News & Analysis as of

Lenders Fair Credit Reporting Act (FCRA) Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

Senate passes bill to amend the FCRA

On June 12, the U.S. Senate passed S. 1467, the Homebuyers Privacy Protection Act, which would amend Section 604(c) of the FCRA by adding new limitations on prescreening reports....more

Troutman Pepper Locke

Second Circuit Explains Reasonable Investigation Standard in Identity Theft Case Under FCRA

Troutman Pepper Locke on

In a recent decision, the U.S. Court of Appeals for the Second Circuit clarified the expectations for furnishers when investigating consumer disputes under the Fair Credit Reporting Act (FCRA). In Suluki v. Credit One Bank,...more

Troutman Pepper Locke

The Next FCRA Frontier: Identity Theft and CFPB Updates — FCRA Focus Podcast

Troutman Pepper Locke on

In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings bring you the latest updates from the regulatory and litigation sides of the house. Dave shares his insights on the challenges and litigation surrounding...more

Ballard Spahr LLP

Legislation to prohibit ‘trigger leads’ in mortgage industry reintroduced in House, Senate

Ballard Spahr LLP on

Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate....more

Cooley LLP

CFPB Finalizes Rule Curbing Use and Reporting of Medical Debt

Cooley LLP on

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

Ballard Spahr LLP

Chopra Defends CFPB’s Medical Debt Proposed Rule

Ballard Spahr LLP on

CFPB Director Rohit Chopra on Thursday defended his agency’s proposed rule to prohibit the listing of medical debt on credit reports, contending that such debts are not a fair indication of a person’s financial health....more

Ballard Spahr LLP

CFPB alleges dark patterns in suit against fintech peer-to-peer lender

Ballard Spahr LLP on

On May 17, 2024, the Consumer Financial Protection Bureau (“CFPB”) filed suit against an online lending platform, alleging, among other things, the use of dark patterns to induce consumers to pay tips and donations,...more

Orrick, Herrington & Sutcliffe LLP

District Court: Plaintiff has standing but still dismisses FCRA case

On January 19, the U.S. District Court for the District of New Jersey granted a bank’s motion to dismiss an FCRA case. According to the opinion, after plaintiff’s credit report revealed monthly payments towards previously...more

Troutman Pepper Locke

9 Consumer Finance Issues to Note From CFPB Report

Troutman Pepper Locke on

In July, the Consumer Financial Protection Bureau published a report highlighting various unfair, deceptive, and abusive acts or practices it claims to have uncovered during its supervisory examinations from July 2022 to...more

Burr & Forman

Eleventh Circuit Emphasizes Consumer’s Burden of Establishing Lender’s Unreasonability to Sustain Willfulness Claim Under the FCRA

Burr & Forman on

On July 6, 2021, the Eleventh Circuit issued a per curiam opinion affirming the Southern District of Alabama’s entry of summary judgment in the lender’s favor on a plaintiff’s claim under the Fair Credit Reporting Act...more

Troutman Pepper Locke

2020 Consumer Financial Services Year in Review & A Look Ahead

Troutman Pepper Locke on

2020 was a transformative year for the consumer financial services world. As we navigate an unprecedented volume of industry regulation, Troutman Pepper is uniquely positioned to help its clients find successful resolutions...more

Goodwin

SEC Finalizes Reforms Under Investment Advisers Act

Goodwin on

In this Issue. The Securities and Exchange Commission (SEC) finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors, and published a risk...more

Goodwin

ISS Publishes 2021 Proxy Voting Guidelines

Goodwin on

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

Womble Bond Dickinson

RECAP: Changes to the Fair Credit Reporting Act in the Wake of the Unprecedented COVID-19 Pandemic

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With over 22 million Americans currently out of work, the COVID-19 pandemic has proven to be both a global health crisis and a period of economic instability. Over the past few weeks, a number of new regulations have been...more

Carlton Fields

Financial Services Update: Week Ending September 6, 2019

Carlton Fields on

Financial Services Update - TCPA / ATDS: lender's dialer equipment not an ATDS because it is not capable of generating and dialing random or sequential numbers - Brown v. Ocwen Loan Serv. LLC, No. 8:18-cv-136-T-60AEP (M.D....more

BakerHostetler

Financial Services 2017 Year-End Report

BakerHostetler on

Welcome to the 2017 Year-End Report from our financial services industry team. We are pleased to share our analysis of some of the key developments in the financial services industry in 2017 and our expectations for 2018. ...more

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