News & Analysis as of

Loans Consumer Financial Protection Bureau (CFPB) Financial Services Industry

Guidepost Solutions LLC

High-Risk Enforcement Areas for Financial Services Providers: AI, Lending, and Privacy

Did you know that U.S. federal regulators issued approximately 173 public enforcement actions against financial services providers in 2024? Over 35% of those enforcement actions resulted in some form of monetary penalty,...more

Ballard Spahr LLP

Community Groups File Lawsuit Seeking to Force CFPB to Implement the Section 1071 Rule

Ballard Spahr LLP on

The saga of the CFPB’s section 1071 small business data collection and reporting rule continues. Rise Economy, fka California Reinvestment Coalition (Rise), the National Reinvestment Coalition (NCRC), the Main Street Alliance...more

Ballard Spahr LLP

CFPB reaches settlement with FirstCash in connection with alleged MLA Violations

Ballard Spahr LLP on

The CFPB has reached a settlement in its lawsuit against FirstCash, Inc. and its 19 subsidiaries alleging violations of the Military Lending Act (MLA). The parties have jointly filed a stipulated final judgment and proposed...more

Sheppard Mullin Richter & Hampton LLP

CFPB Orders Pawn Lender to Pay $9 Million for Alleged Military Lending Act Violations

On July 11, 2025, the Consumer Financial Protection Bureau (CFPB) announced a proposed $9 million settlement resolving its November 2021 lawsuit against a national pawn lender and its subsidiaries. The company and its...more

Hudson Cook, LLP

Does the Recent Earned Wage Access Law Change the Regulatory Environment in Arkansas?

Hudson Cook, LLP on

The Arkansas legislature recently passed House Bill 1517, which creates an earned wage access law in the state. It will be one of the relatively few such laws in the country. One interesting question is whether the law...more

Troutman Pepper Locke

Point-of-Sale Finance Series: The Great Debate of Loans vs. Credit Sales — The Consumer Finance Podcast

Troutman Pepper Locke on

In this crossover episode of The Consumer Finance Podcast and Payments Pros, Chris Willis, Jason Cover, and Taylor Gess unravel the often-confused distinctions between loans and credit sales in the first installment of our...more

Troutman Pepper Locke

CFPB Shifts Focus Away from Buy Now, Pay Later Loans

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) announced a significant shift in its enforcement priorities, choosing not to prioritize actions related to Buy Now, Pay Later (BNPL) loans under the Truth in Lending...more

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit denies rehearing of lending company’s restitution challenge

On April 24, the U.S. Court of Appeals for the Ninth Circuit denied a loan company’s petition for rehearing and or rehearing en banc. The lender contested that the $134 million legal restitution it was mandated to pay to the...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Everything You Want to Know About the CFPB as Things Stand Today, and Lots More - Part 1

Ballard Spahr LLP on

Our podcast show being released today is Part 1 of a repurposed interactive webinar that we presented on March 24, featuring two of the leading journalists who cover the CFPB - Jon Hill from Law360 and Evan Weinberger from...more

Sheppard Mullin Richter & Hampton LLP

CFPB Plans Limited Enforcement of Payday Lending Rule

On March 28, the CFPB announced that it will not prioritize enforcement or supervision of the remaining provisions of its Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, which were set to take...more

Morrison & Foerster LLP

MoForecast: State AGs and Consumer Financial Protection: Anticipating Shifts in Enforcement Focus

As the Consumer Financial Protection Bureau (CFPB) faces uncertainty, state attorneys general (state AGs) are poised to fill the enforcement gap in consumer financial protection. With the CFPB’s future in question, state AGs...more

Ballard Spahr LLP

Republicans renew efforts to repeal Section 1071

Ballard Spahr LLP on

Republicans on Capitol Hill are seeking to repeal a section of the Dodd-Frank Act that requires financial institutions to report information contained in loan applications submitted by women-owned, minority-owned and...more

