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Financial Services Industry › Policies and Procedures › Consumer Financial Products

Hudson Cook, LLP

CFPB Issues Consent Order Related to Bank's Duplicative Force-Placed Insurance Policies

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On July 9, 2024, the Consumer Financial Protection Bureau issued a consent order against a nationally chartered bank that, among other things, includes a number of allegations related to the bank's policies regarding...more

Holland & Knight LLP

Will Mariner Finance Decision Lead State Regulators to Bring CFPA Claims?

Holland & Knight LLP on

A lengthy decision recently issued by the U.S. District Court for the Eastern District of Pennsylvania, Pennsylvania by Shapiro v. Mariner Fin., LLC, No. CV 22-3253, 2024 WL 169654 (E.D. Pa. Jan. 12, 2024) (Hodge, J.), may...more

Goodwin

Why Your Consumer Complaint Response Function Is Vital to Your Business

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If you’re offering a financial product or service to consumers, such as a deposit account, loan, credit card, or payment service, you need a strong consumer complaint response function. This is true whether you’re an...more

Hanzo

Why Marketing Compliance for Financial Services Is A Big Deal

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In today's fiercely competitive business landscape, financial services companies, like their counterparts in other industries, rely on advertising and digital marketing strategies to create brand recognition, promote their...more

Cadwalader, Wickersham & Taft LLP

OCC Issues Updated Enforcement Action Policies and Procedures Manual

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The Office of the Comptroller of the Currency (“OCC”) issued an updated Policies and Procedures Manual (PPM 5310-3) on Bank Enforcement Actions and Related Matters last week. The PPM is updated from the 2018 issuance. The...more

Ballard Spahr LLP

CFPB issues special edition of Supervisory Highlights focused on consumer reporting

Ballard Spahr LLP on

The CFPB has issued a special edition of its Supervisory Highlights that focuses on compliance with the FCRA and Regulation V. The report contains two main sections, with one devoted to supervisory observations at furnishers...more

Ballard Spahr LLP

Google updates financial products and services policy to restrict advertising of debt relief services

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Google has updated its financial products and services policy to restrict the advertisement of debt settlement, debt management services, and credit repair services....more

Ballard Spahr LLP

CFPB addresses RESPA issue in its first no-action letter under the revised final policy

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In its first No-Action Letter under the new revised policy, the CFPB addresses a long-standing issue under the Real Estate Settlement Procedures Act regarding certain payment arrangements between mortgage lenders and housing...more

Ballard Spahr LLP

OCC small-dollar lending bulletin: one step forward but one step back?

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The OCC has issued a bulletin (2018-14) setting forth core lending principles and policies and practices for short-term, small-dollar installment lending by national banks, federal savings banks, and federal branches and...more

Ballard Spahr LLP

OCC issues risk management principles for new activities

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On October 20, 2017, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2017-43 (the “Bulletin”) outlining principles that OCC-supervised banks should follow to prudently manage the risks associated with...more

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