News & Analysis as of April 23, 2025

CARES Act

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Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms helping to make sense of insurance, employment, tax, securities, M&A, risk management, and every other consideration touched by this crisis. Follow the channel for a daily email brief of the latest and best updates. less -

Ninth Circuit holds mortgage servicer’s reporting of Covid-19 forbearance plan complied with FCRA and CARES Act

Ballard Spahr LLP on 2/3/2023

In a win for Ballard Spahr client Specialized Loan Servicing LLC (SLS), the U.S. Court of Appeals for the Ninth Circuit recently held that SLS, a mortgage servicer, properly reported a Covid-19 forbearance plan under the...more

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - April 2021

Troutman Pepper Locke on 4/7/2021

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

CFPB Rescinds Guidance Regarding FCRA and Regulation V Compliance Under CARES Act

Troutman Pepper Locke on 4/5/2021

On March 31, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it is rescinding its April 1, 2020 policy statement regarding the Fair Credit Reporting Act (FCRA) and Regulation V following the enactment of...more

CFPB Rescinds 2020 Policy Statements Issued Due to COVID-19

Bradley Arant Boult Cummings LLP on 4/2/2021

On March 31, 2021, the Consumer Financial Protection Bureau (CFPB) rescinded seven recent policy statements and one bulletin in an effort to ensure compliance with consumer protection laws and reinforce its supervisory and...more

2020 Consumer Financial Services Year in Review & A Look Ahead

Troutman Pepper Locke on 3/3/2021

2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more

Acting Director David Uejio Issues Warning: CFPB Will Take Aggressive Action with Regard to COVID-19

Bradley Arant Boult Cummings LLP on 2/3/2021

On January 28, 2021, Acting Director David Uejio of the Consumer Financial Protection Bureau (CFPB) confirmed the CFPB’s new, aggressive approach to enforcement of COVID-19-related matters. Uejio’s statement, posted as a...more

[Virtual Event] 27th NATIONAL FORUM ON Residential Mortgage Regulatory Enforcement & Litigation - November 17th - 18th, 9:00 am -...

American Conference Institute (ACI) on 11/13/2020

ACI’s Residential Mortgage Forum is a premier gathering of leading servicers, lenders, external counsel, and regulators engaging in dialogue on how to navigate the very complex residential mortgage enforcement and litigation...more

Creditors Must Continue to Take Proper Care under the CARES Act

Foley & Lardner LLP on 8/24/2020

Recently, the Consumer Financial Protection Bureau (CFPB) issued a compliance aid that addresses frequently asked questions related to the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) and the COVID-19...more

CFPB Shifts Focus in Light of COVID-19

Womble Bond Dickinson on 7/22/2020

The Consumer Financial Protection Bureau (“CFPB”) hosted a webinar, led by Director Kathy Kraninger and Associate Director for Supervision, Enforcement, and Fair Lending Bryan Schneider, laying out its supervisory and...more

Employment Flash - July 2020

Skadden, Arps, Slate, Meagher & Flom LLP on 7/20/2020

This edition of Employment Flash summarizes key employment law issues related to COVID-19 as well as two seminal U.S. Supreme Court rulings that protect gay and transgender employees from discrimination, and clarify the...more

Credit Reporting and COVID: What did the CARES Act change? [More with McGlinchey Ep. 5]

McGlinchey Stafford on 7/13/2020

Under the CARES Act, borrowers must be affected by COVID-19 and receive an “accommodation” for their creditors to be subject to new FCRA reporting obligations. However, the CARES Act does not explain how the consumer needs to...more

CFPB Statement Clarifies Credit Reporting And CARES Act

McGlinchey Stafford on 7/9/2020

On April 1, 2020, as the nation was in the beginning stages of its COVID-19 shutdown and companies, including financial institutions, encountered operational challenges, the CFPB released a statement on supervisory...more