Troutman Pepper Locke

CFPB Releases Report Highlighting Auto Lending Challenges for Servicemembers

Troutman Pepper Locke on

On January 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report analyzing the auto lending market’s impact on servicemembers. ...more

Orrick, Herrington & Sutcliffe LLP

CFPB highlights challenges faced by social security recipients carrying student loan debt

On January 8, the CFPB published an Issue Spotlight describing the challenges faced by student loan borrowers affected by the forced collection of Social Security benefits due to defaulted federal student loans. After a...more

Orrick, Herrington & Sutcliffe LLP

CFPB reports on consumer use of BNPL loan products, calls for further research into BNPL’s impact on consumers’ financial health

On January 13, the CFPB published a report analyzing consumers’ use of Buy Now, Pay Later (BNPL) loan products. This latest report builds on previous CFPB work related to BNPL lending by pairing a matched sample of BNPL...more

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit upholds CFPB’s restitution order against lending company, affirming waiver of jury trial rights

On January 3, the U.S. Court of Appeals for the Ninth Circuit published an opinion in a case involving a consumer lending company’s appeal of the district court’s order to pay more than $134 million in legal restitution,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Report Highlights Widespread Violations in Student Loan Sector

On December 16, the CFPB released a special edition of its Supervisory Highlights, which detailed findings from the Bureau’s recent examinations of student loan markets. The report identifies a range of violations related to...more

Ballard Spahr LLP

DOJ and CFPB Remind Institutions of Rate Protections for Servicemembers

Ballard Spahr LLP on

The Servicemember Civil Relief Act limits the amount of interest that may be charged on certain financial obligations that were incurred before military service began to no more than 6% percent per year, including most fees...more

Troutman Pepper Locke

CFPB Releases Supervisory Highlights Focusing on Student Loan Practices

Troutman Pepper Locke on

On December 16, the Consumer Financial Protection Bureau (CFPB or Bureau) released a special edition of its Supervisory Highlights, detailing a range of activities identified by CFPB examiners across the student loan...more

Ballard Spahr LLP

CFPB issues final rule amending Regulation Z CARD Act, HOEPA and QM dollar amounts

Ballard Spahr LLP on

The CFPB has issued a final rule regarding various annual adjustments it is required to make under provisions of Regulation Z under the Truth in Lending Act (TILA) that implement the CARD Act, Home Ownership and Equity...more

Ballard Spahr LLP

Pawnshop chain cannot use ‘bona-fide error defense’ in MLA suit filed by CFPB

Ballard Spahr LLP on

FirstCash, a national pawnshop chain, cannot use the “bona-fide error defense” in its defense of a Military Lending Act (MLA) suit filed by the CFPB against the company, a federal judge has ruled in a case of first...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2024 # 3

Troutman Pepper Locke on

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

Orrick, Herrington & Sutcliffe LLP

Agencies release annual adjustments to thresholds in TILA regulations, smaller loan exemption

On October 4, the CFPB and the Fed announced adjusted dollar thresholds for 2025 that determine whether certain consumer credit and lease transactions are subject to protections under TILA Regulation Z and Consumer Leasing...more

Troutman Pepper Locke

CFPB’s Fall Edition of Supervisory Highlights Focuses on Auto-Finance Market

Troutman Pepper Locke on

On October 7, the Consumer Financial Protection Bureau (CFPB or Bureau) published the Fall edition of its Supervisory Highlights, focusing on examinations of the auto-finance market completed between November 1, 2023, and...more

Troutman Pepper Locke

CFPB Report Highlights Challenges Facing Servicemembers and Veterans, Including Student Loans and Money Transfer/Virtual Currency...

Troutman Pepper Locke on

Yesterday, the Consumer Financial Protection Bureau (CFPB or Burau) released its annual report detailing the financial challenges faced by servicemembers, veterans, and military families. In 2023, this group submitted nearly...more

123 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide