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Terms and Conditions Consumer Financial Products

Ballard Spahr LLP

Appeals Court Says Terms and Conditions Contained in Unsigned Auto Rental ‘Terms and Conditions’ are Part of the Consumer Contract

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Unsigned Terms and Conditions found in a preprinted car rental jacket are part of the contract between the parties under Florida, Arizona and Colorado law because they were properly incorporated by reference into the signed...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Small Dollar Lending, Lease-to-Own, and Alternative Financial Services

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to the small dollar lending, lease-to-own, and alternative financial services industries. ...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Student Lending

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In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more

Bass, Berry & Sims PLC

New York Officially Eliminates Ban on Surcharges

Bass, Berry & Sims PLC on

This week, New York Governor Kathy Hochul signed into law Assembly Bill No. 2672, which amends Section 518 of the New York General Business Law. The law previously prohibited merchants from imposing a surcharge on customers...more

Eversheds Sutherland (US) LLP

CFPB issues policy statement on abusiveness with a focus on digital interaction

On April 3, the CFPB issued a policy statement intended to provide “a framework to help federal and state enforcers identify when companies engage in abusive conduct.” Conduct violates the abusiveness standard when it either:...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2023 - May Old Compliance Acquaintances be Forgot

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In this month's article, we share some of our top "bites" for the prior month covered during the January 18, 2023, webinar. Bite # 8: The CFPB Publishes Civil Penalty Inflation Adjustments Rule in Federal Register - ...more

Cozen O'Connor

CFPB Proposes Registry of Terms and Conditions in Consumer Financial Form Contracts

Cozen O'Connor on

The CFPB has proposed a rule that aims to protect consumers from fine print in non-negotiable contracts with nonbanks that provide consumer financial services. The proposed rule would require nonbanks that are subject to...more

Orrick, Herrington & Sutcliffe LLP

CFPB proposes T&C registry for nonbanks

On January 11, the CFPB announced a proposed rule to create a public registry of terms and conditions used in non-negotiable, “take it or leave it” nonbank form contracts that “claim to waive or limit consumer rights and...more

Shipkevich PLLC

CFPB Proposed New Rule to Establish Public Registry of “Take It Or Leave It” Contract Terms and Conditions

Shipkevich PLLC on

On January 11, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule to apparently shed light on the dark corners of the financial industry. The proposed rule would create a public registry of the fine...more

Moore & Van Allen PLLC

CFPB Announces LIBOR Transition’s Final Rule, Amending Provisions of Regulation Z

On December 7, 2021, the Consumer Financial Protection Bureau (“CFPB”) published its final rule (“Rule”) facilitating the transition away from LIBOR for open-end and closed-end consumer financial products. The Rule amends...more

Payne & Fears

Changing Your Terms and Conditions? If So, Your Company Must Provide Express Notice to Consumers

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The Ninth Circuit recently reminded companies that they must provide notice to consumers when they change their terms and conditions, even where original terms state that they are subject to change at-will and at any time...more

Ballard Spahr LLP

CFPB Enters into a Settlement with ITT Private Loan Investors

Ballard Spahr LLP on

It appears that the final chapter of the ITT Educational Services, Inc. (“ITT”) story was written last week with the CFPB’s announcement that it entered into a stipulated settlement with PEAKS Trust 2009-1 (“PEAKS”), a...more

Mintz - Real Estate, Construction &...

California Usury Law: A Search for Clarity around Compound Interest

California usury law is addressed in multiple places: the California Constitution, statutes, case law, and initiative measures. Due to the patchwork nature of this body of law, differing interpretations and ambiguity are...more

BCLP

Convenience vs. Compliance: Behavior-Driven Marketing of Credit Products

BCLP on

Bryan Cave’s Ken Achenbach joins hosts Jonathan Hightower and Rob Klingler to discuss the data-driven marketing of credit products by financial services companies....more

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