News & Analysis as of August 16, 2025

Financial Services Industry

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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 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

CFPB Issues Final Rule Limiting Overdraft Fees at Large Banks, Treats Overdraft as Credit

Cooley LLP on 12/23/2024

On December 12, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule that treats covered overdraft services offered by banks with more than $10 billion in assets (large banks) as credit, bringing them for...more

CFPB Issues Guidance Emphasizing the Importance for Banks to Maintain Sufficient Proof of Customers’ Affirmative Consent to...

Goodwin on 10/7/2024

In recent discussions surrounding banking practices, the issue of overdraft fees, particularly for ATM and one-time debit card transactions, has gained significant attention....more

CFPB warns against collecting on overdraft services without explicit consumer consent

Orrick, Herrington & Sutcliffe LLP on 9/25/2024

On September 17, the CFPB published a circular clarifying that banks and credit unions can violate the EFTA and Regulation E if they cannot prove that consumers agreed to be enrolled in overdraft services before being charged...more

CFPB Brings String of Enforcement Actions to Round Out 2023

Sheppard Mullin Richter & Hampton LLP on 1/29/2024

In December, the CFPB brought a series of three separate enforcement actions against several financial services companies alleging a range of violations of federal consumer protections laws....more

CFPB Exposes Illegal Practices in Consumer Financial Services: What to Know

Shipkevich PLLC on 7/27/2023

On July 26, 2023, the Consumer Financial Protection Bureau (“CFPB”) published its periodic Supervisory Highlights, summer edition. These most recent Supervisory Highlights shed light on a range of unfair, deceptive, and...more

Wiley Consumer Protection Download (June 21, 2022)

Wiley Rein LLP on 6/22/2022

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

FTC Provides Annual Enforcement Report To CFPB

Ballard Spahr LLP on 6/18/2020

The Federal Trade Commission recently provided its annual letter to the CFPB concerning its enforcement activities relating to compliance with Regulation Z (Truth in Lending Act), Regulation M (Consumer Leasing Act), and...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

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