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Coronavirus/COVID-19 › Consumer Financial Products

Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms... more +
Read guidance, analysis, and updates on the myriad issues arising from the global response to the COVID-19 pandemic. Updated hourly every day, the insights published here are written by leading lawyers and law firms helping to make sense of insurance, employment, tax, securities, M&A, risk management, and every other consideration touched by this crisis. Follow the channel for a daily email brief of the latest and best updates. less -
Cozen O'Connor

Hundreds of Millions Lost by Seniors Due to Bankruptcies Filed by CCRC Communities

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The Wall Street Journal has reported that recent bankruptcies nationwide in the Continuing Care Retirement Community (CCRC) segment of the long-term care marketplace have resulted in residents losing their buy-in deposit....more

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

McGlinchey Stafford on

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

Orrick, Herrington & Sutcliffe LLP on

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

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

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

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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

Orrick, Herrington & Sutcliffe LLP on

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

States file brief in support of Biden’s student loan debt-relief program

Orrick, Herrington & Sutcliffe LLP on

On January 11, a coalition of 22 state attorneys general from Massachusetts, California, Colorado, Connecticut, Delaware, the District Of Columbia, Hawaii, Illinois, Maryland, Michigan, Minnesota, Nevada, New Jersey, New...more

Orrick, Herrington & Sutcliffe LLP

CFPB says EFTA applies to pandemic assistance prepaid cards

Orrick, Herrington & Sutcliffe LLP on

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

Orrick, Herrington & Sutcliffe LLP

Education Dept. extends student loan moratorium

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On December 22, the Department of Education announced a 90-day extended pause on student loan repayment, interest, and collections through May 1, 2022, which will allow the Biden Administration “to assess the impacts of the...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

Nelson Mullins Riley & Scarborough LLP

Treasury Announces a Second Application Round for ECIP Investments

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The United States Department of the Treasury (“Treasury”) recently announced that a second application round has opened for investments in eligible Minority Depository Institutions (“MDIs”) and Community Development Financial...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

Sheppard Mullin Richter & Hampton LLP

CFPB Signals Foray into Protecting Small Businesses from Abusive Debt Collectors

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On April 15, the CFPB and FTC announced the release of a joint annual report to Congress administering the Fair Debt Collection Practices Act (FDCPA).  The annual report highlights both agencies’ efforts to protect and...more

Wiley Rein LLP

Wiley Consumer Protection Download (February 7, 2022)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Cadwalader, Wickersham & Taft LLP

And the Beat Goes On - January 2022 | Issue No. 157 - NAV Finance Market Update

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Between Omicron, the holidays, and down-to-the-wire end-of-year closings, it was a hectic finish to 2021. But now that the calendar reads 2022, we wanted to reflect this week on the state of the NAV finance market and provide...more

Hudson Cook, LLP

2020 CFPB TRID Developments

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The year 2020 marked the five-year anniversary of the TILA-RESPA Integrated Disclosure rule (TRID Rule). While the year passed without any additional formal rulemaking from the Consumer Financial Protection Bureau (Bureau or...more

Goodwin

CFPB, Banking Agencies, and State Regulators Warn of Increased Scrutiny on Mortgage Servicers

Goodwin on

The CFPB, federal banking agencies, and state regulators are returning to pre-pandemic norms with respect to enforcement and supervision of the mortgage servicing industry. On November 10, 2021, the Board of Governors of the...more

Goodwin

CFPB Issues Interpretive Rule on FCRA Consumer Information Matching Requirements

Goodwin on

In This Issue. The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule on Fair Credit Report Act consumer information matching requirements; the Securities and Exchange Commission (SEC) approved the Public...more

Hudson Cook, LLP

CFPB Bites of the Month - October Top 10

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So, what happened at the CFPB in the past month? Bite #10 - An appeals court vacated the CFPB's award against two mortgage relief companies and their attorneys. Back in 2014, the CFPB brought an action against two legal...more

Troutman Pepper Locke

CFPB Report Indicates Consumer Credit Card Use Trends Returning to Pre-Pandemic Levels

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On September 29, the Consumer Financial Protection Bureau (CFPB) released its biennial report to Congress regarding the consumer credit card climate. The report shows that the market’s growth during the last few years...more

White & Case LLP

Financial institutions M&A: Consumer Finance

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Financial institutions M&A sector trends: consumer finance — H1 2021 and outlook for H2 2021 - Hyper-specialisation of the European consumer finance market continues, with POS, entrepreneur, freelancer, migrant and payroll...more

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