News & Analysis as of

Dispute Resolution Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses and withdraws from several cases

Recently, the CFPB has been actively dismissing or withdrawing from multiple cases following stays and joint dismissals. These include disputes originated under the previous administration involving banking associations,...more

DLA Piper

Mitigating Risks for Banks, Fintech Companies, and Payment Processors

DLA Piper on

Emerging issues under the Electronic Fund Transfer Act, Regulation E, and the UCC - As banks, fintech companies, and payment processors continue to innovate and partner on payment and wallet solutions, they must navigate the...more

Katten Muchin Rosenman LLP

The Latest Attack on Consumer Arbitration Agreements

The war against arbitration agreements continues apace. The latest volley comes from the U.S. Court of Appeals for the Fourth Circuit, Johnson v. Continental Finance Company, LLC, No. 23-2047 (4th Cir. Mar. 11, 2025). In...more

McGlinchey Stafford

Litigation Byte (February 2025 Edition)

McGlinchey Stafford on

The District of Maryland rejected a plaintiff’s arguments that a debt collector’s verification of a debt in response to a letter refusing to pay, but disputing the debt, violated the cease communication directive under the...more

Fox Rothschild LLP

Amid Uncertainty, Government Contractors Should Document, Notify, and Escalate Claims

Fox Rothschild LLP on

Government contractors working for the Department of Education (DE), the United States Agency for International Development (USAID), and other agencies like the National Science Foundation (NSF) and Consumer Financial...more

Ballard Spahr LLP

CFPB denies consumers’ petition for rule prohibiting pre-dispute arbitration clauses

Ballard Spahr LLP on

We are very pleased to report that the CFPB has denied a Petition for Rulemaking filed by a group of consumer advocate organizations that would prohibit the use of pre-dispute arbitration clauses in consumer contracts in...more

Sheppard Mullin Richter & Hampton LLP

CFPB Permanently Bans Arbitration Company from Arbitrating Consumer Financial Disputes

On October 10, the CFPB settled an action against a California-based private arbitration company permanently banning it from arbitrating disputes related to consumer financial products or services. The company operates an...more

Troutman Pepper Locke

Resolving FCRA Disputes With e-OSCAR: Insights from Joel Strickland — FCRA Focus Podcast

Troutman Pepper Locke on

In this episode of Troutman Pepper's FCRA Focus podcast, host Kim Phan delves into the topic of dispute resolution through the e-OSCAR system with special guest, Joel Strickland, the director of customer success at e-OSCAR....more

Jenner & Block

Client Alert: Buy Now, Pay Later: A Roadmap for Providers as Regulators Continue to Increase Scrutiny

Jenner & Block on

Point-of-sale financing arrangements payable in four or fewer interest-free installments, known as buy now, pay later (BNPL) arrangements, have soared since their initial breakthrough during the pandemic. Unlike conventional...more

Troutman Pepper Locke

Federal Magistrate Judge Orders CFPB to Produce Employees for Depositions in Citizens Bank Lawsuit

Troutman Pepper Locke on

A federal magistrate judge in Rhode Island has ruled that the Consumer Financial Protection Bureau (CFPB or Bureau) must produce three employees for depositions, denying the agency’s motion for a protective order....more

Spilman Thomas & Battle, PLLC

Plaintiffs Pursuing Increased Class Action Claims for Overdraft Fees and Charges Against Customers

With plaintiff attorneys seeing potential large dollar settlements and verdicts, along with increased regulatory scrutiny, banks need to review their overdraft practices. As noted by the American Bankers Association, banks...more

Morrison & Foerster LLP

Core Considerations for Out-of-Network BNPL Payments

Much has been written about the Buy Now, Pay Later (BNPL) industry in the recent past. Consumers enjoy the payment flexibility and interest-free features of many BNPL products and frequently use them as a substitute payment...more

Shipkevich PLLC

CFPB Circular Clarifies Consumer Reporting Agencies and Furnishers of Information can be Liable under Fair Credit Reporting Act...

Shipkevich PLLC on

On November 10, 2022, the Consumer Financial Protection Bureau (CFPB) released Consumer Financial Protection Circular 2022-07 (hereinafter, “the Circular”). The Circular resolves two issues for credit reporting agencies...more

Bricker Graydon LLP

Financial Services Law: Recent CFPB guidance provides flexibility for investigating consumer credit reporting disputes

Bricker Graydon LLP on

On April 1, 2020, the Consumer Financial Protection Bureau (CFPB) provided guidance on how it plans to handle consumer credit reporting oversight during COVID-19. As part of that guidance, the CFPB stated that it intends to...more

Ballard Spahr LLP

CFPB and FTC announce issues for panels at Dec. 10 workshop on accuracy in consumer reporting

Ballard Spahr LLP on

The CFPB and FTC announced the issues that the panels will discuss at the workshop on accuracy in consumer reporting that the agencies will co-host on December 10, 2019. ...more

Ballard Spahr LLP

CFPB files lawsuit against debt collector and CEO for alleged FCRA, FDCPA, CFPA violations

Ballard Spahr LLP on

On September 25, 2019, the CFPB filed a lawsuit in federal district court in Maryland against Maryland-based debt collector FCO Holding, Inc. (“FCO”), its various subsidiaries and Michael E. Sobota, the CEO, president,...more

Smith Debnam Narron Drake Saintsing & Myers,...

Spring is Here and a Proposed Debt Collection Rule is Imminent

More than five years after it issued its Advanced Notice of Proposed Rulemaking, the CFPB appears poised to issue its proposed debt collection rules. The first hint that this was imminent came in the fall of 2018 when the...more

Morrison & Foerster LLP

CFPB Outlines Principles for Consumer-Authorized Financial Data Sharing and Aggregation

Morrison & Foerster LLP on

On October 18, the Consumer Financial Protection Bureau (CFPB or Bureau) released a set of guiding principles for participants in the financial data sharing and aggregation industry. The publication of the consumer protection...more

Morrison & Foerster LLP

What To Know About CFPB's New Prepaid Card Rule

The Consumer Financial Protection Bureau issued its final rule to amend provisions of Regulation E and Regulation Z to further regulate prepaid card products, or “prepaid accounts.” As discussed below, the rule generally...more

Morrison & Foerster LLP

CFPB Finalizes Sweeping Prepaid Account Rule

On October 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) issued its long-awaited final rule to further regulate prepaid card products, or “prepaid accounts” (the “Final Rule” or “Rule”). The Final Rule follows...more

Goodwin

Financial Services Weekly News - February 2015 #2

Goodwin on

Regulatory Developments - CFPB Announces Steps to Improve Checking Account Access - On Feb. 3, the CFPB announced that it was taking three steps to expand checking account access to the approximately 10 million...more

Ballard Spahr LLP

FTC provides advice to consumers on communicating with debt collectors

Ballard Spahr LLP on

In a recent blog post, Dan Dwyer, a Staff Attorney with the FTC’s Division of Financial Practices, provided advice to assist consumers in communicating with a debt collector when the consumer does not recognize the debt. The...more

Ballard Spahr LLP

CFPB issues third Financial Literacy Annual Report

Ballard Spahr LLP on

The CFPB has issued its third Financial Literacy Annual Report to Congress. The report covers the CFPB’s activities to improve consumer financial literacy during the period from June 2014 through September 2015. The report’s...more

Goodwin

Financial Services Weekly News - October 2015

Goodwin on

Regulatory Developments - FINRA Files Proposed Rule Change to Apply Markup Rule to Government Securities: On Sept. 30 FINRA filed with the SEC a proposed rule change, published in the Federal Register on Oct. 6, to...more

Ballard Spahr LLP

Noted Scholars Critique the CFPB’s Arbitration Study and Find It Lacking

Ballard Spahr LLP on

We have previously blogged about the comment letter concerning the CFPB’s March 10, 2015 Study on consumer arbitration that we submitted to the CFPB on behalf of the American Bankers Association, the Consumer Bankers...more

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