News & Analysis as of

Data Collection Credit Reports Consumer Financial Protection Bureau (CFPB)

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

Orrick, Herrington & Sutcliffe LLP

CFPB issues correction of “credit invisibles” estimate

On June 23, the CFPB issued a technical correction and update to its estimate of “credit invisibles” — adults in the U.S. without a credit record or with insufficient credit history to generate a credit score. As previously...more

Ballard Spahr LLP

Borrowers with poor credit ratings make up majority of BNPL borrowers

Ballard Spahr LLP on

Borrowers with subprime or deep subprime credit scores make up the majority of Buy Now, Pay Later (BNPL) originations, the CFPB said, in a new report. From 2021 to 2022, borrowers with deep subprime credit scores accounted...more

Troutman Pepper Locke

CFPB Releases Report Highlighting Consumer Use of Buy Now, Pay Later Products

Troutman Pepper Locke on

On January 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report providing its analysis of the growth and impact of Buy Now, Pay Later (BNPL) loans in the United States since 2019. BNPL loans,...more

Husch Blackwell LLP

Mark Your Calendars: 2025 Compliance Dates for Key Consumer and Small Business Financial Services Regulations

Husch Blackwell LLP on

One of the primary challenges with working in the U.S. financial services space is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory...more

Husch Blackwell LLP

CFPB's Proposed Data Broker Rule: A Sweeping Rewrite of the Fair Credit Reporting Act Regulations That Will Be Left to New CFPB...

Husch Blackwell LLP on

On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) published its highly anticipated notice of proposed rulemaking (NPRM) that would regulate data brokers and the sale of Americans’ personal and financial...more

Husch Blackwell LLP

The CFPB's State Privacy Report Is the CFPB's Latest Effort to Influence State Policymakers

Husch Blackwell LLP on

In the closing months of the Consumer Financial Protection Bureau (CFPB) under Director Rohit Chopra, the CFPB has continued its efforts to influence how states regulate financial services providers. On November 12, the CFPB...more

Foley & Lardner LLP

Consumer Financial Protection Bureau Proposes Rule to Regulate Data Brokers Under Fair Credit Reporting Act

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (CFPB) today announced a proposed new rule that all data brokers be regulated under the 1970 Fair Credit Reporting Act (FCRA), a federal law that protects the use and privacy of credit...more

Ballard Spahr LLP

NCLC Asks CFPB to Consider Residential Leases as Credit for Specific Purposes

Ballard Spahr LLP on

The National Consumer Law Center is asking the CFPB, by way of a petition, for rulemaking that is long on policy arguments but woefully short on legal support, as we note below, to define residential leases as “credit” under...more

Venable LLP

CFPB Releases FCRA Rulemaking Outline Topics

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) is currently considering a rulemaking to address various consumer reporting topics under the Fair Credit Reporting Act (FCRA) and has released an Outline of Proposals and...more

Orrick, Herrington & Sutcliffe LLP

CFPB seeks input on data broker businesses

On March 15, the CFPB issued a Request for Information (RFI) seeking public input on data broker business practices in order to inform planned rulemaking under the FCRA and help the agency understand the current state of the...more

Shipkevich PLLC

CFPB Announces Inquiry into Data Brokers: Seeking Public Input on Business Practices

Shipkevich PLLC on

On March 15, 2023, the Consumer Financial Protection Bureau (CFPB) announced an inquiry into companies that gather and track information about people's personal lives. The apparent purpose of this inquiry is to gain a better...more

Goodwin

CFPB Encourages Consumers To “Hold Accountable” Consumer Reporting Companies By Filing Disputes and FCRA Lawsuits

Goodwin on

On January 27, 2022, the Consumer Financial Protection Bureau (CFPB) published its updated annual list of consumer reporting companies for the purpose of encouraging consumers to seek access to their files, and sue if they...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

Morrison & Foerster LLP on

Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

Pillsbury Winthrop Shaw Pittman LLP

Senate Confirms Rohit Chopra as CFPB Director

As CFPB Director, Rohit Chopra will vigorously apply the CFPB’s authority to promulgate rules, conduct examinations, and bring enforcement actions. CFPB Acting Director Uejio has laid the groundwork for Director Chopra to...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Report Reveals Impact Removal Of Public Records Has On Credit Reporting: Did It Make A Difference?

The CFPB recently issued its second Quarterly Consumer Credit Trends Report which examines the impact of changes to credit reporting regarding the reporting of civil public records. ...more

16 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