Having previously announced that it was withdrawing its Buy Now, Pay Later rule, the CFPB recently said that it does not intend to issue a revised rule....more
6/23/2025
/ Administrative Procedure Act ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
New Regulations ,
Regulation Z ,
Rulemaking Process ,
Truth in Lending Act (TILA)
The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry. ...more
6/13/2025
/ Borrowers ,
Consumer Reporting Agencies ,
Fair Credit Reporting Act (FCRA) ,
Financial Regulatory Reform ,
Financial Services Committee ,
Financial Services Industry ,
Homebuyer Protection Acts ,
Lead Generators ,
Mortgage Lenders ,
Mortgages ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Requirements ,
State Attorneys General ,
Unsolicited Advertisements
As Rich Andreano blogged on April 15, 2025, legislation to prohibit or restrict so-called “trigger leads” in the home-buying process has been reintroduced in the House and Senate. The legislation has broad industry and...more
5/21/2025
/ Fair Credit Reporting Act (FCRA) ,
Financial Regulatory Reform ,
Lead Generators ,
Mortgage Lenders ,
Mortgages ,
Preemption ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Requirements ,
State and Local Government ,
State Legislatures ,
Unfair or Deceptive Trade Practices
If there was any doubt about how the Consumer Financial Protection Bureau (“CFPB”) (under current leadership) feels about what it calls “home equity contracts” (also known as shared appreciation agreements, shared equity...more
In the wake of the Office of Administrative Law’s approval of its registration and reporting requirements for providers of income-based advances, private postsecondary education financing, debt settlement services, and...more
12/3/2024
/ California ,
California Consumer Financial Protection Law (CCFPL) ,
Comment Period ,
Consumer Financial Products ,
Department of Financial Protection and Innovation (DFPI) ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Office of Administrative Law Judges (OALJ) ,
Proposed Regulation ,
Regulatory Agenda ,
Regulatory Requirements
The CFPB has scheduled two sessions to provide a preview of its nonbank enforcement order registry. The virtual-only discussions are scheduled for September 30 and October 9. Both sessions will feature the same content....more
In April 2024, Wisconsin and Maine enacted the Model Money Transmission Modernization Law (“MTML”) to implement the Conference of State Bank Supervisors’ Model Money Transmission Modernization Act. As of April 22, 2024,...more
Maryland has joined the ranks of states considering legislation that would codify elements of “true lender” theory in an effort to impose federally preempted state licensing requirements and rate caps on loans to Maryland...more
Significant changes to Connecticut’s licensing laws for consumer financial services providers will take effect on October 1, 2018. In addition to changes impacting mortgage-related licensees (e.g. mortgage lenders,...more