Popular, ECOA, Consumer Financial Products

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025 # 4

Troutman Pepper Locke on 6/25/2025

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

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025 # 3

Troutman Pepper Locke on 6/18/2025

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

Troutman Pepper Weekly Consumer Financial Services Newsletter - November 2024 # 2

Troutman Pepper Locke on 11/13/2024

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

Consumer Finance Monitor Podcast Episode: State Fair Access and Debanking Laws Bring Country’s Political and Cultural Divisions to...

Ballard Spahr LLP on 10/31/2024

Our podcast listeners are very familiar with federal fair lending and anti-discrimination laws that apply in the consumer lending area: the Equal Credit Opportunity Act (ECOA) and Fair Housing Act (FHA). Those statutes...more

A Closer Look at NCUA’s Consumer Financial Protection and Compliance Expectations

Troutman Pepper Locke on 2/7/2024

As discussed, in a recent letter, the Chairman of the National Credit Union Administration (NCUA) outlined the agency’s supervisory priorities for 2024. In this post, we delve deeper into the area of consumer protection...more

CFPB Bites of the Month - October 2023 - Bewitching the CFPB

Hudson Cook, LLP on 10/23/2023

In this month's article, we share some of our top "bites" for the prior month covered during the October 2023 webinar. Bite 10: New Report on NSF Fees at Banks and Credit Unions On October 11, 2023, the CFPB issued a data...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 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 v. Townstone Financial - Federal Court Limits Equal Credit Opportunity Act Claims to Lending “Applicants” Only

Saul Ewing LLP on 2/10/2023

In Bureau of Consumer Financial Protection v. Townstone Financial, Inc., the Consumer Financial Protection Bureau (“CFPB”) brought suit against Townstone, a mortgage broker/lender, and its co-founder and chief executive,...more

Does Your Current Use of AI in Financial Services Align with the U.S. “AI Bill of Rights”?

BCLP on 2/10/2023

As OpenAI’s release of ChatGPT in late 2022 and expected release of GPT-4 in 2023 continues to garner widespread attention, there is renewed focus on both opportunities and risks presented by the use of artificial...more

CFPB Warns Digital Marketers, Loops In State AGs

Jenner & Block on 9/22/2022

In a recent interpretive rule announced on August 10, 2022,—and unveiled at a summit of the National Association of Attorneys General—the CFPB stated that digital marketers are subject to the CFPB’s jurisdiction, and...more

CFPB Issues No Action Letter Related to Use of Artificial Intelligence Underwriting Model

Goodwin on 12/3/2020

On November 30, 2020, the Consumer Financial Protection Bureau (CFPB) granted a no-action letter to an online loan marketplace company for its artificial intelligence (AI) loan origination and underwriting platform. ...more

CFPB gives boost to use of alternative data and machine learning

Ballard Spahr LLP on 8/8/2019

A new CFPB blog post titled “An update on credit access and the Bureau’s first No-Action Letter” provides a boost to lenders using alternative data and machine learning in their underwriting models....more

CFPB and DOJ Settle Fair Lending Claims Involving Allegations of Redlining, Discretionary Underwriting and Pricing, and Overt...

Ballard Spahr LLP on 7/11/2016

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the...more

Regulators Raise Marketplace Lending Concerns at FTC FinTech Forum

Ballard Spahr LLP on 6/21/2016

The Federal Trade Commission (FTC) recently held a FinTech forum addressing marketplace lending. The forum was promoted by the FTC as the first in a series it plans to hold exploring emerging financial technology and its...more

CFPB Releases Spring 2016 Rulemaking Agenda

Ballard Spahr LLP on 5/27/2016

The Consumer Financial Protection Bureau (CFPB) has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not...more

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