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Consumer Financial Products › Regulatory Agenda › Non-Bank Lenders

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

Troutman Pepper Locke

The Reversals Continue: CFPB Proposes Rescission of Supervisory Designation Amendments

Troutman Pepper Locke on

On May 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule to rescind amendments to its Procedures for Supervisory Designation Proceedings, originally adopted in 2022 and 2024. This...more

Shipkevich PLLC

CFPB to Begin Tracking Offenders through National Registry

Shipkevich PLLC on

The CFPB has issued a final rule to provide transparency and track certain covered nonbank offenders. On June 3, 2024, the CFPB introduced a significant regulatory measure known as the Registry of Nonbank Covered Persons...more

Cadwalader, Wickersham & Taft LLP

CFPB Issues Proposed Rule on Form Contracts

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The Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule last week addressing the “Registry of Supervised Nonbanks that Use Form Contracts to Impose Terms and Conditions that Seek to Waive or Limit Consumer...more

Akerman LLP

CFPB Proposes Non-Bank Registration System for Reporting of Enforcement Orders

Akerman LLP on

On December 12th, the CFPB proposed to establish a registration system to catalog regulatory actions involving non-bank providers of consumer financial products and services brought by federal and state regulators.  The...more

Morgan Lewis - All Things FinReg

Members of Congress Introduce Joint CRA Resolution to Overturn the OCC’s True Lender Rule

Morgan Lewis - All Things FinReg on

Senator Chris Van Hollen (D-MD) introduced a Congressional Review Act (CRA) resolution of disapproval on March 26 that would invalidate the Office of the Comptroller of the Currency’s (OCC’s) true lender final rule. ...more

Mayer Brown

State Prudential Standards for Mortgage Servicers: “Ahead of the Curve” or “Dead Man’s Curve”?

Mayer Brown on

I was only 9 years old when Jan and Dean in 1963 released their hit song “Dead Man’s Curve.” I thought about this song when I read the Conference of State Bank Supervisors’ (“CSBS”) Proposed Regulatory Prudential Standards...more

Mayer Brown

Treating a Nonbank Like a Bank: New Proposed Prudential Standards for Nonbank Mortgage Servicers

Mayer Brown on

Should US state nonbank mortgage servicers be subject to “safety and soundness” standards of the type imposed by federal law on insured depository institutions, even though the nonbanks do not solicit and hold customer funds...more

Ballard Spahr LLP

Treasury Recommends Sweeping Regulatory Changes for Consumer Financial Services

Ballard Spahr LLP on

A report issued last week by the U.S. Treasury Department recommends sweeping regulatory changes intended to promote innovation in the consumer financial services market, reduce regulatory burdens on consumer financial...more

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