The CFPB’s Spring 2017 rulemaking agenda has been published as part of the Spring 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more
7/21/2017
/ Banking Sector ,
Closing Documents ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Deposit Advances ,
Deregulation ,
Dodd-Frank ,
FDCPA ,
Financial Regulatory Reform ,
Mortgages ,
Overdraft Fees ,
Payday Loans ,
Regulatory Oversight ,
SBREFA ,
Small Business ,
Title Loans
The CFPB has issued its March 2017 complaint report that highlights credit card complaints. The report also highlights complaints from consumers in Massachusetts and the Boston metro area. ...more
4/4/2017
/ Banking Sector ,
Consumer Complaint System ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Debt Collection ,
Deferred Interest Products ,
Financial Services Industry ,
Fraudulent Charges ,
Payday Loans ,
Student Loans
The CFPB has issued its February 2017 complaint report that highlights credit reporting complaints. The report also highlights complaints from consumers in Louisiana and the New Orleans metro areas....more
The FTC has sent a letter to the CFPB summarizing the FTC’s debt collection activities in 2016. The letter is intended to provide the CFPB with information for its annual report to Congress on the federal government’s FDCPA...more
The CFPB has issued its January 2017 complaint report that highlights mortgage complaints. The report also highlights complaints from consumers in Tennessee and the Memphis and Nashville metro areas....more
2/9/2017
/ Consumer Complaint Database ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Financial Institutions ,
Mortgages ,
Online Marketplace Lending ,
Payday Loans ,
Prepaid Payment Products ,
Real Estate Market ,
Student Loans
At the meeting earlier this month of the American Bar Association’s Consumer Financial Services Committee in Carlsbad, CA, attention was given to an issue highlighted by the American Bankers Association in the comment letter...more
1/23/2017
/ Ability-to-Repay ,
American Bankers Association ,
American Bar Association (ABA) ,
Annual Percentage Rate (APR) ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Online Marketplace Lending ,
Payday Loans ,
Regulation Z ,
Title Loans
The California federal district court judge who is presiding over the CFPB’s lawsuit against CashCall and several related companies that funded, purchased, serviced, and collected online installment loans has granted the...more
1/19/2017
/ § 1292(b) Certification ,
Appeals ,
Banking Sector ,
CashCall ,
Choice-of-Law ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
Financial Institutions ,
Interlocutory Appeals ,
Internet Lenders ,
Loans ,
Native American Issues ,
Online Marketplace Lending ,
Partial Summary Judgments ,
Payday Loans ,
Stays ,
Summary Judgment ,
Tribal Loans ,
True Lender
The CFPB’s Fall 2016 rulemaking agenda has been published as part of the Fall 2016 Unified Agenda of Federal Regulatory and Deregulatory Actions. The preamble indicates that the information in the agenda is current as of...more
12/2/2016
/ Advances ,
Arbitration ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Debt Collection ,
Debt Collectors ,
ECOA ,
FDCPA ,
Financial Institutions ,
Minority-Owned Businesses ,
Mortgages ,
Overdraft Fees ,
Payday Loans ,
Regulation C ,
Regulatory Agenda ,
SBREFA ,
Small Business ,
Small Entity Representatives (SERs) ,
Student Loans ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Title Loans ,
Trump Administration ,
Women-Owned Businesses
The CFPB has issued its October 2016 complaint report which highlights complaints about prepaid cards and complaints from consumers in North Carolina and the Charlotte metro area. The CFPB began taking prepaid card...more
10/27/2016
/ Consumer Complaint Database ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Collection ,
Financial Institutions ,
Mortgages ,
Online Marketplace Lending ,
Payday Loans ,
Prepaid Payment Products ,
Real Estate Market ,
Student Loans
The CFPB has issued its September 2016 complaint report which highlights complaints about money transfers and complaints from consumers in Pennsylvania and the Philadelphia metro area. The CFPB began taking money transfer...more
9/28/2016
/ Banking Sector ,
Consumer Complaint System ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Reporting Agencies ,
Debt Collection ,
Money Transfer ,
Mortgages ,
Online Marketplace Lending ,
Payday Loans ,
Student Loans
The CFPB announced that it has filed administrative enforcement actions against five Arizona auto title lenders for alleged violations of Truth in Lending Act advertising requirements. According to the CFPB, the lenders...more
9/23/2016
/ Advertising ,
Automotive Industry ,
Automotive Loans ,
Banking Sector ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Interest Rates ,
Online Marketplace Lending ,
Payday Loans ,
Title Loans ,
Truth in Lending Act (TILA) ,
Websites
By a vote of 30-26 earlier this week, the House Financial Services Committee approved the “The Financial CHOICE Act of 2016” (H.R. 5983), the bill released in July 2016 by Committee Chairman Jeb Hensarling to replace the...more
