The State of California is home to almost 40 million consumers and the world’s fifth largest economy. It represents a key exposure to most financial services companies’ US footprint. In recent years nonbank financial services...more
2/19/2020
/ Banks ,
BSA/AML ,
California Consumer Privacy Act (CCPA) ,
Commercial Loans ,
Consumer Lenders ,
Consumer Protection Laws ,
Data Privacy ,
Department of Business Oversight ,
Federal Advisory Committee Act (FACA) ,
Financial Services Industry ,
FinCEN ,
Governor Newsom ,
Interest Rate Caps ,
Lenders ,
Money Transmitter ,
New Rules ,
Payment Systems ,
State Regulators ,
Unfair Competition
The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau....more
3/14/2019
/ Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Regulatory Agencies ,
FinTech ,
GLBA Privacy ,
Loans ,
NYDFS ,
OCC ,
Online Marketplace Lending ,
RICO ,
State Attorneys General ,
State Regulators ,
Trump Administration
In 2018, the CFPB shifted away from student lending supervision and enforcement. We anticipate this trend to continue in the year to come, with states seeking to fill any voids left by the Bureau....more
3/9/2019
/ Congressional Investigations & Hearings ,
Consumer Complaint Management ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Department of Education ,
Director Mulvaney ,
Enforcement Statistics ,
Federal Trade Commission (FTC) ,
FinTech ,
Loan Servicing ,
Ombudsman ,
Political Parties ,
Popular ,
Preemption ,
State Attorneys General ,
State Legislatures ,
Student Loans ,
Students ,
Trump Administration
In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more
3/6/2019
/ Amended Regulation ,
Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Department of Justice (DOJ) ,
Department of Veterans Affairs ,
Economic Growth Regulatory Relief and Consumer Protection Act ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
False Claims Act (FCA) ,
FinTech ,
GAO ,
HMDA ,
Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
OCC ,
Popular ,
RESPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA) ,
Unduly Burdensome
During his tenure, former CFPB Acting Director Mick Mulvaney brought significant changes to the Bureau’s structure and operations. As the new CFPB Director, Kathy Kraninger will have the benefit of a full five-year term to...more
3/5/2019
/ Administrative Priority ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Director Kraninger ,
Director Mulvaney ,
Enforcement Actions ,
Fair Lending ,
FDCPA ,
Financial Services Committee ,
Payday Lending Rule ,
PHH Corp. v CFPB ,
Political Parties ,
Student Loans ,
Trump Administration ,
UDAAP