On July 19, 2023, the Consumer Financial Protection Bureau (“CFPB”) sued Snap Finance LLC, Snap R TO LLC, Snap Second Look LLC, Snap U.S. Holdings LLC, and Snap Finance Holdings LLC (collectively, the Snap Defendants or...more
7/25/2023
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Electronic Fund Transfer Act ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Regulation E ,
Regulation V ,
Regulation Z ,
Regulatory Violations ,
Truth in Lending Act (TILA)
On Monday May 10, 2023, the Consumer Financial Protection Bureau (CFPB or the Bureau) released a circular regarding the Bureau’s newest guidance that if a “financial institution unilaterally reopens [deposit] accounts to...more