9/15/2016
/ Arbitration ,
Arbitration Agreements ,
Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Financial Services Committee ,
Financial Services Industry ,
Legislative Agendas ,
Native American Issues ,
Online Marketplace Lending ,
Payday Loans ,
Proposed Legislation ,
Regulatory Oversight ,
Tribal Loans
The Consumer Financial Services Association of America (CFSA) issued a statement in which it reported that documents it received from the CFPB in response to a Freedom of Information (FOIA) request filed on December 31, 2015...more
The Small Business Administration’s Office of Advocacy will host a roundtable in London, Kentucky on September 14, 2016 on the CFPB’s proposed payday loan rule. As the Office of Advocacy is an independent office within the...more
9/1/2016
/ Ability-to-Repay ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Online Marketplace Lending ,
Payday Loans ,
Roundtable ,
SBA ,
SBREFA ,
Small Business ,
Small Entity Representatives (SERs)
The Government Accountability Office has issued a report on the CFPB’s use of Small Business Regulatory Enforcement Fairness Act (SBREFA) panels in its rulemaking process. The report, “Observations from Small Business Review...more
8/17/2016
/ Arbitration ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
GAO ,
HMDA ,
Loan Originator Compensation Rule ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
Online Marketplace Lending ,
Payday Loans ,
SBREFA ,
Small Business ,
TILA-RESPA Integrated Disclosure Rule (TRID)
CFPB has issued its July 2016 complaint report which highlights complaints about credit cards and complaints from consumers in Washington and the Seattle metro area. The CFPB began taking credit card complaints on July 21,...more
7/28/2016
/ Banking Sector ,
Consumer Complaint Management ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Debt Collection ,
Mortgages ,
Online Marketplace Lending ,
Payday Loans ,
Student Loans
The CFPB is publishing a notice in tomorrow’s Federal Register to correct the comment deadline for its payday loan Request for Information (RFI). The corrected deadline will be November 7, 2016.
The RFI seeks feedback...more
The CFPB’s proposed payday loan rule and related Request for Information (RFI) were published in this past Friday’s Federal Register. The RFI seeks feedback regarding consumer protection concerns pertaining to (1) loan...more
A group of 27 Democratic Senators joined by Independent Senator Bernie Sanders have sent a letter to Director Cordray urging the CFPB to “strengthen” its proposed payday loan rule.
The Senators take aim at the proposal’s...more
The CFPB has issued its June 2016 complaint report which highlights complaints about consumer loans and complaints from consumers in Arkansas and the Little Rock metro area. The CFPB began taking consumer loan complaints in...more
7/1/2016
/ Automotive Loans ,
Banking Sector ,
Consumer Complaint System ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
Mortgage Servicers ,
Online Marketplace Lending ,
Payday Loans ,
Student Loans ,
Title Loans
The Independent Community Bankers of America and the Credit Union National Association have sent a letter to Director Cordray “to express serious concerns” about the CFPB’s proposed rule covering single-payment payday and...more
6/30/2016
/ Ability-to-Repay ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Unions ,
Independent Community Bankers of America (ICBA) ,
Online Marketplace Lending ,
Payday Loans ,
Title Loans
The Federal Trade Commission (FTC) has provided its annual report to the Consumer Financial Protection Bureau (CFPB) covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in...more
6/10/2016
/ Automotive Industry ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
EFTA ,
Federal Trade Commission (FTC) ,
Payday Loans ,
Popular ,
Real Estate Market ,
Regulation E ,
Regulation M ,
Regulation Z ,
Truth in Lending Act (TILA)
According to a Politico report, the House Appropriations Committee has advanced a bipartisan amendment to the FY17 Financial Services and General Government Appropriations bill that would block the CFPB from enforcing a rule...more
6/9/2016
/ Ability-to-Repay ,
Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Legislative Committees ,
Online Marketplace Lending ,
Payday Loans ,
Title Loans
The Federal Trade Commission has provided its annual report to the CFPB covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in Lending), Regulation M (Consumer Leasing), and...more
6/7/2016
/ Automotive Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
EFTs ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Mortgages ,
Payday Loans ,
Popular ,
Regulation E ,
Regulation M ,
Regulation Z ,
Title Loans ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
Tomorrow, in conjunction with a field hearing on small dollar loans, the CFPB is expected to issue its proposed rule addressing single-payment payday and auto title loans, deposit advance products, and certain “high cost”...more