On July 14, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a status report announcing its decision not to reissue its Medical Debt Collection Advisory Opinion, which had been issued in 2024 to “remind debt...more
7/18/2025
/ Advisory Opinions ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Debt Collection ,
Enforcement ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Services Industry ,
Healthcare ,
Medical Debt ,
Regulatory Oversight ,
Regulatory Requirements
The Consumer Financial Protection Bureau (CFPB or Bureau) announced the withdrawal of 67 regulatory guidance documents, including interpretive rules, policy statements, and advisory opinions that have been issued since the...more
5/12/2025
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
ECOA ,
EFTA ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Guidance Documents ,
Military Lending Act ,
Policy Statement ,
Popular ,
Regulatory Reform ,
Regulatory Requirements ,
Rulemaking Process ,
Statutory Interpretation ,
Trump Administration ,
Truth in Lending Act (TILA)
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/17/2025
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Enforcement Actions ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Regulatory Agenda ,
Regulatory Requirements ,
TCPA ,
UDAAP ,
Uniform Commercial Code (UCC)
The U.S. District Court for the District of Massachusetts recently denied a credit repair organization’s motion for partial summary judgment and granted the Consumer Financial Protection Bureau (CFPB or Bureau) and the...more
10/14/2024
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Enforcement Actions ,
Financial Services Industry ,
Penalties ,
Restitution ,
Statutory Violations ,
Summary Judgment ,
Telemarketing Sales Rule ,
Unfair or Deceptive Trade Practices
On March 14, Virginia Governor Glenn Youngkin vetoed House Bill (HB) 418 that would have created a vehicle for class actions in Virginia state courts and would have broadened statutory damages under the Virginia Consumer...more
Consumer reporting dominates complaints to the Consumer Financial Protection Bureau (CFPB), according to a new report....more
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
2/1/2024
/ Automotive Loans ,
Banks ,
Class Action ,
Consumer Bankruptcy ,
Consumer Financial Products ,
Debt Collection ,
Digital Assets ,
Fair Lending ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Student Loans ,
Tribal Loans ,
Uniform Commercial Code (UCC)
On October 12, the U.S. District Court for the Northern District of Illinois denied certification of a putative class action asserting that TransUnion violated the Fair Credit Reporting Act (FCRA) and the Missouri...more
On July 24, the California Office of Administrative Law approved the Civil Rights Council’s (the Council) proposed amendment to California’s Employment Regulations Relating to Criminal History, which are set to become...more
7/31/2023
/ Background Checks ,
Background Screening Services ,
California ,
Conditional Job Offers ,
Criminal Background Checks ,
Employees ,
Employer Liability Issues ,
Financial Services Industry ,
Hiring & Firing ,
Job Applicants ,
Labor Reform ,
State Labor Laws
In Frazier v. Dovenmuehle Mortgage, Inc., the Seventh Circuit recently issued an opinion affirming summary judgement in favor of the defendant data furnisher in a suit brought by a consumer under § 1681s-2(b) of the Fair...more
According to a recent report by WebRecon, the month of April saw a significant reduction from the previous month in filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and the...more
According to a recent year-in-review report by WebRecon, Fair Credit Reporting Act (FCRA) filings continued their slow-but-steady increased pace throughout 2022. On the other hand, filings under the Fair Debt Collection...more
On April 7, the Consumer Finance Protection Bureau (CFPB or Bureau) filed an amicus brief in an appeal, pending before the Court of Appeals for the Eleventh Circuit in which the Bureau argued that the Fair Credit Reporting...more
In late January, the Consumer Financial Protection Bureau (CFPB) released its 2022 “List of Consumer Reporting Companies.” This list purports to give consumers “the details [they] need to take action” against companies that...more
On November 4, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion, stating that a consumer reporting agency (CRA) that engages in name-only matching violates the Fair Credit Reporting Act’s (FCRA)...more