Popular, Consumer Financial Protection Act (CFPA), Financial Services Industry

AI in the Financial Services Industry

Ballard Spahr LLP on 8/19/2025

The recent American Association of Residential Mortgage Regulators Annual Conference included a presentation highlighting the rising use of Artificial Intelligence (“AI”) in the Financial Services industry. As this will...more

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

Troutman Pepper Locke on 5/12/2025

The Consumer Financial Protection Bureau (CFPB or Bureau) announced the withdrawal of 67 regulatory guidance documents, including interpretive rules, policy statements, and advisory opinions that have been issued since the...more

Navigating the New Consumer Financial Services Landscape: Enforcement, Compliance, and Litigation Risks

Venable LLP on 3/13/2025

Financial services companies may feel relief from the aggressive federal oversight and regulation that defined the past decade. However, regulatory risk has not disappeared—it has shifted. ...more

Dashing Through Cybersecurity Regulations in the Financial Services Sector in 2024

Ropes & Gray LLP on 12/12/2024

Throughout 2024, financial sector regulators sharpened their focus on data protection and cybersecurity issues impacting financial institutions and the public. Key federal agencies like the Securities and Exchange Commission...more

CFPB Enters Into $95 Million Consent Order with Credit Union to Resolve Allegations of Improper Overdraft Fee Practices

Goodwin on 11/25/2024

On November 7, 2024, the CFPB announced that it had entered into a consent order with a major credit union resolving allegations that the credit union improperly assessed overdraft fees against consumers. The credit...more

Opportunity Knocks – Litigating Financial Regulation in a Second Trump Administration

Davis Wright Tremaine LLP on 11/20/2024

During the Biden-Harris Administration, the relationship between financial institutions and their regulators chilled considerably. The financial services industry works daily with its regulators—especially through the...more

CFPB Issues Final Rule on Personal Financial Data Rights

Morgan Lewis - All Things FinReg on 10/29/2024

Almost exactly a year after issuing a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data rights, on October 22, 2024 the Consumer Financial Protection Bureau (CFPB) issued its final Rule under Section 1033 of the...more

Consumer Finance Monitor Podcast Episode: A Close Look at the Consumer Financial Protection Bureau’s Proposal to Supervise Large...

Ballard Spahr LLP on 5/9/2024

Our special guest is Brian Johnson, Managing Director of Patomak Global Partners and former CFPB Deputy Director. In Nov. 2023, the CFPB issued a proposed rule to supervise nonbank companies that qualify as larger...more

2023 Year in Review: Credit, Debit, or Prepaid Cards and Consumer Banking

Goodwin on 2/15/2024

Welcome to the Credit, Debit, or Prepaid Cards and Consumer Banking chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - We expect continued focus by the CFPB on “junk”...more

CFPB Continues War on Fees, Even Rare Ones

Troutman Pepper Locke on 1/29/2024

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule with request for public comment to prohibit covered financial institutions from charging nonsufficient funds fees (NSF) for payment...more

Townstone Mortgage files brief with Seventh Circuit in CFPB appeal from district court ruling that ECOA only applies to applicants

Ballard Spahr LLP on 8/23/2023

Townstone Mortgage (Townstone) has filed its brief in the CFPB’s appeal to the U.S. Court of Appeals for the Seventh Circuit from the district court’s decision in the CFPB’s enforcement action against Townstone. In the...more

CFPB and OCC announce consent orders with Bank of America involving deposit account representment fees and credit cards

Ballard Spahr LLP on 7/13/2023

The CFPB and the OCC announced that they have each entered into a consent order with Bank of America, N.A. for alleged violations arising from the Bank’s representment fee practices (“Fee Consent Orders”). The CFPB also...more

CFPB Appeals District Court’s Dismissal of Nonbank Redlining Action

Goodwin on 4/26/2023

On April 3, 2023, the Consumer Financial Protection Bureau (CFPB) filed a notice to appeal a district court’s decision to dismiss its complaint against Townstone Finance, Inc. (Townstone), a nonbank mortgage lender, and its...more

CFPB Issues Policy Statement on CFPA’s Prohibition on ‘Abusive’ Conduct

Cooley LLP on 4/12/2023

On April 3, 2023, the Consumer Financial Protection Bureau released a policy statement articulating a new framework for analyzing conduct that it considers “abusive” in violation of federal law. The CFPB until now has...more

CFPB Targets Convenience Fees

Cooley LLP on 7/11/2022

On June 29, 2022, the Consumer Financial Protection Bureau issued an advisory opinion declaring that the Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from collecting “pay-to-pay” or convenience fees...more

Wiley Consumer Protection Download (January 24, 2022)

Wiley Rein LLP on 1/25/2022

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

CFPB Summer 2019 Supervisory Highlights looks at GAP products, credit card practices, debt collection, furnishing to consumer...

Ballard Spahr LLP on 9/23/2019

The CFPB has released the Summer 2019 edition of its Supervisory Highlights. The report discusses the Bureau’s examination findings in the areas of automobile loan originations, credit card account management, debt...more

Court grants CFPB’s request for entry of Rule 54(b) judgment in RD Legal Funding case to allow appeal of constitutionality ruling

Ballard Spahr LLP on 8/28/2018

Judge Preska has entered an order granting the CFPB’s request for entry of a Rule 54(b) judgment to allow the CFPB to appeal her June 21 constitutionality ruling to the Second Circuit....more

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