The CFPB Takes Action Against VyStar Credit Union
Consumer Finance Monitor Podcast Episode: A Close Look at the Consumer Financial Protection Bureau’s Proposal to Supervise Large Nonbank Providers of Digital Wallets and Payment Apps
Navigating the SEC's Whistleblower Enforcement Wave: A Guide for Financial Institutions — The Consumer Finance Podcast
Status of the DOJ's Combatting Redlining Initiative — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: The CARS Rule: What You Need To Know About the Federal Trade Commission’s Final Motor Vehicle Dealer Trade Regulation Rule, Part I
Year in Review and a Look Ahead: Unraveling the Threads of Class Action Litigation — The Consumer Finance Podcast
Chris Willis Discusses the 2023 CFS Year in Review and A Look Ahead
The Future of Digital Consumer Payment Applications: CFPB's Proposed Larger Participant Rule – The Consumer Finance Podcast and Payments Pros Podcast
Consumer Finance Monitor Podcast Episode: The Biden Admin “Junk Fees” Initiative Continues: What the Latest Actions Mean for the Consumer Financial Services and Rental Housing Industries, Pt 1
Consumer Finance Monitor Podcast Episode: The Consumer Financial Protection Bureau’s Policy Statement on Abusive Acts and Practices Under the Consumer Financial Protection Act
A Look at Recent Federal Trade Commission and Consumer Financial Protection Bureau Initiatives Concerning Privacy and Data Security
In a move that could have ramifications for lawsuits filed by former FTC and NCUA board members, by a vote of 6-3 the Supreme Court has issued a stay that prohibits the Democratic members of the National Labor Relations Board...more
On March 3, the Massachusetts Attorney General (AG) announced new regulations to combat so-called “junk fees” by requiring businesses to disclose total product costs upfront and simplify cancellation processes for trial...more
On February 28, the CFPB submitted a letter to the U.S. SDNY advising it will continue to pursue a lawsuit from 2022 alleging a lender violated the Military Lending Act and UDAAP provisions of the CFPA. As previously covered...more
With an across-the-board freeze on all rulemaking, enforcement, and supervisory activities, and a potential mass lay-off in the works, the CFPB continues to make news. Here’s a recap of all that happened this past week at the...more
We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more
In a significant and highly anticipated move, President Donald Trump has fired Rohit Chopra, the Director of the Consumer Financial Protection Bureau (CFPB or Bureau). Rohit Chopra, who had been serving as the Director of the...more
Just days before the inauguration, the Consumer Financial Protection Bureau (the CFPB) issued guidance to states in a report titled, “Strengthening State-Level Consumer Protections: Promoting Consumer Protection Federalism.”...more
On January 13, the CFPB proposed a new rule to ban large banks and consumer finance companies from using certain contractual provisions in agreements with consumers under Regulation AA. The CFPB’s proposal warns against the...more
As the Biden Administration came to a close, the CFPB released a compendium of guidance documents issued by the bureau between October 2021 and January 2025....more
On January 13, 2025, the CFPB announced a proposed rule aimed at prohibiting companies from including in consumer agreements terms that operate to waive consumers’ legal rights, allow companies to unilaterally change key...more
The CFPB is calling on state governments to increase their focus on consumer financial protection laws....more
The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements for consumer financial products or services. The CFPB’s proposal targets certain...more
The National Credit Union Administration has issued guidance to federal credit unions regarding the consumer harm stemming from certain overdraft and non-sufficient funds (NSF) fee practices. The NCUA will continue to review...more
The CFPB warned on July 24, 2024, that confidentiality agreements that employees of a company are required to sign likely violate federal law if those agreements imply that employees could face retaliation from their...more
The financial services and banking industry landscape continues to evolve in the face of new and emerging technologies. This phenomenon is especially prevalent in the sharing of consumer data between financial institutions...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule with request for public comment to prohibit covered financial institutions from charging nonsufficient funds fees (NSF) for payment...more
On January 24, 2024, a week after issuing its proposed rulemaking for overdraft services, the Consumer Financial Protection Bureau (“CFPB”) issued its proposed rulemaking on non-sufficient funds (NSF) fees....more
On November 7, 2023, the Consumer Financial Protection Bureau (“CFPB”) announced a new proposed rule wherein providers of digital wallets and payment apps would be defined as “Larger Participants” and would become subject to...more
On October 19, 2023, the Consumer Financial Protection Board (“CFPB”) released a proposed rule that, if enacted, would grant consumers greater access rights to the data their financial institutions hold. Under the proposed...more
Two companion bills titled the “Consumer and Small Business Protection Act” have been introduced in the New York legislature would make sweeping changes to the provisions of the state’s general business law (Section 349)...more
Since October 2021, when Rohit Chopra took over as Director, the Consumer Financial Protection Bureau ("CFPB") has taken a number of steps to assert its leadership role in the patchwork of regulatory jurisdiction and...more