News & Analysis as of August 20, 2025

Payday Loans

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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +

CFPB Bites of the Month - April 2025 - "I'll Remember April and the CFPB"

Hudson Cook, LLP on 4/22/2025

In this month's article, we share some of our top "bites" covered during the April 2025 webinar....more

Federal jury convicts operator of payday lenders sued by CFPB and FTC

Ballard Spahr LLP on 11/21/2017

Richard Moseley Sr., the operator of a group of interrelated payday lenders, was convicted by a federal jury on all criminal counts in an indictment filed by the Department of Justice, including violating the Racketeer...more

More Companies Must Comply with the Gramm-Leach-Bliley Act, But Don’t Know It. Are You One of Them?

Dickinson Wright on 9/11/2017

When the topic of data privacy and cyber security comes up, most people automatically think of data breaches, especially given the high-profile nature of so many of them. Breaches and hacks are certainly an issue about which...more

California Supreme Court Declines to Extend Tribal Sovereign Immunity to Payday Lending Businesses

Orrick, Herrington & Sutcliffe LLP on 1/10/2017

On December 22, 2016, the California Supreme Court issued People ex rel. Owen v. Miami Nation Enterprises. The decision found that certain tribal business entities that provided loans in California are not "arms of the tribe"...more

CFPB Steps Up Oversight of Companies’ Compensation Programs Following Wells Fargo Scandal

Bilzin Sumberg on 12/5/2016

The Consumer Financial Protection Bureau (CFPB) will likely be weakened by the incoming Trump administration and its Republican allies in Congress. Exactly how, and how much, remains to be seen, however—and, in the meantime,...more

Election results portend significant changes for CFPB

Ballard Spahr LLP on 11/10/2016

As a result of Donald J. Trump’s election as President, coupled with the Democrats’ failure to wrest control of the House or Senate from the Republicans, the CFPB can be expected to undergo significant changes that are likely...more

CFPB Sends Clear Message That FinTech Start-Ups Have Same Obligations as Established Companies

Bradley Arant Boult Cummings LLP on 10/3/2016

In a clear message to FinTech start-ups, on September 27, 2016, the Consumer Financial Protection Bureau (CFPB) ordered online lender Flurish, Inc. to pay $1.83 million in refunds and a civil penalty of $1.8 million for...more

CashCall Case Brings More Uncertainty to the True Lender Debate

Troutman Pepper Locke on 9/14/2016

The case provides an outline of issues to consider and structures to avoid in designing bank collaboration models in the future. On August 31, in Consumer Financial Protection Bureau v. CashCall, Inc., the U.S....more

Prevailing in an Era of Regulatory Enforcement – Balancing Risk and Compliance [Expect Focus – Vol. II, July 2016]

Carlton Fields on 7/26/2016

IN THE SPOTLIGHT - - SEC Sanctions Unregistered EB-5 Investments Broker SECURITIES - - FINRA to Assess Member Firms’ Culture - SEC Seeks Fund Responses to Distribution-In-Guise Guidance ...more

CFPB Continues Scrutiny of Payday Loans in Recent Report and Proposed Rule

Carlton Fields on 7/19/2016

Online payday loans can result in an array of "steep, hidden costs" for borrowers, according to the latest payday loan report from the Consumer Financial Protection Bureau. The report precedes potential new regulatory...more

FTC Provides 2015 Enforcement Report to CFPB

Ballard Spahr LLP on 6/10/2016

The Federal Trade Commission (FTC) has provided its annual report to the Consumer Financial Protection Bureau (CFPB) covering the FTC’s enforcement activities in 2015 related to compliance with Regulation Z (Truth in...more

CFPB Proposed Rules Address Payday Loans and Impose New Customer Diligence Requirements

Cadwalader, Wickersham & Taft LLP on 6/9/2016

The Consumer Financial Protection Bureau (“CFPB”) last week announced long-awaited proposed rules governing payday loans and other high-cost credit products, including that lenders must take steps to ensure prospective...more

The New CFPB Payday Lending Rules: An Early Analysis

Orrick - Finance 20/20 on 6/8/2016

Last week the Consumer Finance Protection Bureau ("CFPB") released its long-awaited proposed rulemaking to regulate payday, auto title and certain high-cost installment loans ("covered loans"). The stated purpose of the...more

CFPB Identifies Hidden Costs and Fees Associated With Online Payday Loans

BakerHostetler on 4/22/2016

On April 20, 2016, the Consumer Financial Protection Bureau (CFPB) issued a report regarding online payday lenders’ efforts to debit payments from a borrower’s checking account. Based on an 18-month observation period, the...more

Flaws and All, CFPB's Arbitration Study Sparks Vigorous Debate over Next Steps in Regulating Mandatory Arbitration Clauses

Baker Donelson on 9/28/2015

As expected, the reaction to the Consumer Financial Protection Bureau's (CFPB) arbitration study report, released in March 2015, has been vociferous. All sides of this important debate are loudly proclaiming that their...more

CFPB Director Cordray Issues Warning to Bankers

Ballard Spahr LLP on 11/24/2014

Director Cordray’s remarks to the Clearing House Thursday should unsettle bankers and payday lenders alike. In his talk, Director Cordray challenged bankers to bow to the inevitable. He suggested that sooner, rather than...more

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