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Financial Services Industry Credit Reports Equal Credit Opportunity Act

Ballard Spahr LLP

NCLC Asks CFPB to Consider Residential Leases as Credit for Specific Purposes

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The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more

Goodwin

2023 Year in Review: Credit Reporting

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Welcome to the Credit Reporting chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - The CFPB’s announcement of a proposed rulemaking to remove medical bills from...more

Hudson Cook, LLP

Adverse Action Notices - A Compliance Issue That Should Not Be Overlooked

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Adverse action notices, a perennial compliance issue, should not be neglected and, indeed, warrant closer scrutiny. The CFPB has long been interested in adverse action issues....more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Small Dollar Lending

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to small-dollar lending. So, what happened in 2022?...more

Holland & Knight LLP

CFPB Proposes Settlement with Debt Collector for Failing to Investigate Identity Theft Reports

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With the ongoing COVID-19 pandemic, credit card companies may face increased scrutiny, as Consumer Financial Protection Bureau (CFPB) Acting Director Dave Uejio recently stated that "credit reports play a huge role in...more

Ballard Spahr LLP

Lawsuit By 3 Trade Groups Challenging Nevada Spousal Credit History Law Dismissed

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A federal District Court judge in Nevada has dismissed a case filed by several trade associations against the Commissioner of the Financial Institutions Division (“FID”) of the Nevada Department of Business and Industry and...more

Ballard Spahr LLP

Trade groups respond to Nevada regulator and AG in lawsuit challenging Nevada law

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We recently provided an update in a case we’ve been following involving a lawsuit challenging a Nevada statute, SB 311, that allows an applicant for credit with no credit history to request that a creditor treat an...more

Ballard Spahr LLP

Trade groups respond to motion to dismiss lawsuit challenging Nevada law allowing applicant to rely on spouse’s or former spouse’s...

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The three trade groups challenging an amendment to Nevada law that allows an applicant for credit with no credit history to request that the creditor deem the applicant’s credit history to be identical to that of the...more

Ballard Spahr LLP

Trade groups challenge Nevada law allowing applicant’s reliance on spouse’s or former spouse’s credit report

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On October 1, three trade groups filed a lawsuit in Nevada federal court challenging an amendment to Nevada law that allows an applicant for credit with no credit history to request that the creditor deem the applicant’s...more

Ballard Spahr LLP

GAO determination that leveraged lending guidance is subject to CRA could foreshadow similar fate for CFPB indirect auto finance...

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In May 2017, we blogged about press reports that the Government Accountability Office (GAO) had accepted a request from Senator Patrick Toomey for a determination concerning whether the CFPB Bulletin 2013-02, titled “Indirect...more

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