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
After promising earlier this year to “establish nation-leading regulations for the Buy Now Pay Later loan industry,” New York Governor Kathy Hochul took a significant first step in that direction by including Buy Now Pay...more
As we reflect on the previous year and look toward the new year, we thought you’d appreciate our top 20 most-read Consumer Finance ABstract posts from 2023...more
New York enacted a new law on Nov. 1, 2021, extending the requirements in the state's analog to the federal Community Reinvestment Act (CRA Requirements) to New York-licensed mortgage bankers, thereby becoming the third state...more
In this Issue. The federal bank regulatory agencies announced that the temporary change to the supplementary leverage ratio for depository institutions will expire as scheduled on March 31, 2021; the Small Business...more
California is poised to join the growing cadre of states enhancing their consumer financial protection functions in response to perceived decreasing federal oversight and enforcement under the Trump administration. Following...more
It is widely anticipated that the London Interbank Offered Rate (“LIBOR”) will be discontinued in 2021. As LIBOR commonly is used as an index rate for both residential mortgage and consumer loans, its discontinuance has the...more
At the start of the new year, both California’s Governor Newson and New York’s Governor Cuomo proposed expansions to their respective state’s regulatory oversight of consumer financial services. Of particular note,...more
On December 18, 2019, the New York Department of Financial Services (DFS) issued its Final Regulations detailing the business conduct rules for mortgage loan servicers. ...more
The New York Department of Financial Services has sent a letter to the institutions that it regulates requiring each such institution, by February 7, 2020, to provide to DFS a description of its “plan to address its LIBOR...more
The New York Department of Financial Services makes good on a promise to fill the void left by the Consumer Financial Protection Bureau. On April 29, 2019, the New York Department of Financial Services ("DFS") announced...more
The New York Department of Financial Services (NYDFS) has issued an Online Lending Report that calls for the application of New York usury limits to all online lending and increased regulation of online lenders making loans...more
The California Department of Business Oversight (DBO) released a pair of reports on installment consumer lending for 2017, finding that the combined dollar amount of installment consumer loans by nonbanks in the state fell...more
The New York Department of Financial Services has sent a letter directed to businesses that the DFS “understands…may be involved in online lending in the State of New York” and that asks recipients to complete a “New York...more
A New York lender licensing proposal that threatened to create new regulatory burdens for financial service providers and to potentially adversely affect credit availability to New York residents and businesses, has been...more
Washington, D.C., and New York recently moved forward with efforts to license and regulate student loan servicers. In Washington, D.C., servicers of student loans made to District of Columbia residents are subject to a new...more
New York is joining a small but growing list of states seeking to regulate the “bank-origination” method of online lending. The recently introduced New York Budget legislation would amend Section 340 of the New York...more
Proposed legislation to implement New York Governor Andrew Cuomo's 2018 Fiscal Year Executive Budget would amend the New York Licensed Lender Law to significantly extend its licensing requirements. The proposal threatens to...more
2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more
EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...more
The New York Department of Financial Services (NYDFS) will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain regulatory minimum standards." All financial...more
On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a debt buyer for purchasing and collecting on allegedly illegal payday loans made to New York consumers, in violation of the...more
On May 18, the New York State Department of Financial Services (DFS) announced a consent order with a Virginia debt buyer for collecting on illegal payday loans from New York consumers, in violation of the Fair Debt...more
On August 20, 2015, the Consumer Financial Protection Bureau (CFPB) and New York Department of Financial Services (NYDFS) filed suit in the U.S. District Court for the Central District of California against two pension...more
The New York Department of Financial Services (DFS) has amended several provisions of its Third-Party Debt Collector and Debt Buyer Regulations and issued additional guidance in the form of new frequently asked questions...more
Student lending continues to remain in the crosshairs of federal and state consumer finance regulators during the summer months, with over five enforcement actions and investigations in recent weeks. As covered in both...more