On June 2, 2016, the Consumer Financial Protection Bureau released its long-anticipated notice of proposed rulemaking on short-term consumer lending. The proposed rule follows the CFPB’s March 2015 release of an outline of...more
6/15/2016
/ Ability-to-Repay ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
Installment Agreements ,
Military Lending Act ,
Payday Loans ,
Proposed Regulation ,
Short-Term Loans ,
Truth in Lending Act (TILA) ,
UDAAP
On Wednesday, April 20, 2016, the Consumer Financial Protection Bureau (“CFPB,” or “Bureau”) released a report, entitled “Online Payday Loan Payments” (“Report”), which examines short-term, small-dollar loans—or payday...more
In an April 8, 2016 letter to Richard Cordray, Director of the Consumer Financial Protection Bureau (“CFPB,” or “Bureau”), Representatives Randy Neugebauer (R-TX) and Mick Mulvaney (R-SC) requested that the Bureau convene a...more
Why another law firm newsletter? Over ten years ago, Will Stern answered that question in the first Editor’s Note of the first Financial Services Report. Some things have changed since then—we no longer print and mail paper...more
3/9/2016
/ Arbitration ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Customer Lists ,
Cybersecurity ,
Debt Collection ,
Department of Justice (DOJ) ,
EU-US Privacy Shield ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
HMDA ,
Mortgages ,
OCC ,
Payday Loans ,
Preemption ,
Securities and Exchange Commission (SEC) ,
TCPA ,
Truth in Lending Act (TILA)
On February 23, 2016, Consumer Financial Protection Bureau (“CFPB”) Director Richard Cordray signaled that the Bureau’s anticipated rulemaking on short-term lending is likely to closely resemble its March 2015 “Outline of...more