President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process...more
8/12/2025
/ Adverse Action ,
Banking Regulators ,
Banks ,
Consumer Financial Products ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulatory Reform ,
Reputation Management ,
Risk Management ,
Trump Administration
In May 2022, the CFPB issued Circular 2022-3 addressing Equal Credit Opportunity Act (ECOA) adverse action notice requirements in connection with credit decisions based on algorithms. The CFPB is now revisiting the issue in...more
A new FTC blog post titled “Tenant background check reports: Put it in writing” reminds landlords, property managers, and other housing providers of their obligation under the Fair Credit Reporting Act to provide notice of...more
8/1/2023
/ Adverse Action ,
Background Checks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reports ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Housing Market ,
Landlords ,
Notice Requirements ,
Rental Applications ,
Rental Property ,
Screening Procedures ,
Tenants