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Financial Services Industry Savings Accounts

Goodwin

CFPB Enters Into Consent Order With Financial Technology Company

Goodwin on

On May 7, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a financial technology company, resolving allegations that the company committed unfair acts or practices...more

Ballard Spahr LLP

CFPB Publishes Consumer Response Annual Report

Ballard Spahr LLP on

The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’...more

BCLP

FCA’s Cash Savings Market Review

BCLP on

On 31 July 2023, following roundtable discussions held with banks earlier that month, the FCA published its Cash Savings Market Review (the “Review”). In this insight we explore the content of the Review, as well as...more

Troutman Pepper

CFPB Releases Blog Post Favoring Use of Self-Reported Cash Flow Data in Credit Underwriting

Troutman Pepper on

On July 27, the Consumer Financial Protection Bureau (CFPB) released a new blog post, positing that cashflow data, broadly defined as the various inflows, outflows, and accumulated amounts in a consumer’s checking and savings...more

Buchalter

Another Bank Settles Citizenship Discrimination Suit

Buchalter on

The California Unruh Act (specifically, California Civil Code § 51) prohibits “all business establishments of every kind whatsoever” from discriminating based on citizenship or immigration status, among other things. That...more

Cadwalader, Wickersham & Taft LLP

CFPB Takes Down High-Yield Savings Account Scam, Defendants Also Charged By the SEC

The Consumer Financial Protection Bureau (“CFPB”) announced a proposed consent order on December 1 intended to address a scam engaged in by a company called Loan Doctor, as well as by the company’s founder, Edgar Radjabli....more

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