The CFPB's Nonbank Registry Rule: Challenges and Implications — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: The CFPB’s Registry of Nonbanks and Circular that Certain Contract Terms Violate Law
The Future of Digital Consumer Payment Applications: CFPB's Proposed Larger Participant Rule – The Consumer Finance Podcast and Payments Pros Podcast
Podcast: Private Fund Regulatory Update: Post-U.S. Government Shutdown
On April 11, the CFPB announced it would not “prioritize enforcement or supervision actions” regarding entities who do not meet the registration deadlines under the nonbank registry rule. As previously covered by InfoBytes,...more
On April 11, the CFPB announced that it will not prioritize enforcement or supervision against nonbank financial companies that miss registration deadlines under its Repeat Offender Registry. The Bureau also stated that it is...more
The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta....more
The Basel Committee on Banking Supervision (BCBS) has published a press release providing an update on its workstreams. The BCBS states that it will publish by mid-2025 an update on the outcome of its work to prepare a suite...more
AT A GLANCE - The rise of the direct lending market has led to a dramatic rise in supporting liquidity strategies to optimize the market. These strategies include the use of financings to provide market participants with...more
The UK Financial Conduct Authority (FCA) has published a speech by Sarah Pritchard, executive director of consumers, competition and international, on the FCA's approach to non-bank financial intermediation (NBFI) leverage....more
The 2025 Fund Finance conference in Miami convened industry leaders, innovators, and experts to explore the latest trends and challenges in the rapidly evolving world of fund finance. Set against the backdrop of Miami's...more
On 25 February 2025, Sarah Pritchard, executive director of consumers, competition, and international at the UK Financial Conduct Authority (FCA), delivered a speech at the Investment Association Roundtable where she outlined...more
Back when NAV was something that guided you to your chosen venue for the evening, the FFA conference in Miami (and earlier still, New York) was a slightly more 'NAV'igable event....more
On January 22, 2025, New York Attorney General (NYAG) Letitia James announced a judgment and settlement against cash advance provider Yellowstone Capital, its officers, and two dozen affiliates (Yellowstone) for more than $1...more
On 21 January 2025, the UK’s Prudential Regulation Authority (PRA) published two supervisory letters outlining 2025 priorities for international banks and UK deposit takers, respectively. In this note, we look at some of the...more
The CFPB has taken action against the Draper & Kramer Mortgage Corp. (DKMC) based on allegations of discriminatory lending activities that, according to the CFPB, discouraged homebuyers from applying to the company for home...more
On January 6, 2025, the CFPB filed a lawsuit against a non-bank manufactured home financing company for violations of the Truth in Lending Act and Regulation Z. The lawsuit alleges that the mortgage lender engaged in...more
The Financial Stability Board has published a consultation report on policy measures to address leverage in non-bank financial intermediation where it can create financial stability risks. The measures aim to help authorities...more
The Financial Stability Board has published a final report on liquidity preparedness for margin and collateral calls. The report sets out policy recommendations to enhance the liquidity preparedness of non-bank market...more
The Financial Stability Board has published two final reports on recommendations to promote greater alignment and interoperability across data frameworks related to cross-border payments, and consistency in the regulation and...more
The Australian Treasury released an Exposure Draft on 26 November 2024 (Amending Rules) proposing amendments to the Competition and Consumer (Consumer Data Right) Rules 2020 (CDR Rules). Whilst the government designated the...more
The European Central Bank has published the Eurosystem's response to the European Commission's consultation on macroprudential policies for non-bank financial intermediation. This is on behalf of the ECB and the national...more
The CFPB will hold two virtual sessions later this month to answer questions about its Nonbank Enforcement Action Registry rule. The rule, issued in June 2024, will require certain nonbank entities to register certain covered...more
In this episode of The Consumer Finance Podcast, host Chris Willis is joined by Jesse Silverman and Matt Morris to explore the complexities of the CFPB's nonbank registry rule. This regulation, introduced in 2024, has...more
The Financial Stability Board has published a letter sent to the G20 leaders ahead of their meeting on November 18, 2024, together with the FSB 2024 annual report...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
On November 21, the CFPB announced the arrival of its finalized larger participant rule (the “Rule”) regulating nonbank companies offering digital funds transfer and payment wallet applications to consumers....more
Financial institutions are now required to notify the Federal Trade Commission about any security breach that involves the information of 500 customers or more. The breach must be reported no later than 30 days after it is...more
On November 1, the CFPB filed a proposed stipulated final order that would resolve the Bureau’s pending lawsuit in the Northern District of Illinois against a nonbank mortgage lender and broker for allegedly engaging in...more