News & Analysis as of

Consumer Financial Products › Creditors › Regulation B

Ballard Spahr LLP

Regulatory Requirements Related to Adverse Action Notifications

Ballard Spahr LLP on

As part of the Federal Reserve Board’s Outlook Live Webinar series, on July 17, 2025, examiners from the Minneapolis and Chicago Federal Reserve Banks hosted a webinar to discuss the regulatory requirements related to adverse...more

Ballard Spahr LLP

NCLC Asks CFPB to Consider Residential Leases as Credit for Specific Purposes

Ballard Spahr LLP on

The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more

Ballard Spahr LLP

7th Circuit Holds ECOA Protections Apply to Prospective Applicants

Ballard Spahr LLP on

In a major win for the CFPB, in CFPB v. Townstone Financial, a panel of the U.S. Court of Appeals for the Seventh Circuit (7th Circuit) recently held that the Regulation B provision prohibiting discrimination under the Equal...more

Saul Ewing LLP

CFPB Issues Guidance on Use of AI in Credit Decisioning

Saul Ewing LLP on

In September, the Consumer Financial Protection Bureau issued guidance on compliance with the Equal Credit Opportunity Act’s adverse action notice requirements for lenders utilizing artificial intelligence in their credit...more

Ballard Spahr LLP

CFPB Revisits Adverse Action Notice Requirements When Using Artificial Intelligence or Complex Credit Models

Ballard Spahr LLP on

In May 2022, the CFPB issued Circular 2022-3 addressing Equal Credit Opportunity Act (ECOA) adverse action notice requirements in connection with credit decisions based on algorithms. The CFPB is now revisiting the issue in...more

Troutman Pepper Locke

CFPB Calls for Increased Specificity and Accuracy on Reasons for Credit Denials When Lenders Employ Artificial Intelligence

Troutman Pepper Locke on

When using artificial intelligence (AI) or complex credit models, can lenders rely on the checklist of reasons provided in Regulation B sample forms for adverse action notices? According to today’s guidance issued by the...more

Goodwin

CFPB Deems Merchant Cash Advances to Be “Credit” Under ECOA

Goodwin on

The Consumer Financial Protection Bureau’s adopting release for its small business data collection and reporting rule goes beyond that rule by including a discussion deeming merchant cash advances to be “credit” more...more

Sheppard Mullin Richter & Hampton LLP

District Court Dismisses CFPB Redlining Action Against Nonbank, Limits ECOA’s Reach

Sheppard Mullin Richter & Hampton LLP on

On February 3, the U.S. District Court for the Northern District of Illinois issued an opinion and order dismissing with prejudice the CFPB’s complaint for violations of the ECOA against a mortgage lender and its owner...more

Hudson Cook, LLP

CFPB Bites of the Month - September Top 10

Hudson Cook, LLP on

So what happened at the CFPB in the past month? Bite #10 - Trade groups submitted a letter to the House Subcommittee supporting HR 4773 - Nearly 30 trade groups, led by the Consumer Bankers Association (CBA), submitted...more

Ballard Spahr LLP

CFPB extends comment period for RFI on expanding credit access and further protecting consumers from credit

Ballard Spahr LLP on

The CFPB has extended by 60 days the comment period for its Request for Information (RFI) on how best to create a regulatory environment that expands access to credit and ensures that all consumers and communities are...more

10 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide