Texas Gov. Greg Abbott signed House Bill (HB) 700 into law on June 20, 2025, despite significant opposition from industry with respect to one critical legislative provision. This follows the legislation's approval by the...more
The CFPB announced on May 9, 2025, that nearly 70 guidance documents will be withdrawn after an agency-wide review of documents that violate the Administrative Procedure Act (APA). ...more
On April 15, 2025, Judge Mark T. Pittman of the U.S. District Court for the Northern District of Texas entered an order and final judgment vacating the CFPB's credit card penalty fees rule (the Late Fee Rule). Judge Pittman's...more
4/23/2025
/ Administrative Procedure Act ,
CARD Act ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Disclosure Requirements ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
Judicial Authority ,
Late Fees ,
Regulatory Reform ,
Settlement ,
Vacated
The CFPB will begin the process of discontinuing regulatory "guidance" and instead enforce the Administrative Procedure Act's rulemaking process. In a pair of internal memos circulated to all divisions and offices within the...more
Business email compromise (BEC) fraud, driven by technology and increasing sophistication by criminal organizations, has become a major issue for both consumers and financial institutions. According to a September 2024...more
4/3/2025
/ Appeals ,
Corporate Liability ,
Credit Unions ,
Electronic Communications ,
Email ,
Financial Crimes ,
Financial Institutions ,
Financial Services Industry ,
Fraud ,
Liability ,
Phishing Scams ,
Privity of Contract ,
Scams ,
Uniform Commercial Code (UCC)
The Consumer Financial Protection Bureau (CFPB) on Dec. 3, 2024, issued its long-awaited proposed rule to amend Regulation V (Proposed Rule), which implements the Fair Credit Reporting Act (FCRA). If enacted, the CFPB's...more
12/10/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Data Brokers ,
De-Identification ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Proposed Rules ,
Regulation V ,
Sensitive Personal Information
purred by increased online and mobile app shopping during the COVID-19 pandemic, the Buy Now, Pay Later (BNPL) market has experienced higher growth and popularity as an innovative consumer finance offering, particularly for...more
9/25/2024
/ Buy Now Pay Later (BNPL) ,
Chevron Deference ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Financial Services Industry ,
FinTech ,
Interpretive Rule ,
Policy Statement ,
Regulation Z ,
Truth in Lending Act (TILA)