Welcome to the “Overview: 2024 Lessons and 2025 Emerging Trends” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
As Goodwin predicted in our previous year in review, the enforcement and...more
3/17/2025
/ Artificial Intelligence ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Reports ,
Debt Collection ,
Enforcement Priorities ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Regulatory Reform ,
FinTech ,
Mortgage Servicing Rules ,
Peer-to-Peer ,
Popular ,
Regulatory Agenda ,
State Attorneys General ,
Trump Administration
Welcome to the “Student Lending” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
Regulators will likely continue to focus on junk fees and purported deceptive or nontransparent practices...more
3/17/2025
/ Consent Order ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Fraud ,
Consumer Protection Laws ,
Debt Collection ,
Debt Relief ,
Enforcement Actions ,
Federal Student Loans ,
Federal Trade Commission (FTC) ,
Loan Forgiveness ,
Loan Servicing ,
Student Loans ,
Unfair or Deceptive Trade Practices
Welcome to the “Data Privacy and Cybersecurity” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
Consumer financial services regulators are taking a keen interest in artificial intelligence...more
3/17/2025
/ Artificial Intelligence ,
Class Action ,
Consumer Financial Protection Bureau (CFPB) ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
NYDFS ,
Regulatory Requirements ,
State Privacy Laws
Welcome to the “Payday and Small-Dollar Lending” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
We expect the level of enforcement and regulatory activity in the payday and short-term...more
We expect continued scrutiny by regulators on fees, including enforcement actions and rulemakings, with the caveat that the new administration could shift federal priorities away from this fee crackdown....more
3/14/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Final Rules ,
Financial Institutions ,
Healthcare ,
New Guidance ,
Overdraft Fees ,
Popular ,
Regulation Z
With the change in administration, enforcement actions at the federal level are expected to decrease, reflecting President Trump’s focus on deregulation. Indeed, during President Trump’s first term, the number of enforcement...more
3/14/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Enforcement Actions ,
Enforcement Statistics ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Federal Trade Commission (FTC) ,
Mortgage Servicers ,
Mortgages ,
Predatory Lending ,
Redlining ,
Reverse Mortgages ,
Trump Administration
Although Consumer Financial Protection Bureau (CFPB) priorities and mandates are undergoing shifts with the new Trump administration, the CFPB pledged in 2024 to continue its efforts to eliminate allegedly illegal debt...more
Welcome to the Market Overview chapter of our annual report Consumer Financial Services 2023 Year in Review.
For the consumer finance industry, 2023 was all about the Consumer Financial Protection Bureau (CFPB or Bureau)....more
Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
Amendments to key rules and regulations will take effect in 2024,...more
2/16/2024
/ Amended Regulation ,
Biden Administration ,
California Consumer Privacy Act (CCPA) ,
Class Action ,
Cybersecurity ,
Data Privacy ,
Enforcement Actions ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
NYDFS ,
Popular ,
Proposed Regulation ,
Safeguards Rule ,
Securities and Exchange Commission (SEC) ,
State Privacy Laws
Welcome to the Student Lending chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB will likely continue to focus on junk fees, nontransparent and other...more
On December 6, 2016, the Federal Reserve Board announced that it entered into a consent order with a Pennsylvania bank ordering it to cease and desist deceptive student lending practices, and assessing millions of dollars in...more
Editor's Note -
Change at the Fed. As expected, on November 2, President Trump nominated Jerome H. Powell to be Chairman of the Board of Governors of the Federal Reserve System (FRB) for a term of four years beginning...more
11/9/2017
/ Bank Secrecy Act ,
Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collectors ,
Due Diligence ,
Equity Investors ,
FDIC ,
Federal Trade Commission (FTC) ,
FinCEN ,
OCC ,
Subsidiaries
On November 1, the Federal Trade Commission (FTC) and Illinois Attorney General’s Office (Illinois AG) announced that they had reached a settlement to resolve a joint action brought against affiliated Chicago-based debt...more
On September 29, the Federal Trade Commission (FTC) announced that it had filed a complaint in the U.S. District Court for the Central District of California against nine auto dealers for purportedly engaging in deceptive and...more