Consumer Finance Monitor Podcast Episode: How the CFPB Is Using Interpretive Rules to Expand Regulatory Requirements for Innovative Consumer Financial Products; Part Two: Earned Wage Access
Earned Wage Access: Exploring the CFPB's Proposed Interpretive Rule — Payments Pros – The Payments Law Podcast
Understanding the CFPB's Payday Loan Rule: Implications and Compliance — Payments Pros – The Payments Law Podcast
Understanding the CFPB's Payday Loan Rule: Implications and Compliance — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: A Close Look at the Recent Study of the Effects of Illinois' 36% “All-In” Interest Rate Cap on Small-Dollar Credit Availability, with Special Guest Tom Miller
Fifth Circuit Rules that the Consumer Financial Protection Bureau is Unconstitutionally Funded: What Does the Decision Mean? A Deep Dive with Special Guest Isaac Boltansky, BTIG
The Consumer Financial Protection Bureau (CFPB) continues to redefine its priorities, and among the many policies targeted for change, the “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders”...more
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
On January 10, the Alaska Legislature introduced Senate Bill 39 that aims to amend the state’s Small Loan Act. This proposed legislation seeks to implement significant changes, including the introduction of a predominant...more
One of the primary challenges with working in the U.S. financial services space is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory...more
On November 25, the U.S. Court of Appeals for the Fifth Circuit granted motions for clarification from both the appellants and the appellees to specify that the court’s stay will be lifted on March 30, 2025, for the CFPB’s...more
The Attorney General for the District of Columbia has filed suit against ActiveHours Inc., doing business as EarnIn, alleging that the app-based lender deceptively marketed and provided illegal high-interest loans to more...more
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
A panel of the Fifth Circuit Court of Appeals has set March 30, 2025 as the effective date of the CFPB’s payday lending rule....more
On November 18, the plaintiff trade groups in Community Financial Services Association of America, Ltd.(CFSA) v. Consumer Financial Protection Bureau (CFPB) filed an Opposed Motion for Clarification of Stay Pending Appeal...more
On November 12, the U.S. Court of Appeals for the Fifth Circuit denied a petition for rehearing en banc in CFSA v. CFPB. As previously covered by InfoBytes, the U.S. Supreme Court previously overturned the Fifth Circuit’s...more
The Fifth Circuit Court of Appeals has denied a request by the Community Financial Services Association of America (CFSA) to hold a rehearing en banc on the group’s challenge of the CFPB’s payday loan rule....more
On November 12, the U.S. Court of Appeals for the Fifth Circuit denied a request from Community Financial Services Association of America (CFSA) and the Consumer Services Alliance of Texas to reopen their legal challenge...more
The California Department of Financial Protection and Innovation (DFPI) is inviting stakeholders to suggest new financial service industries that may need registration and reporting requirements under the California Consumer...more
On October 18, a fintech trade group filed a complaint in a D.C. federal court challenging the CFPB’s interpretive rule on Buy Now, Pay Later (BNPL) products. The rule, released last May, treats BNPL providers as credit card...more
Today’s podcast, which repurposes a recent webinar, is the conclusion of a two-part examination of the CFPB’s use of a proposed interpretive rule, rather than a legislative rule, to expand regulatory requirements for earned...more
On September 18, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a set of frequently asked questions (FAQs) providing guidance on applying Regulation Z requirements to Pay-in-Four Buy Now, Pay Later (BNPL)...more
Paycheck advance products that are deemed consumer loans under the CFPB’s new proposal would be subject to increased disclosure and regulatory protections....more
A proposed class action lawsuit has been filed in the U.S. District Court for the Northern District of California against EarnIn, a FinTech provider of Earned Wage Access services, alleging that its optional fees and tips...more
In this special crossover episode of Payments Pros and The Consumer Finance Podcast, Carlin McCrory, Keith Barnett, and Chris Willis are joined by Jason Cover and Mark Furletti to discuss the Consumer Financial Protection...more
The plaintiffs challenging the CFPB payday lending rule should not be entitled to an en banc rehearing because the issues they cite already have become final and the time for rehearing has lapsed, the CFPB said last week...more
In this special crossover episode of the Payments Pros Podcast and The Consumer Finance Podcast, Josh McBeain and Chris Willis are joined by colleagues Mark Furletti and Jason Cover to delve into the CFPB's Payday Loan Rule,...more
FirstCash, a national pawnshop chain, is asking a federal judge to confirm that it has a statutory defense to all of the CFPB’s claims that it violated the Military Lending Act (MLA) while also asking the judge to drop three...more
In this special crossover episode of The Consumer Finance Podcast and the Payments Pros Podcast, Chris Willis and Josh McBeain are joined by colleagues Mark Furletti and Jason Cover to delve into the CFPB's Payday Loan Rule,...more
Since 2022, the Consumer Financial Protection Bureau (CFPB) has a stated priority of “protecting employees and their rights through conducting reports, inquiries, and issuing requirements for employers.” In July 2024, the...more
On July 18, 2024, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) proposed an interpretive rule that states (1) EWA products fall under the definition of “credit” under the Truth in Lending Act (“TILA”) and...more