharing Amendments to Insurance Bill - The Senate Judiciary Committee considered amendments this week proposed by the Vermont Trial Lawyers Association that would likely force Uber out of...more
Senator Al Franken and 57 other members of Congress signed a letter sent to Director Cordray last week urging the CFPB “to move forward quickly to use its authority under the Dodd-Frank Act to issue strong rules to prohibit...more