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Consumer Financial Protection Bureau (CFPB) Coronavirus/COVID-19 Financial Services Industry

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 4

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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

McGlinchey Stafford

CFPB Issues Auto Finance Supervisory Highlights Sharing Marketing, Servicing, and Add-on Findings

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A new “Auto Finance Special Edition” of the Consumer Financial Protection Bureau’s (CFPB or Bureau) Supervisory Highlights was released on October 7, 2024, and it is important for those overseeing compliance in their auto...more

Orrick, Herrington & Sutcliffe LLP

CFPB: Credit card delinquencies can be credited to loosened lending standards

On August 6, the CFPB published a blog post regarding a rise in credit card delinquencies since the Covid-19 pandemic. The Bureau reported an increase in credit scores and a decrease in credit card delinquencies during the...more

Venable LLP

CFPB Proposes Revamping Mortgage Servicing Rules

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The CFPB released its much-anticipated proposed update to the mortgage servicing rules last month that would make permanent many of the temporary servicing rules enacted in response to the COVID-19 pandemic. ...more

Ballard Spahr LLP

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic

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The complexity of loss mitigation programs designed to assist distressed mortgage borrowers during the COVID-19 pandemic may have been too daunting for many borrowers to seek help, the CFPB said, in a report released last...more

McGlinchey Stafford

CFPB Supervisory Highlights Reflect Continued Emphasis on “Junk Fees”

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On April 24, 2024, the Consumer Financial Protection Bureau (CFPB) released the latest edition of its Supervisory Highlights, this time targeting so-called “junk fees” in the mortgage servicing industry. According to the...more

Eversheds Sutherland (US) LLP

A Measured Approach - US Cybersecurity and Data Privacy Review and Update: Looking back on our 2023 articles and planning ahead...

Technological advances, especially in Artificial Intelligence and quantum computing, will continue to amaze in the coming years. They will open up vast new opportunities while presenting profound regulatory, litigation, and...more

Hudson Cook, LLP

CFPB Orders National Bank to Pay Nearly $21 Million For Alleged Misconduct Relating to COVID-era Unemployment Payments

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On December 19, 2023, the CFPB issued an administrative consent order alleging that a Minneapolis-based National Bank inappropriately froze the accounts of "tens of thousands" of recipients of unemployment benefits via...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s report on Americans’ financial health, post-pandemic.

On December 1, the CFPB released a report titled: “Making Ends Meet in 2023: Insights from the Making Ends Meet Survey” that discussed Americans’ financial health in 2023 in comparison to 2019 – before the Covid-19 pandemic. ...more

Hudson Cook, LLP

CFPB Bites of the Month - February 2023 - "Every Compliance Rose Has Its Thorns"

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In this month's article, we share some of our top "bites" for the prior month covered during the February webinar....more

Orrick, Herrington & Sutcliffe LLP

CFPB releases data on pandemic credit scores

On January 25, the CFPB released a blog post on credit score transitions during the Covid-19 pandemic. Using data available to the Bureau, the agency examined the transitions of consumers across credit score tiers using a...more

Orrick, Herrington & Sutcliffe LLP

CFPB says servicers should suggest sales over foreclosures for some borrowers

On January 20, the CFPB encouraged mortgage servicers to advise homeowners struggling to pay their mortgages that a traditional sale may be better than foreclosure. The Bureau reported that due to the Covid-19 pandemic many...more

Orrick, Herrington & Sutcliffe LLP

CFPB says EFTA applies to pandemic assistance prepaid cards

On January 10, the CFPB filed an amicus brief in a case before the U.S. Court of Appeals for the Fourth Circuit concerning the scope of accounts covered under EFTA and Regulation E. ...more

Hudson Cook, LLP

CFPB Bites of the Month: A December to Remember

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In this month's Top 10 article, we share some of our top "bites" for the prior month covered during the December 21, 2022, webinar. So, what happened last month?...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: Issue 12, December 2022

US Senators Ask SoFi About Its Banking Law Compliance = “Four U.S. senators have signed a letter to SoFi Technologies CEO Anthony Noto expressing concerns about the online personal finance company and online bank’s digital...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 12, 2022)

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Regulatory Announcements- CFPB Issues Advisory Opinion on FCRA Permissible Purposes for Providing Consumer Reports. On July 7, the CFPB issued an Advisory Opinion on the Fair Credit Reporting Act (FCRA) that outlines...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - July 2022

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Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - June 2022 # 4

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - June 2022 # 3

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Volume 2, Issue 5

Banking Law Rooted in Civil Rights Era Gets a 21st Century Update "The Community Reinvestment Act basically mandates that if you open a bank in a low-income neighborhood, you can’t just take that neighborhood’s deposits and...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, June 3, 2022

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Federal Agencies- U.S. Department of the Treasury- U.S. Treasury Severs More Networks Providing Support for Putin and Russia's Elites-...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - May 2022 # 4

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - May 2022 # 3

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - May 2022 #2

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter - May 2022

Troutman Pepper Locke on

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative...more

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