News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Interest Rates Borrowers

Ballard Spahr LLP

CFPB reaches settlement with FirstCash in connection with alleged MLA Violations

Ballard Spahr LLP on

The CFPB has reached a settlement in its lawsuit against FirstCash, Inc. and its 19 subsidiaries alleging violations of the Military Lending Act (MLA). The parties have jointly filed a stipulated final judgment and proposed...more

Skadden, Arps, Slate, Meagher & Flom LLP

Servicemember Financial Protections Emerge as a Trump Enforcement Priority

Key Points - - The CFPB and DOJ have recently prioritized enforcement of federal servicemember protections. - The Servicemembers Civil Relief Act and Military Lending Act provide key protections such as interest rate caps,...more

Orrick, Herrington & Sutcliffe LLP

CFPB says 2024 federal student loan interest rates will cost borrowers

On September 13, the CFPB published a blog post stating that higher student loan interest rates could cost students over $3 billion in the aggregate in additional interest for loans taken out in 2024. The Bureau reported that...more

Ballard Spahr LLP

FirstCash Files Motion for Partial Summary Judgment in Case Filed by CFPB

Ballard Spahr LLP on

FirstCash, a national pawnshop chain, is asking a federal judge to confirm that it has a statutory defense to all of the CFPB’s claims that it violated the Military Lending Act (MLA) while also asking the judge to drop three...more

Sheppard Mullin Richter & Hampton LLP

CFPB 2022 Loan Data: Decrease in Originations; Increase Loan Payments, Fees

On September 27, the CFPB released its annual report on residential mortgage lending activity and trends for 2022. Under the Home Mortgage Disclosure Act (HMDA), the CFPB requires financial institutions to collect and provide...more

Ballard Spahr LLP

CFPB and FHFA Publish Updated Data From National Survey of Mortgage Originations

Ballard Spahr LLP on

The CFPB and Federal Housing Finance Agency (FHFA) recently published for public use updated loan level data from the National Survey of Mortgage Originations (NSMO). The data also provide updated mortgage performance and...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

Goodwin

Financial Services Weekly News: FDIC Issues Deposit Insurance Application Guidance For Non-Banks

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) published new procedures for federal deposit insurance applications from applicants that are not traditional community banks; federal banking regulators released...more

Ballard Spahr LLP

Auto Finance Company Agrees to Change Dealer Compensation Policy to Settle CFPB and DOJ Fair Lending Claims

Ballard Spahr LLP on

To resolve charges by the Consumer Federal Protection Bureau (CFPB) and the Department of Justice (DOJ) that it engaged in unlawful discrimination in violation of the Equal Credit Opportunity Act (ECOA), American Honda...more

Ballard Spahr LLP

Former Colorado regulator and consumer advocate Laura Udis to join CFPB as manager for payday lending program

Ballard Spahr LLP on

We have learned that, starting Monday, Laura Udis will join the CFPB as the Payday and Small Dollar Lending Program Manager in Research, Markets and Regulations. Ms. Udis comes to the CFPB from the Consumer Federation of...more

10 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide