News & Analysis as of

Rulemaking Process Consumer Financial Protection Bureau (CFPB) Automotive Loans

Orrick, Herrington & Sutcliffe LLP

CFPB publishes four ANPRs seeking comment on the definitions of “larger participants” in specific supervised industries

On August 8, the CFPB published four advance notices of proposed rulemaking in the Federal Register seeking public comment to reconsider the test for defining larger participants in the consumer reporting, debt collection,...more

Wiley Rein LLP

Wiley Consumer Protection Download (February 12, 2025)

Wiley Rein LLP on

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

Sheppard Mullin Richter & Hampton LLP

Latest CFPB Supervisory Highlights Focus on Transparency in Debt Collection Practices

On July 2, the CFPB released its Summer 2024 Supervisory Highlights, which focused on the servicing and collection of consumer debt. The report shared key findings from recent supervisory examinations of auto and student loan...more

Ballard Spahr LLP

FTC requests comment on consumer advocate petition regarding auto “yo-yo financing”

Ballard Spahr LLP on

On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2022 applicable to the auto finance industry. So, what happened in 2022?...more

Goodwin

CFPB Overcomes Challenge to PayDay Lending Rule

Goodwin on

On August 31, 2021, the United States District Court for the Western District of Texas issued an opinion upholding the Consumer Financial Protection Bureau’s (CFPB) Rule regulating payday lending.  Community Financial...more

Sheppard Mullin Richter & Hampton LLP

FTC Approves Changes to FCRA Rules; Clarifies Application to Motor Vehicle Dealers

On September 8, the FTC approved final revisions that would bring several rules implementing parts of the Fair Credit Reporting Act (FCRA) in line with the Dodd-Frank Act, which transferred rulemaking authority related to...more

Bradley Arant Boult Cummings LLP

California’s Proposed “Mini-CFPB” May Increase Scrutiny of Auto Lenders and Other Industry Participants

Earlier this month, California Gov. Gavin Newsom revealed plans to create a state version of the federal Consumer Financial Protection Bureau (CFPB) as part of the state’s proposed 2020-2021 budget. According to the...more

Ballard Spahr LLP

Sen. Sherrod Brown Joins Consumer Groups in Applying Pressure to Encourage CFPB to Seek Lifting of Stay of the Compliance Date for...

Ballard Spahr LLP on

On August 14, 2019, Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) wrote a letter imploring Consumer Financial Protection Bureau Director Kathy Kraninger to implement the payments provisions of the 2017 Payday...more

Ballard Spahr LLP

Court continues stay of litigation and compliance date in trade group lawsuit challenging CFPB payday loan rule

Ballard Spahr LLP on

The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order on August 6 that once again...more

Ballard Spahr LLP

Parties file another status report in trade group lawsuit challenging CFPB payday loan rule

Ballard Spahr LLP on

The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the...more

Ballard Spahr LLP

Ballard Spahr critiques CFPB payday loan rule’s payment provisions

Ballard Spahr LLP on

Last month, Ballard Spahr submitted two letters to the CFPB, critiquing the payment provisions of the CFPB’s final payday/auto title/high-rate installment loan rule (the “Payment Provisions”). ...more

Ballard Spahr LLP

CFPB issues final rule delaying compliance date of payday loan rule ability-to-repay provisions; August 19 compliance date for...

Ballard Spahr LLP on

The CFPB has issued a final rule delaying the compliance date for the ability-to-repay (ATR) provisions in its final payday/auto title/high-rate installment loan rule (Payday Rule) for 15 months, until November 19, 2020....more

Ballard Spahr LLP

Texas federal court again continues stay of CFPB payday loan rule and stay of compliance date

Ballard Spahr LLP on

The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order yesterday that once again continues...more

Ballard Spahr LLP

State AGs threaten action against CFPB for delaying compliance date for payday loan rule

Ballard Spahr LLP on

A group of 24 Democratic state attorneys general and the D.C. attorney general have submitted a comment letter to the CFPB setting forth their opposition to the CFPB’s proposal to delay the compliance date for the...more

Ballard Spahr LLP

Texas federal court continues stay of trade groups’ lawsuit challenging CFPB payday loan rule and stay of compliance date

Ballard Spahr LLP on

The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule)...more

Ballard Spahr LLP

CFPB does not seek lifting of stay of compliance date for payday loan rule’s payment provisions in new status report filed in...

Ballard Spahr LLP on

The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the...more

Ballard Spahr LLP

Parties file status report in trade group lawsuit challenging CFPB payday loan rule

Ballard Spahr LLP on

The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a status report with the...more

Ballard Spahr LLP

CFPB proposals to revise payday loan rule and delay compliance date published in Federal Register

Ballard Spahr LLP on

The CFPB’s proposal to revise its final payday/auto title/high-rate installment loan rule to rescind the rule’s ability-to-repay (ATR) provisions in their entirety and its proposal to delay the compliance date for the ATR...more

Ballard Spahr LLP

CFPB Proposes Revisions to Final Payday/Auto Title/High-Rate Installment Loan Rule

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has issued highly anticipated proposed revisions to its final payday/auto title/high-rate installment loan rule that would rescind the rule's ability-to-repay provisions—which...more

Ballard Spahr LLP

CFPB proposes revisions to final payday/auto title/high-rate installment loan rule

Ballard Spahr LLP on

The CFPB has issued highly-anticipated proposed revisions to its final payday/auto title/high-rate installment loan rule (Rule) that would rescind the Rule’s ability-to-repay provisions in their entirety (which the CFPB...more

Ballard Spahr LLP

Court stays CFPB payday loan rule compliance date

Ballard Spahr LLP on

This week, the court reversed course in the lawsuit filed by two industry trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule). ...more

Ballard Spahr LLP

CFPB Fall 2018 rulemaking agenda confirms plans to consider rulemaking on “abusiveness” standard

Ballard Spahr LLP on

The CFPB’s Fall 2018 rulemaking agenda has been published by the Office of Information and Regulatory Affairs (OIRA) as part of its Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions.  (OIRA is part of...more

Ballard Spahr LLP

A third bite at the apple: trade groups file lawsuit challenging CFPB payday loan rule

Ballard Spahr LLP on

Two trade groups, the Consumer Financial Service Association of America, Ltd. and the Consumer Service Alliance of Texas, have filed a lawsuit against the CFPB in a Texas federal district court challenging the CFPB’s final...more

Ballard Spahr LLP

Mulvaney outlines new CFPB governing philosophy

Ballard Spahr LLP on

Mick Mulvaney, President Trump’s appointee as CFPB Acting Director, plans to make the CFPB’s practices of “pushing the envelope” and “rulemaking by enforcement” things of the past. ...more

27 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide