News & Analysis as of

Consumer Financial Products › Dodd-Frank Wall Street Reform and Consumer Protection Act › Enforcement Authority

Holland & Knight LLP

CFPB Continues Efforts to Rescind Multiple Biden-Era Rules

Holland & Knight LLP on

The CFPB has withdrawn its 1) Fair Credit Reporting Act (FCRA)/Regulation V Proposed Rule (Data Broker Rule), 2) Prohibited Terms and Conditions in Agreements for Consumer Financial Products or Services (Regulation AA)...more

Mayer Brown

Third Circuit Holds Securitization Trusts Can Be Subject to CFPB Enforcement Authority

Mayer Brown on

In a long-awaited decision, the Third Circuit handed the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) a victory in the National Collegiate Student Loan Trust litigation that could have wide-reaching implications...more

Eversheds Sutherland (US) LLP

Focus on Fintech: The CFPB wants state and federal financial regulators to get behind its enforcement agenda

Eversheds Sutherland (US) LLP on

The CFPB is the primary regulator of consumer financial products and services in the US, but other state and federal regulators also have authority to enforce some federal consumer financial protection laws. The CFPB is now...more

Morrison & Foerster LLP

CFPB California Style: The California Consumer Financial Protection Law Brings More Providers Of Consumer Financial Products And...

Morrison & Foerster LLP on

On August 31, 2020, the California legislature passed the California Consumer Financial Protection Law (CCFPL). The law reflects Governor Newsom’s vision of a much more powerful banking agency with new registration authority,...more

BCLP

Consumer Financial Services and Fintech Enforcement Trends in California

BCLP on

Following the departure of former CFPB Director Richard Cordray in 2017, consumer advocates and state attorneys general raised concerns regarding the new hands-off approach by the Trump administration pertaining to consumer...more

Bradley Arant Boult Cummings LLP

Does the New Debt Collection Rule Apply to First-Party Creditors?

Bradley Arant Boult Cummings LLP on

Last November, Bradley’s Financial Services Perspectives team predicted that the Consumer Financial Protection Bureau’s (CFPB) then upcoming Notice of Proposed Rulemaking (NPRM) for the Does the New Debt Collection Rule Apply...more

Ballard Spahr LLP

FTC provides 2018 enforcement report to CFPB

Ballard Spahr LLP on

The Federal Trade Commission recently provided its annual letter to the CFPB concerning its enforcement activities relating to compliance with Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and...more

Shumaker, Loop & Kendrick, LLP

Client Alert: CFPB’s Structure is Unconstitutional, D.C. Circuit Court Holds

Shumaker, Loop & Kendrick, LLP on

Lenders and their attorneys have been closely monitoring the enforcement actions and rules promulgated by the Consumer Financial Protection Bureau or CFPB, which was created under the Dodd-Frank Act. The CFPB’s three goals...more

Dorsey & Whitney LLP

“Abusive” Development – Recent Applications of the Prohibition against Abusive Acts and Practices

Dorsey & Whitney LLP on

The enactment of the Dodd-Frank Act in 2010 created the Consumer Financial Protection Bureau (“CFPB”) and, among other things, vested it with broad authority to enforce prohibitions on unfair, deceptive and abusive acts and...more

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