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Final Rules Fair Credit Reporting Act (FCRA) Financial Services Industry

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 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

Troutman Pepper Locke

CFPB Continues “Pausing” Litigation: This Time in Medical Debt Rule Litigation

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The Consumer Financial Protection Bureau (CFPB or Bureau) requested and was granted a 90-day stay in the litigation involving trade associations Cornerstone Credit Union League (Cornerstone) and the Consumer Data Industry...more

Orrick, Herrington & Sutcliffe LLP

2nd challenge to CFPB medical debt reporting rule filed in Texas

On January 8, a complaint was filed in the U.S. District Court for the Southern District of Texas challenging the CFPB’s newly finalized medical debt rule that restricts credit reporting agencies from including medical debt...more

Cooley LLP

CFPB Finalizes Rule Curbing Use and Reporting of Medical Debt

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On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) issued a final rule that would generally prohibit lenders from considering medical debt information when determining a consumer’s eligibility for credit, and...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter – December 2024 # 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

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

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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

Troutman Pepper Locke

Highlights from the CFPB’s Spring 2024 Semi-Annual Regulatory Agenda

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The Consumer Financial Protection Bureau (CFPB or Bureau) recently released its semi-annual regulatory agenda, outlining its planned rulemaking initiatives. The CFPB releases regulatory agendas twice a year in voluntary...more

Troutman Pepper Locke

A Look at Consumer Reporting in 2023, and What's to Come

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The legal landscape of consumer reporting continues to evolve with courts, federal regulators and state legislatures all playing roles in shaping this area of the law. Originally published in Law360 - January 9, 2024....more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 # 5

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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

Troutman Pepper Locke

Impending FCRA Data Broker Rulemaking Announced by CFPB Director Chopra at White House Data Broker Roundtable

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At a White House Roundtable on protecting Americans from allegedly harmful “data broker” practices, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the Bureau’s intention to expand the...more

Troutman Pepper Locke

Creditors and Employers Beware: CFPB Amends Model Background Check Form and Adverse Action Language

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The Consumer Financial Protection Bureau (CFPB or Bureau) issued a final rule updating, among other things, the model form for the Fair Credit Reporting Act (FCRA) Summary of Consumer Rights and information that must be...more

Troutman Pepper Locke

CPFB Issues Final Rule for Credit Reporting for Survivors of Human Trafficking

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On June 23, the Consumer Financial Protection Bureau (CFPB) issued a final rule, prohibiting consumer reporting agencies (CRAs) from reporting adverse information resulting from human trafficking on survivors’ credit reports....more

Holland & Knight LLP

FTC Approves 5 FCRA Rule Changes

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The Federal Trade Commission (FTC) issued a final rulemaking on Sept. 8, 2021, clarifying that five Fair Credit Reporting Act (FCRA) rules for which it retains rulemaking authority will apply only to motor vehicle dealers....more

Goodwin

FDIC Finalizes Brokered Deposits and ILC Rules Ahead of the Holidays

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In this Issue. The Federal Deposit Insurance Corporation (FDIC) was busy this week, finalizing rules that modernize brokered deposits regulations, establish new standards for parent companies of industrial loan companies and...more

Goodwin

ISS Publishes 2021 Proxy Voting Guidelines

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In the News. Institutional Shareholder Services (ISS) published its proxy voting guidelines updates for 2021, which include new and updated voting recommendations on federal forum and exclusive forum provisions in companies’...more

Ballard Spahr LLP

The CFPB’s final collections rule: meaningful attorney involvement safe harbor removed; debt sale restrictions modified

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Our blog post series has detailed a number of ways in which the CFPB’s final debt collection rule departs from last year’s NPRM. There are two additional topics approached very differently in the final rule: (1) the proposed...more

Ballard Spahr LLP

The CFPB’s final collections rule: impact on credit reporting

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This latest installment of our blog posts about the CFPB debt collection rule examines how the final rule will impact credit reporting....more

Goodwin

SEC Stays Busy With Amendments And Extensions To Various Rules, Definitions And Disclosures

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In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more

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