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Consumer Financial Protection Bureau (CFPB) › Loans › Regulatory Reform

Troutman Pepper Locke

Insights from the CFPB’s Latest Report on Credit Invisibility

Troutman Pepper Locke on

n June 23, the Consumer Financial Protection Bureau (CFPB or Bureau) released an update to its 2015 report on Americans who did not have a credit record (credit invisibles) or who had insufficient credit history to have a...more

Dinsmore & Shohl LLP

Consumer Lending Compliance in Uncertain Times

Dinsmore & Shohl LLP on

In recent months, virtually every regulated industry has witnessed announcements of significant regulatory changes, including the financial services sector....more

Orrick, Herrington & Sutcliffe LLP

Three industry groups pen letters commenting on CFPB rules

Orrick, Herrington & Sutcliffe LLP on

On or around May 12, three industry groups submitted comment letters following the OMB’s request to identify rules and guidance to be deregulated. The letters submitted by industry groups highlighted several regulations for...more

Moore & Van Allen PLLC

CFPB Announces It Will Not Prioritize Enforcement And Supervision Of Its Small Business Lending Data Collection Rule Under The...

Moore & Van Allen PLLC on

On May 1, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervision of its small business lending data collection rule (the “Rule”) implementing the requirements of...more

Holland & Knight LLP

CFPB Plans to Reopen Section 1071 Small Business Lending Rule

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) has revealed its intention to make changes to the small business loan data collection and reporting rule (1071 Rule) in light of continued opposition from financial institutions...more

Stinson LLP

The End of Section 1071 as We Know It: CFPB to Reopen Rulemaking

Stinson LLP on

In a recent filing in the U.S. District Court for the Southern District of Florida, the Consumer Financial Protection Bureau (CFPB) disclosed that its new leadership has directed staff to initiate a fresh rulemaking process...more

Orrick, Herrington & Sutcliffe LLP

CFPB announces it will not enforce its payday lending rule

Orrick, Herrington & Sutcliffe LLP on

On March 28, the CFPB announced it would not prioritize enforcement or supervision actions related to penalties or fines associated with the payment withdrawal and payment disclosure provisions of the “Payday, Vehicle Title,...more

Sheppard Mullin Richter & Hampton LLP

CFPB to Withdraw BNPL Interpretive Rule Amid Broader Agency Rollback

Sheppard Mullin Richter & Hampton LLP on

The CFPB has announced plans to withdraw its May 2024 interpretive rule that subjected buy-now, pay-later (BNPL) products to regulations applicable to credit cards under the Truth in Lending Act (TILA). The move was revealed...more

Ballard Spahr LLP

Republicans renew efforts to repeal Section 1071

Ballard Spahr LLP on

Republicans on Capitol Hill are seeking to repeal a section of the Dodd-Frank Act that requires financial institutions to report information contained in loan applications submitted by women-owned, minority-owned and...more

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