Earlier this month, the CFPB issued four separate advance notices of proposed rulemaking with respect to rules that give the CFPB authority over nonbank companies in the auto finance, international money transfer, debt...more
8/25/2025
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Automotive Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Debt Collection ,
Larger Participant ,
Money Transfer ,
Non-Depository Institutions ,
Nonbank Firms ,
Proposed Rules ,
Regulatory Reform ,
Remittance Transfer Rule
Over the past month, the Consumer Financial Protection Bureau (CFPB) took a slew of actions with the apparent aim to decrease the CFPB’s regulatory authority.
On May 14, 2025, the CFPB proposed rescinding the “NBR Rule”...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
Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
We expect continued focus by the CFPB on “junk”...more
2/15/2024
/ Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Debit Cards ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Excessive Fees ,
Fees ,
Financial Services Industry ,
Popular ,
Prepaid Payment Products ,
Regulation Z ,
Rulemaking Process
On December 20, 2023, the CFPB announced that, along with the DOJ, it had filed suit against a Texas-based developer and lender for operating an allegedly illegal land sales scheme that targeted Hispanic borrowers....more
On December 19, 2023, the CFPB announced it had entered into a consent order with a national bank regarding its handling of consumers’ unemployment benefits accounts....more
On November 8, 2023, the CFPB and a national bank entered into a consent order to resolve allegations that the bank engaged in intentional discrimination against Armenian Americans who had applied for credit cards...more
2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more
2/22/2023
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Credit Reports ,
Debt Collection ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Payday Loans ,
Prepaid Payment Products ,
Privacy Laws ,
Student Loans