News & Analysis as of

Comment Period Consumer Financial Protection Bureau (CFPB) Public Comment

Troutman Pepper Locke

CFPB Proposes Rules Re-Defining Larger Participants in Multiple Markets

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On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the...more

Orrick, Herrington & Sutcliffe LLP

CFPB issues new proposal to ban certain financial contract terms

On January 13, the CFPB proposed a new rule to ban large banks and consumer finance companies from using certain contractual provisions in agreements with consumers under Regulation AA. The CFPB’s proposal warns against the...more

Troutman Pepper Locke

CFPB Introduces New Rule Banning Certain Contractual Provisions in Consumer Financial Agreements

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The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements for consumer financial products or services. The CFPB’s proposal targets certain...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks comment on ANPR to amend Regulation V

On December 9, the CFPB issued an advance notice of proposed rulemaking (ANPR) to request public comment on potential amendments to Regulation V, which implements the FCRA. As described by the CFPB, the ANPR would address...more

Troutman Pepper Locke

CFPB Initiates FCRA Rulemaking to Address Coerced Debt

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On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more

Orrick, Herrington & Sutcliffe LLP

CFPB amends Regulation E to update remittance transfer rule requirements

On September 20, the CFPB released its proposed rule to amend the remittance transfer disclosure requirements under the EFTA. The proposed amendments will adjust certain disclosures to clarify that consumers sending...more

Troutman Pepper Locke

CFPB Probing Alleged “Junk Fees” in Mortgage Closing Costs

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On May 30, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a request for information (Request) regarding alleged “junk fees” in closing costs charged by mortgage lenders and related settlement service...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2024

OCC Requests Public Comments on Proposed Bank Merger Policy Statement and Rules The OCC has proposed a new policy to increase the transparency of the standards that the agency applies to review business combinations involving...more

Venable LLP

FTC Releases Proposed Rule Targeting “Junk” Fees

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This week, the Federal Trade Commission (FTC) released a Proposed Rule, “Rule on Unfair or Deceptive Fees.” The Proposed Rule comes after the FTC solicited comments through its Advance Notice of Proposed Rulemaking in...more

Ballard Spahr LLP

FTC requests comment on consumer advocate petition regarding auto “yo-yo financing”

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On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more

Cadwalader, Wickersham & Taft LLP

CFPB Seeks Comments Regarding the Collection and Sale of Consumer Information by Data Brokers

Earlier this month, the CFPB issued a press release and a Request for Information (“RFI”) that is focused upon whether the CFPB should promulgate additional rules implementing the Fair Credit Reporting Act....more

Troutman Pepper Locke

Public Comments on the CFPB’s Proposed Section 1033 Data Access Rule

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As discussed here, on October 27, 2022, the CFPB released an Outline of Proposals and Alternatives Under Consideration for public comments on the CFPB’s Section 1033 rulemaking. The window for providing written feedback...more

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CFPB Moves Forward With Proposed Rule Establishing Public Registry of Terms and Conditions in Form Contracts

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As forecasted in its 2022 Fall Rulemaking Agenda discussed here, today the Consumer Financial Protection Bureau (CFPB) published a proposed rule with request for public comments that would require certain nonbank covered...more

Brownstein Hyatt Farber Schreck

CFPB Invites Comments on Proposed Registry of Nonbank Financial Firms

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

Cooley LLP

CFPB Proposes Public Enforcement Order Registry for Nonbank Financial Services Providers

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On December 12, 2022, the Consumer Financial Protection Bureau published a proposed rule that would require nonbank covered persons to report certain public agency enforcement actions and court orders for publication in a...more

Goodwin

Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial...

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Regulatory Developments - Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial Risks - On December 2, the Federal Reserve announced that it...more

Troutman Pepper Locke

CFPB Seeks Public Comment on Collecting Data on Auto Lending Market

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On November 17, the Consumer Financial Protection Bureau (CFPB) announced it is seeking public comment on its proposal to develop a new data set to better monitor the auto loan market. According to the CFPB, greater...more

Ballard Spahr LLP

CFPB to reopen comment period on request for comments to inform inquiry into large technology companies that offer payment...

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The CFPB has announced that it will be reopening the comment period on its November 2021 request for public comments to inform its inquiry into large technology companies that offer payment services. In October 2021, the...more

Sheppard Mullin Richter & Hampton LLP

California Regulator Proposes Changes to Student Loan Servicing Laws

On August 30, the Commissioner of the California DFPI issued a notice of rulemaking proposing new regulations and amendments to current regulations implementing the state’s student loan servicing laws...more

Ballard Spahr LLP

CFPB issues request for information on relationship banking and customer service

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The CFPB has issued a request for information (RFI) that seeks comments from the public “on what customer service obstacles consumers face in the banking market, and specifically what information would be helpful for...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Goodwin

Stress Test Scenarios Released for 2022

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In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more

Adams & Reese

CFPB Solicits Feedback on “Junk Fees” – Are New Regulations Coming?

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On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) issued a request for public comment relating to “junk fees” consumers may be subjected to when engaging in financial services. So what exactly is a...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Troutman Pepper Locke

CFPB Requests Comment on Buy Now, Pay Later Inquiry

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Last month, the Consumer Financial Protection Bureau (CFPB) issued orders to five companies offering buy now, pay later (BNPL) products, asking them to provide information on several topics, including...more

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