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Consumer Financial Products › Regulation E › Consumer Financial Protection Act (CFPA)

Orrick, Herrington & Sutcliffe LLP

CFPB files amended complaint against bank following court’s denial

Orrick, Herrington & Sutcliffe LLP on

On March 13, the CFPB filed an amended complaint against a Texas bank alleging violations of the CFPA, the EFTA, and its implementing Regulation E. The complaint related to a program in which the bank managed federal benefit...more

Cooley LLP

CFPB Finalizes Section 1033 Rule on Personal Financial Data Rights

Cooley LLP on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) released its long-awaited final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA) concerning personal financial data rights....more

Orrick, Herrington & Sutcliffe LLP

The CFPB’s Final Rule on Personal Financial Data Rights: What Financial Institutions Should Know

Orrick, Herrington & Sutcliffe LLP on

The Consumer Financial Protection Bureau (CFPB) has issued a final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA), which addresses personal financial data rights. The final rule mandates that...more

Goodwin

CFPB Issues Circular about Deceptive Marketing Practices in Connection with Remittance Transfers

Goodwin on

Late last month, the Consumer Financial Protection Bureau (CFPB) issued a new Consumer Financial Protection Circular (Circular) which provides guidance about when a remittance transfer provider may be in violation of the...more

Paul Hastings LLP

CFPB: Fixing Something That’s Not Broken – But Setting Forth a Framework for Abusive Conduct

Paul Hastings LLP on

The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) recently issued a proposed rule that would prohibit financial institutions from charging nonsufficient funds (“NSF”) fees on instantaneously declined transactions....more

Ballard Spahr LLP

CFPB issues proposal to supervise nonbank providers of digital wallets and payment apps

Ballard Spahr LLP on

The CFPB has issued a proposed rule to supervise nonbank companies that qualify as larger participants in a market for “general-use digital consumer payment applications.”  Comments on the proposal are due by January 8, 2024...more

Troutman Pepper Locke

CFPB Launches Rulemaking to "Jumpstart" Open Banking

Troutman Pepper Locke on

On October 19, the Consumer Financial Protection Bureau (CFPB) issued its highly anticipated notice of proposed rulemaking under Section 1033 of the Consumer Financial Protection Act of 2010 (CFPA). The proposed Personal...more

Goodwin

Bureau Sues Snap Finance for Its Financing Options to Asset Limited Consumers

Goodwin on

On July 19, 2023, the Consumer Financial Protection Bureau (“CFPB”) sued Snap Finance LLC, Snap R TO LLC, Snap Second Look LLC, Snap U.S. Holdings LLC, and Snap Finance Holdings LLC (collectively, the Snap Defendants or...more

Goodwin

CFPB Secures Consent Order Against Student Loan Servicer for Failure to Comply with 2015 Consent Order and Alleged Deceptive Acts...

Goodwin on

On December 22, 2020, the Consumer Financial Protection Bureau (CFPB) announced​ that it had secured a consent order ​against a national student loan servicer based on its failure to comply with a 2015 consent order issued by...more

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