News & Analysis as of

Consumer Financial Products Enforcement

Ballard Spahr LLP

Community Groups File Lawsuit Seeking to Force CFPB to Implement the Section 1071 Rule

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The saga of the CFPB’s section 1071 small business data collection and reporting rule continues. Rise Economy, fka California Reinvestment Coalition (Rise), the National Reinvestment Coalition (NCRC), the Main Street Alliance...more

Troutman Pepper Locke

CFPB Will Not Reissue Medical Debt Advisory Opinion

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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

Shipkevich PLLC

New York Legislature Passes Landmark FAIR Business Practices Act: Implications for Consumer Finance Lending and Debt Settlement...

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On June 18, 2025, the New York Legislature passed the Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act (the “FAIR Act”). This significant legislation marks the most substantial update to...more

Troutman Pepper Locke

April 2025 Consumer Litigation Filings: Everything Down

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According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA), and complaints filed with the...more

Mayer Brown

Maryland Update on Licensing Guidance

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AT A GLANCE - In response to market concerns regarding licensing guidance for assignees of certain residential mortgage loans and installment loans released by the Maryland Office of Financial Regulation in January, that...more

Holland & Knight LLP

Illinois Dental Practices Face New Third-Party Financing Guardrails in 2025

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In August, Illinois Gov. J.B. Pritzker signed into law HB 4891 that amends the Illinois Dental Practice Act to include significant guardrails for dental practices looking to offer third-party financing in dental offices in...more

Hinshaw & Culbertson - Consumer Crossroads

What Does the CFPB’s New Public Registry to Detect Repeat Offenders Mean for Your Business?

On June 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued the Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (“the Final Rule”)....more

Sheppard Mullin Richter & Hampton LLP

FTC Calls Out Bill Payment Company’s Use of Dark Pattern Practices

On April 25, the FTC took action against a Washington-based bill payment company and its two co-founders alleging that the company used misleading search ads to impersonate consumers’ billers and deceptive design practices to...more

Sheppard Mullin Richter & Hampton LLP

CFPB Fines and Bans Coding Bootcamp over Deceptive Student Lending Practices

On April 17, the CFPB issued a consent order against a San Francisco-based for-profit coding school and its and CEO, banning it from lending to consumers, after it found that the company inflated its job placement rates to...more

Sheppard Mullin Richter & Hampton LLP

Crypto Platform Settles SEC and State Regulator Charges over Interest Bearing Feature on Customer Accounts

On February 7, a Florida-based cryptocurrency company agreed to settle charges brought by the SEC and the California Department of Financial Protection and Innovation alleging that, an interest-earning feature offered on the...more

Sheppard Mullin Richter & Hampton LLP

Federal Jury: Trade Association and Real Estate Brokerages Conspired to Inflate Commissions, $1.8B in Damages to Plaintiffs

On October 31, a federal jury in the U.S. District Court for the Western District of Missouri found the defendants, a trade association, which represents residential and commercial real estate industries, and multiple...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Challenges of Using the Current Law to Address Dark Patterns, with Guest Gregory...

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After discussing what are “dark patterns” and the most common forms they can take, we consider whether and how “dark patterns” used to influence consumers’ online behavior differ from traditional scams directed at consumers...more

Troutman Pepper Locke

Troutman Pepper Attorneys Update Fair Lending Handbook for the American Association of Bank Directors - The Consumer Finance...

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Please join Troutman Pepper Partners Chris Willis and Lori Sommerfield, along with American Association of Bank Directors (AABD) President David Baris, for a special announcement about the recently published second edition of...more

Good2bSocial

Podcast Episode 179: How to Start and Succeed at Creating Your Law Firm Podcast

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In this episode of the Legal Marketing 2.0 Podcast, Guy is joined by Alan Kaplinsky, the senior counsel and for 25 years the chair of the consumer financial services group at the Ballard Spahr law firm. He is the recipient of...more

Sheppard Mullin Richter & Hampton LLP

FTC Renews Focus on Dark Patterns

Following its 2021 Dark Patterns enforcement policy, the FTC recently issued a staff report on the practice. The report summarized many of the cases the agency has brought against companies it alleges have engaged in “dark...more

BCLP

What will the disputes landscape look like for firms subject to the Consumer Duty?

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On 27 July 2022, the FCA published its policy statement, PS22/9, setting out its final rules for its new Consumer Duty (“Duty”), together with accompanying non-Handbook guidance. The Duty aims to set higher standards of...more

BCLP

CFPB guidance on pay-to-pay fees impacts consumer loan agreements

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Consumer debt collectors may not be permitted to charge consumers “convenience fees” for card payments, which the Consumer Financial Protection Board (the “CFPB”) calls “pay-to-pay” fees, unless the underlying loan agreement...more

BakerHostetler

Taking a Lesson from the FTC - Reviews and Gag Clauses Emerge as CFPB Issues

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We have talked a lot this year about the Federal Trade Commission’s (FTC) focus on reviews, and so far we have seen cases involving review suppression and incentivized reviews, as well as new guidance about how platforms and...more

Latham & Watkins LLP

UK FCA Publishes Detailed Plans for New Consumer Duty

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FCA makes clear that it expects a cultural shift in how firms focus on consumers. On 7 December 2021, the FCA published its second Consultation Paper (CP21/36) on introducing a new Consumer Duty....more

Latham & Watkins LLP

New SEC Chairman Gives His First Speech on Crypto

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Gary Gensler asserts the SEC’s broad powers over digital assets, and puts consumer protection at the forefront. On August 3, 2021, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), gave a speech on...more

WilmerHale

Expectations For CFPB's Fair Lending Agenda Under Biden

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It is clear just a few weeks into the Biden administration that fair lending and racial equity will return as a central focus of regulators under President Joe Biden. Biden issued a memorandum his first week in office...more

Wiley Rein LLP

[Webinar] Federal Consumer Protection Priorities in 2021: Reading the Tea Leaves - December 8th, 3:00 pm - 4:00 pm EST

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Changes in federal consumer protection priorities in 2021 are afoot. President Trump’s appointees at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) changed course on a range of consumer...more

Womble Bond Dickinson

CFPB Promises “Flexible” Approach to Credit Reporting During Pandemic

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In a policy statement released on April 1, 2020, the Consumer Financial Protection Bureau (“CFPB”) stated that it will take a “flexible supervisory and enforcement approach” during the COVID-19 pandemic....more

BCLP

Consumer Financial Services and Fintech Enforcement Trends in California

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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

Data Modeling Remains Auto Finance Target in CFPB’s Fair Lending Governance

The Consumer Financial Protection Bureau made it clear that it will continue to target auto finance lenders as one of its top supervisory and enforcement priorities in the Fair Lending Report of the Bureau of Consumer...more

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