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Ballard Spahr LLP

CFPB Seeks Comments On Raising ‘Larger Participant’ Thresholds

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On August 8, 2025, the Consumer Financial Protection Bureau (“CFPB”) issued four advance notices of proposed rulemaking (“ANPR”) inviting comments on whether it should substantially reduce the number of nonbank companies the...more

Holland & Knight LLP

CFPB Seeks Comments on Increased Larger Market Participant Thresholds in 4 Key Markets

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The CFPB published four advanced notices for proposed rulemaking in the Federal Register on Aug. 8, 2025. Each notice seeks comment from experts within the automobile financing, international money transfer, consumer...more

Sheppard Mullin Richter & Hampton LLP

CFPB Seeks Comment on Proposed Rules to Scale Back Larger Participant Thresholds

Four advance notices of proposed rulemaking scheduled for publication on August 8 will solicit public comment on whether the CFPB should raise the size thresholds that determine which nonbank entities qualify as “larger...more

Ballard Spahr LLP

CFPB Files Rulemaking Items With Office of Management and Budget

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The CFPB recently made filings with the Office of Management and Budget (OMB) regarding the following rules...more

Ballard Spahr LLP

Chopra says CFPB finalizing medical debt rule; agency issues advisory opinion on debt collector practices

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The CFPB is in the process of completing its final rule intended to ban the inclusion of medical debts in credit reports, bureau Director Rohit Chopra said at a White House session intended to focus on practices in the...more

Troutman Pepper Locke

CFPB Intensifies Scrutiny on Medical Debt Collection Practices

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On October 1, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion aimed at debt collectors and emphasizing their obligations under the Fair Debt Collection Practices Act (FDCPA) and Regulation...more

Troutman Pepper Locke

Navigating FCRA and Debt Collection With Special Guest Bridgeforce's Michelle Macartney — FCRA Focus Podcast

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In this episode of FCRA Focus, host Kim Phan is joined by fellow Troutman Pepper partner Stefanie Jackman and Michelle Macartney, managing partner and chief compliance officer at Bridgeforce. Together, they delve into the...more

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

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The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Troutman Pepper Locke

CFPB Proposed Rule Banning Reporting of Medical Debt

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On June 11, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule amending Regulation V, which implements the Fair Credit Reporting Act (FCRA), concerning medical debt. The proposed rule would...more

Ballard Spahr LLP

CFPB issues letters in support of Connecticut and California bills on medical debt reporting; Connecticut bill enacted

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The Consumer Financial Protection Bureau (CFPB) has issued two letters in support of state efforts to prohibit medical debt reporting. In March 2024, CFPB Director Rohit Chopra sent a letter to the California State Senate in...more

Troutman Pepper Locke

CFPB Issues Findings on Recent Changes in Medical Collections on Consumer Reports

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Earlier this week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its second report detailing changes in the credit reporting of medical debts made by the three national consumer reporting agencies (CRAs)...more

Ballard Spahr LLP

CFPB Publishes Consumer Response Annual Report

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The CFPB published its Consumer Response Annual Report for 2023, which discusses the consumer complaints received by the CFPB in that year and how companies responded to those complaints. The CFPB monitors consumers’...more

Troutman Pepper Locke

CFPB Annual Report Sees Continued Increase in Consumer Reporting Complaints and Complaints Involving Fraudulent Activity, Student...

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On March 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Consumer Response Annual Report, providing a high-level overview of the 1,657,600 consumer complaints received by the Bureau from January 1...more

Ballard Spahr LLP

Trade groups urge CFPB to issue ANPR on FCRA rulemaking

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In September 2023, the CFPB announced that it was launching a Fair Credit Reporting Act rulemaking and issued an outline of the proposals it is considering in preparation for convening a Small Business Advisory Review Panel. ...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2023 # 3

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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

Ballard Spahr LLP

AFSA raises concerns about sufficiency of CFPB’s Supervisory Highlights

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In a comment letter sent last week to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a key financial industry trade group raised concerns that a recent edition of the CFPB’s Supervisory Highlights did not...more

Troutman Pepper Locke

Kentucky Federal Court Holds Furnishing Data to Consumer Reporting Agency Does Not Subject Furnisher to Personal Jurisdiction in...

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A United States district court in Kentucky recently granted defendants’ motion to dismiss a case arising under the Fair Credit Reporting Act (FCRA) and Fair Debt Collection Practices Act (FDCPA) for lack of personal...more

Ballard Spahr LLP

CFPB Summer 2023 Supervisory Highlights looks at auto origination and servicing, consumer reporting, debt collection, deposits,...

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The CFPB has released the Summer 2023 edition of Supervisory Highlights.  The report discusses the Bureau’s examinations in the areas of auto origination and servicing, consumer reporting, debt collection, deposits, mortgage...more

Shipkevich PLLC

CFPB Exposes Illegal Practices in Consumer Financial Services: What to Know

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On July 26, 2023, the Consumer Financial Protection Bureau (“CFPB”) published its periodic Supervisory Highlights, summer edition. These most recent Supervisory Highlights shed light on a range of unfair, deceptive, and...more

Hudson Cook, LLP

CFPB Bites of the Month - January 2023 - May Old Compliance Acquaintances be Forgot

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In this month's article, we share some of our top "bites" for the prior month covered during the January 18, 2023, webinar. Bite # 8: The CFPB Publishes Civil Penalty Inflation Adjustments Rule in Federal Register - ...more

Akin Gump Strauss Hauer & Feld LLP

CFPB Intensifies Focus on Consumer Reporting Agencies

In recent weeks, the Consumer Financial Protection Bureau (CFPB), the U.S. government agency that is charged with implementing and enforcing federal consumer financial law, has taken an increasingly active approach on a range...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

Hudson Cook, LLP

Consumer Complaints on the Rise - CFPB's Annual Complaint Report

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As required by the Dodd-Frank Act, the Consumer Financial Protection Bureau recently provided to Congress its Consumer Response Annual Report for 2020. The report's introduction notes that, in 2020, the CFPB received more...more

Hudson Cook, LLP

CFPB Bites of the Month - April Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month's article, we...more

Ballard Spahr LLP

CFPB issues special edition of Supervisory Highlights focused on consumer reporting

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The CFPB has issued a special edition of its Supervisory Highlights that focuses on compliance with the FCRA and Regulation V. The report contains two main sections, with one devoted to supervisory observations at furnishers...more

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