On May 9, 2024, we published our first article in a series of articles on the CFPB's interest in gaming. Back on April 4, 2024, the Consumer Financial Protection Bureau ("CFPB") issued a report identifying various risks to...more
The line between virtual and reality is getting thinner. Gamers pay gaming companies real currency for virtual in-game currency to buy skins, create the world they want to live in (virtually), or purchase loot that aid in...more
5/9/2024
/ Banking Sector ,
Banks ,
Civil Investigation Demand ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
COPPA ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
FTC Act ,
Gaming ,
Information Reports ,
Money Transmitter ,
Online Gaming ,
Payment Processors ,
Regulatory Authority ,
Risk Assessment ,
State Attorneys General ,
Virtual Currency
In this month's article, we share some of our top "bites" covered during the April 2024 webinar....more
5/2/2024
/ Administrative Procedure ,
Amicus Briefs ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Person ,
Credit Reporting Agencies ,
Data Protection ,
Department of Justice (DOJ) ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Military Service Members ,
Mortgages ,
Prepaid Payment Products ,
Sensitive Personal Information ,
Video Games
In this month's article, we share some of our top "bites" covered during the March 2024 webinar.
Bite 10: CFPB Issues Statement on Privacy and Personal Data -
On February 28, 2024, the CFPB issued a statement on...more
4/1/2024
/ Appraisal ,
Banking Regulators ,
Banking Sector ,
Banks ,
Closing Costs ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Dodd-Frank ,
Federal Trade Commission (FTC) ,
Fees ,
FFIEC ,
Financial Services Industry ,
Mortgages ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Personal Data ,
Sensitive Personal Information ,
UDAAP
In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more
3/1/2024
/ Appraisal ,
Bias ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debt Relief ,
Debt-Relief Industry ,
Enforcement Actions ,
Enforcement Statistics ,
Federal Trade Commission (FTC) ,
Fees ,
FFIEC ,
Financial Services Industry ,
FinTech ,
FOIA ,
Future Wages ,
Unpaid Wages
In this article, we share a timeline of our monthly "bites" for 2023 applicable to debt collection. If debt collection in 2023 had a theme it would be medical debt....more
2/1/2024
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Debt Collectors ,
Enforcement ,
Enforcement Actions ,
FDCPA ,
Financial Services Industry ,
Loan Servicing ,
Medical Debt ,
Mortgages ,
Payday Loans ,
Rulemaking Process ,
Student Loans ,
UDAAP
In this article, we share a timeline of our monthly "bites" for 2023 applicable to payments, along with some additional related information....more
1/31/2024
/ Amicus Briefs ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Wallets ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Military Service Members ,
Mobile Payments ,
Money Transfer ,
OCC ,
Payment Systems ,
Prepaid Payment Products ,
Proposed Rules ,
Unemployment Benefits
In this article, we share a list of the top 10 biggest fines and penalties from our monthly bites for 2023....more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to the small dollar lending, lease-to-own, and alternative financial services industries. ...more
1/29/2024
/ Automatic Renewals ,
Buy Now Pay Later (BNPL) ,
Civil Monetary Penalty ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
Fees ,
Financial Services Industry ,
Settlement ,
Standard Form Contracts ,
Terms and Conditions ,
Wage Advances ,
Wages
In this article, we share a timeline of our monthly "bites" for 2023 applicable to student lending along with some information related to financial products and services offered to students....more
1/26/2024
/ Annual Reports ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Relief ,
Debt-Relief Industry ,
Enforcement Actions ,
Federal Student Loans ,
Fees ,
Payment Plans ,
Settlement ,
Standard Form Contracts ,
Student Loans ,
Terms and Conditions ,
Tuition
In this article, we share a timeline of our monthly "bites" for 2023 applicable to mortgage along with some additional related information. ...more
1/24/2024
/ Appraisal ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Discriminatory Lending Practices ,
ECOA ,
Enforcement Actions ,
Fees ,
Financial Services Industry ,
Kickbacks ,
Libor ,
Military Service Members ,
Mortgage Lenders ,
Mortgages ,
Redlining
In this article, we share a timeline of our monthly "bites" for 2023 applicable to consumers protected by nondiscrimination and military protection laws....more
1/23/2024
/ Appraisal ,
Artificial Intelligence ,
Banking Sector ,
Banks ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
DACA ,
Department of Justice (DOJ) ,
ECOA ,
Equal Employment Opportunity Commission (EEOC) ,
Ethics ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Identity Theft ,
Immigrants ,
Military Service Members
In this article, we share a timeline of our monthly "bites" for 2023 applicable to the auto finance industry. We think it's safe to say that the auto finance industry was top of mind to the CFPB. ...more
1/22/2024
/ Automotive Loans ,
Broker-Dealer ,
CARS Rule ,
Consumer Contracts ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
DACA ,
ECOA ,
Excessive Fees ,
Fair Access to Credit ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Services Industry ,
Immigrants ,
Loan Servicer ,
Pilot Programs ,
UDAAP
In this month's article, we share some of our top "bites" for the prior and current month covered during the January 2024 webinar....more
1/19/2024
/ Colleges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Reporting Agencies ,
Credit Reports ,
Debt Collection ,
Enforcement Actions ,
Excessive Fees ,
FDIC ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
HMDA ,
Loan Servicing ,
Logos ,
Mortgage Lenders ,
Mortgages ,
Nonbank Firms ,
Overdraft Fees ,
Proposed Rules ,
Relief Measures ,
Student Loans ,
Veterans
In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more
1/17/2024
/ Abusiveness Standard ,
Bots ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Wallets ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
New Guidance ,
Non-Bank Lenders ,
Regulatory Oversight ,
Standard Form Contracts ,
Stock Options ,
Wage Advances ,
Wages
In this month's article, we share some of our top "bites" for the prior month covered during the December 2023 webinar....more
1/10/2024
/ Automotive Loans ,
Banks ,
Car Dealerships ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Debt Collection ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
FDCPA ,
Information Reports ,
Lenders ,
Misrepresentation ,
Motor Vehicles ,
OCC ,
Regulation Z ,
Truth in Lending Act (TILA) ,
Wages
In this month's article, we share some of our top "bites" for the prior month covered during the November 2023 webinar....more
In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar.
Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...more
10/23/2023
/ Anti-Discrimination Policies ,
Banking Sector ,
Banks ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Unions ,
DACA ,
Department of Justice (DOJ) ,
ECOA ,
Enforcement Actions ,
Fees ,
Immigrants ,
Medical Bills ,
New Guidance ,
Overdraft Fees ,
Popular ,
Rulemaking Process ,
Supervisory Highlights ,
Surprise Medical Bills
In this month's article, we share some of our top "bites" for the prior month covered during the September 2023 webinar.
Bite 1: Update on Federal Student Loan Borrowers -
On September 5, 2023, the CFPB reminded...more
9/25/2023
/ Artificial Intelligence ,
Banking Crisis ,
Big Tech ,
Churning ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Creditors ,
Enforcement Actions ,
FDIC ,
Financial Services Industry ,
FinTech ,
Kickbacks ,
Leases ,
Mobile Apps ,
Mobile Payments ,
Payment Systems ,
Proposed Rules ,
Regulatory Agenda ,
Student Loans ,
Tuition
In this month's article, we share some of our top "bites" for the prior month covered during the August 2023 webinar.
Bite 1: CFPB Publishes Report on Employer-Driven Debt -
On July 20, 2023, the CFPB published a...more
8/18/2023
/ Automotive Loans ,
Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
Fair Credit Reporting Act (FCRA) ,
Housing Market ,
Landlords ,
Loan Servicer ,
Payday Loans ,
Rent-to-Own Companies ,
Rental Property ,
Residential Leases ,
Small Business ,
Small Business Loans ,
Tenants ,
UDAAP ,
Unfair or Deceptive Trade Practices
In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar.
Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs -
On July 7,...more
7/24/2023
/ Amicus Briefs ,
Annual Reports ,
Banks ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Enforcement Actions ,
Excessive Fees ,
Fair Lending ,
False Advertising ,
Federal Reserve ,
Financial Services Industry ,
For Profit Education ,
Loans ,
Medical Bills ,
Medical Debt ,
Mortgage Lenders ,
Mortgages ,
OCC ,
Overdraft Fees ,
Predatory Lending ,
Race Discrimination ,
Student Loans ,
Telemarketing Sales Rule ,
Truth in Lending Act (TILA) ,
Unauthorized Transactions
In this month's article, we share some of our top "bites" for the prior month covered during the June 2023 webinar.
Bite 12: CFPB Focusing on Overdraft Issues -
On May 18, 2023, the CFPB announced that it had issued a...more
6/26/2023
/ Automation Systems ,
Banking Sector ,
Bots ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Data Brokers ,
Discovery ,
FDIC ,
Financial Institutions ,
Mobile Apps ,
Mortgage Servicers ,
Mortgages ,
Open Banking ,
Overdraft Fees ,
Property Valuation ,
Residential Real Estate Market ,
Sanctions ,
Valuation
In this month's article, we share some of our top "bites" for the prior month covered during the May 2023 webinar....more
5/22/2023
/ Bank Accounts ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Debt-Relief Industry ,
Enforcement Actions ,
Financial Services Industry ,
Libor ,
Mortgage Servicers ,
New Guidance ,
Property Tax ,
Proposed Rules ,
Regulation Z ,
Restitution ,
Truth in Lending Act (TILA)
In this month's article, we share some of our top "bites" for the prior month covered during the April 2023 webinar....more
4/24/2023
/ Abusive Acts ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Reporting Agencies ,
Data Brokers ,
Debt Collection ,
Debt-Relief Industry ,
Enforcement Actions ,
Financial Services Industry ,
For Profit Education ,
Mortgage Loan Originators ,
Mortgages ,
Settlement ,
Small Business Loans ,
Student Loans ,
Telemarketing Sales Rule
In this month's article, we share some of our top "bites" for the prior month covered during the March 2023 webinar....more
3/27/2023
/ Administrative Procedure ,
Appraisal ,
Automotive Loans ,
Background Checks ,
Buy Now Pay Later (BNPL) ,
Civil Monetary Penalty ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Military Service Members ,
Mortgage Lenders ,
Mortgages ,
Race Discrimination