CFPB Issues CARES Act Credit Reporting FAQs

BCLP on 6/30/2020

On June 16th, the CFPB issued a Compliance Aid Frequently Asked Questions (FAQs) addressing the CARES Act changes to the Fair Credit Reporting Act (FCRA) and clarifying furnisher reporting obligations regarding consumers who...more

FCRA Consumer Disputes and Reinvestigations

Arnall Golden Gregory LLP on 6/29/2020

Additional guidance offered to address the question of how to handle consumer disputes under the Fair Credit Reporting Act (FCRA). The Consumer Financial Protection Bureau (CFPB) issued a Compliance Aid to assist in...more

CFPB Issues Compliance Aid Regarding CARES Act Credit Reporting Provisions

Akerman LLP on 6/29/2020

On June 16, the Consumer Financial Protection Bureau (CFPB) issued a compliance guide clarifying the credit reporting protections provided by the Coronavirus Aid, Relief and Economic Security (CARES) Act....more

Credit Reporting During the COVID-19 Outbreak: CFPB Issues FAQs for CARES Act Requirements

Bradley Arant Boult Cummings LLP on 6/26/2020

The CFPB recently issued its “Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic,” addressing 10 credit reporting issues. While the FAQs provide some much-needed clarity for furnishers of information and...more

U.S. COVID-19: The CARES Act - CFPB Provides Additional Guidance For Credit Reporting During the COVID-19 Pandemic

BCLP on 6/24/2020

It has been nearly three months since the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. As we’ve written in previous Client Alerts, the CARES Act modifies the Fair Credit Reporting...more

CFPB Issues First Version of FAQS Addressing Consumer Reporting in the COVID-19 Pandemic

Womble Bond Dickinson on 6/22/2020

Since the passage of the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”), Pub. L. 116-136, on March 27, 2020, there has been much uncertainty and confusion arising from that portion of the CARES Act which...more

CFPB issues credit reporting FAQs for industry related to CARES Act requirements

Ballard Spahr LLP on 6/18/2020

The CFPB issued ten FAQs for industry that address the CARES Act’s credit reporting requirements and other COVID-19-related credit reporting issues....more

CFPB CARES Act Nuance: Comment Code Alone Does Not Cut It

McGlinchey Stafford on 6/17/2020

On Tuesday, the Consumer Financial Protection Bureau issued a Bulletin entitled Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic. The CFPB’s Bulletin reminds creditors that compliance with the Fair...more

Credit Reporting in a COVID World

Hudson Cook, LLP on 6/10/2020

Creditors that furnish information on consumer accounts to consumer reporting agencies must do so with accuracy and integrity consistent with the Fair Credit Reporting Act and its implementing regulations. "Accuracy" means...more

Credit Reporting During a Pandemic

McGlinchey Stafford on 5/18/2020

Alert May 18, 2020 The economic impact of COVID-19 has already proven catastrophic for many businesses and consumers. Many employers are reducing their staffing or closing their doors permanently. As of May 8, 2020, the...more

COVID-19: Credit Reporting in the Age of COVID-19

K&L Gates LLP on 5/1/2020

The CARES Act’s Impact on Furnisher Liability Under the Fair Credit Reporting Act - As part of the federal government’s efforts to provide relief from the economic impact of the COVID-19 pandemic to consumers, Congress took...more

The RESPONSE: Federal and State Actions Affecting the Financial Services Industry - Edition 14

Holland & Knight LLP on 4/30/2020

Like our clients, Holland & Knight's Financial Services Industry Group is committed to actively contributing to our nation's response to the coronavirus (COVID-19) pandemic and related economic fallout and recovery efforts. ...more

RECAP: Changes to the Fair Credit Reporting Act in the Wake of the Unprecedented COVID-19 Pandemic

Womble Bond Dickinson on 4/30/2020

With over 22 million Americans currently out of work, the COVID-19 pandemic has proven to be both a global health crisis and a period of economic instability. Over the past few weeks, a number of new regulations have been...more

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Coronavirus/COVID-19 › Fair Credit Reporting Act (FCRA) › CARES Act

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