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Orrick, Herrington & Sutcliffe LLP

U.S. SDNY dismisses some claims and allows Bureau to file amended complaint in military lending case

Orrick, Herrington & Sutcliffe LLP on

On March 24, U.S. SDNY released its opinion and order granting dismissal, in part, with respect to counts two through five (and related claims under count six) in a case the CFPB brought against a loan company group (the...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Troutman Pepper Locke

Connecticut Issues Cease and Desist Against Lead Generator

Troutman Pepper Locke on

On May 4, the Connecticut Banking Commissioner issued a temporary order to cease and desist and order to make restitution against lead generator SoLo Funds Inc. (SoLo) for allegedly engaging in unfair, deceptive, and abusive...more

Bradley Arant Boult Cummings LLP

The Consumer Financial Protection Bureau Issues Statement Regarding Small Dollar Lending and Signals Return to Prior Policy

Bradley Arant Boult Cummings LLP on

On March 23, 2021, the CFPB issued a brief statement highlighting its position regarding “consumer harms in the small dollar lending market” and likely future action to reverse the previous CFPB administration’s policy...more

Bradley Arant Boult Cummings LLP

A Deeper Dive: The CFPB Short-Term Small- Dollar Lending Rule

Bradley Arant Boult Cummings LLP on

Introduction - By now you’ve likely heard that the Consumer Financial Protection Bureau (CFPB) has released a final small-dollar lending rule. The hallmark of the rule is the requirement That lenders make a reasonable...more

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