As part of ongoing efforts from the Trump administration to streamline regulatory efforts, the Consumer Financial Protection Bureau (CFPB) is proposing changes to Larger Market Participant thresholds, many of which currently...more
8/11/2025
/ Automotive Industry ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Non-Bank Lenders ,
Payment Systems ,
Popular ,
Proposed Rules ,
Regulatory Oversight ,
Regulatory Reform ,
Supervision
Over the weekend the Senate by voice vote passed H.R. 2808, the House version of the Homebuyers Privacy Protection Act, sending the bill to President Trump for signature. The bill is led by Reps. John Rose (R-TN) and Ritchie...more
In two cases challenging regulatory actions by the Biden-era Consumer Financial Protection Bureau (CFPB), Brownstein secured major wins for the collections industry. First, in litigation filed in Texas, Brownstein represented...more
The Consumer Financial Protection Bureau (CFPB) is continuing its broad regulatory rollback as it actively solicits public comment on several proposed rescissions, including its nonbank registry rule and state official...more
Over the past several weeks, litigation and government relations efforts have resulted in the accounts receivables management (“ARM”) industry achieving regulatory clarity, which will allow the industry to better serve...more
After weeks of former CFPB Director Rohit Chopra emptying the shelves with dozens of new regulations, proposals and enforcement activity, the financial services industry now faces whiplash as the Trump administration takes...more
After weeks of emptying the shelves at the Consumer Financial Protection Bureau (CFPB) with dozens of enforcement actions, new rules, proposed regulations and guidance, President Donald Trump fired CFPB Director Rohit Chopra...more
On Dec. 3, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would treat data brokers as credit reporting agencies, subjecting them to requirements under the Fair Credit Reporting Act (FCRA)....more
Republicans will soon find themselves in in control of the entire federal government—the White House, the Senate and the House of Representatives—for the first time since 2018. This new power dynamic in Washington has already...more
As we continue to analyze the strength of former President Trump’s red wave, one thing is clear: a number of federal agencies are poised for a major shift in their rulemaking agendas, priorities, staffing and approach to...more
On Oct. 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule on Personal Financial Data Rights, which changes the way financial institutions hold and distribute customer-generated data. The rule, once...more
On Sept. 17, the Consumer Financial Protection Bureau (CFPB) published guidance for federal and state consumer protection enforcement officials to use to prevent banks and credit unions from charging overdraft fees in certain...more
On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would introduce sweeping changes to the process of medical debt credit reporting and the use of information related to the nonpayment of...more
On June 3, the Consumer Financial Protection Bureau (CFPB) published a final rule to create a registry of nonbank companies that have entered into consent agreements or who have otherwise been found by the bureau to be in...more
On May 30, the Consumer Financial Protection Bureau (CFPB) released a Request for Information (RFI) regarding mortgage closing costs. The seven-page RFI provided nine questions about the impact of closing costs, and how they...more
In a landmark decision issued on May 16, the Supreme Court held that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is constitutionally sound, as it does not violate the Appropriations Clause. The...more
For the first time in its history, the Consumer Financial Protection Bureau recently invoked supervisory authority over a nonbank lender, World Acceptance Corp., one of the largest small-dollar installment lenders in the...more
On Sept. 21, 2023, the Consumer Financial Protection Bureau (CFPB) officially announced it is considering a rulemaking to address several consumer reporting topics under the Fair Credit Reporting Act (FCRA). Under the process...more
11/10/2023
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Bureaus ,
Credit Reporting Agencies ,
Credit Reports ,
Data Privacy ,
Data Security ,
Debt Collection ,
Debt Collectors ,
Financial Institutions ,
Financial Services Industry
Organizations in many instances no longer must spend money on compliance with the Consumer Financial Protection Bureau’s (CFPB) interpretation of its UDAAP authority announced in the March 2022 update to its Supervision and...more
On July 14, 2023, the U.S. Supreme Court announced it would hear oral arguments in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) on October 3, 2023. The court will...more
On Monday, the U.S. Supreme Court announced that it has agreed to review the Fifth Circuit’s decision in Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA). The decision...more
On Feb. 1, 2023, the Biden administration released a fact sheet describing actions taken by the White House that continue a focus on so called “junk fees.” The announcement, which was done along with several independent...more
On Jan. 11, 2023, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would require nonbanks under its supervisory authority, subject to limited exceptions, to annually register information about...more
Seeking to “enhance market monitoring and risk-based supervision efforts,” the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has proposed a new, online registry of nonbank financial firms in order to track, what...more
As the financial services industry continues to digest what is known so far about election results, a new twist for 2023 emerged this week when the Consumer Financial Protection Bureau (CFPB) put the question of the...more