News & Analysis as of

State Attorneys General Fair Credit Reporting Act (FCRA)

Wiley Rein LLP

Wiley Consumer Protection Download (July 29, 2025)

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FTC Obtains Temporary Restraining Order and Asset Freeze Against Seven Debt Relief Companies and Their Owners for Allegedly Deceptive Practices. On July 14, the FTC filed a complaint and motion for temporary restraining order...more

Ballard Spahr LLP

House Financial Services Committee approves ‘trigger leads’ bill

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The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry. ...more

Troutman Pepper Locke

Regulatory Rollback: Inside the CFPB’s FCRA Guidance Withdrawal — The Consumer Finance Podcast

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In this special crossover episode between FCRA Focus and The Consumer Finance Podcast, Kim Phan, Dave Gettings, Chris Willis, and Cindy Hanson explore the recent withdrawal of Consumer Financial Protection Bureau (CFPB)...more

Troutman Pepper Locke

Regulatory Rollback: Inside the CFPB's FCRA Guidance Withdrawal — FCRA Focus Podcast

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In this special crossover episode between FCRA Focus and The Consumer Finance Podcast, Kim Phan, Dave Gettings, Chris Willis, and Cindy Hanson explore the recent withdrawal of Consumer Financial Protection Bureau (CFPB)...more

Wiley Rein LLP

Wiley Consumer Protection Download (May 21, 2025)

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Wiley also has launched a Trump Administration Resource Center and Resource Guide to track Executive branch priorities during the second Administration of President Trump. With Wiley’s deep-rooted understanding of Washington...more

Hudson Cook, LLP

Regulatory Reversal: CFPB's Withdrawal of Interpretive Guidance and Its Impact on the Rental Screening Industry

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On May 9, 2025, the Consumer Financial Protection Bureau (CFPB) formally withdrew dozens of interpretive rules, policy statements, advisory opinions, bulletins, and circulars issued over the past decade....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 2

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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

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void - Part...

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The podcast we are releasing today is part 1 of a re-purposed webinar we produced on March 25 titled “The Impact of the Election on the CFPB - Part 4.” As a result of the diminishing impact of the CFPB on enforcing the...more

Venable LLP

CFPB Narrows Supervision and Enforcement, Leaving Broader Focus to States

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The CFPB confirmed in a recent memo to staff that it is shifting its tone on supervision and enforcement—even as reports circulate about significant staffing cuts and potential structural changes at the agency. ...more

Goodwin

2024 Year in Review: Payday and Small-Dollar Lending

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Welcome to the “Payday and Small-Dollar Lending” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. We expect the level of enforcement and regulatory activity in the payday and short-term...more

Venable LLP

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

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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

Venable LLP

A Primer on State Consumer Financial Regulation: What Businesses Need to Know Now

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The landscape of consumer financial services is shifting, driven by a broader deregulatory trend at the federal level. In this environment, companies must still address federal consumer financial law compliance and navigate a...more

Holland & Knight LLP

CFPB Grinds to a Halt: Impacts on Industry

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U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more

Katten Muchin Rosenman LLP

CFPB Proposes a New Rule Prohibiting Certain Contractual Terms for Consumer Financial Products

On January 13, the Consumer Finance Protection Bureau (CFPB) published a new proposed rule attempting to ban certain contractual provisions in "take it or leave it" consumer contracts that purport to "waive substantive...more

Goodwin

New York Attorney General Reaches $725,000 Settlement with Credit Reporting Provider to Resolve Allegations of Inaccurate Credit...

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On January 14, 2025, New York Attorney General Letitia James announced that the state had entered into a settlement​ with a national credit reporting provider​ to resolve allegations that the provider had ​harmed consumers by...more

Cozen O'Connor

The State AG Report – 01.09.2025

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •Maryland’s Lawsuit Adds to Growing Wave of PFAS Litigation...more

Cozen O'Connor

CFPB Finalizes Rule to Limit Impact of Medical Debt on Credit Reporting

Cozen O'Connor on

The CFPB has finalized a rule amending regulations under the Fair Credit Reporting Act to address the use and reporting of medical information in credit decisions. The Prohibition on Creditors and Consumer Reporting Agencies...more

Cozen O'Connor

Technology and Data at the Forefront of 2024 NAAG Capital Forum

Cozen O'Connor on

Between December 9 and 11, 2024, the National Association of Attorneys General (NAAG) held its annual Capital Forum in Washington, D.C. State AGs, AGs-elect, AG office staff, and private sector attendees heard from federal...more

Cozen O'Connor

CFPB Urges States to Act on Consumer Financial Data Protection

Cozen O'Connor on

The CFPB issued a report on State Consumer Privacy Laws and the Monetization of Consumer Financial Data, which examines existing privacy protections for consumers’ financial data under federal and state laws....more

Cozen O'Connor

CFPB Warns Employers That Use of Third-Party Consumer Reports Must Be Fair

Cozen O'Connor on

The CFPB issued guidance regarding “Background Dossiers and Algorithmic Scores for Hiring, Promotion, and Other Employment Decisions.” In the guidance, the CFPB warns that, like credit reports used by lenders to make lending...more

Cozen O'Connor

CFPB Settles With Navient Over Allegedly Deceptive Student Loans

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The CFPB settled with student loan servicer Navient Corporation and related entities (collectively, “Navient”) to resolve allegations that its unfair and deceptive service of student loans violated the Consumer Financial...more

Cozen O'Connor

CFPB Emphasizes that AI is not Above the Law

Cozen O'Connor on

The CFPB issued guidance for lenders on the use of artificial intelligence (AI) when determining whether or not to extend credit to consumers. The guidance clarifies that creditors relying on AI or other complex credit...more

Troutman Pepper Locke

CFPB's Rulemaking Under the FCRA (Part 3) – Crossover Episode With The Consumer Finance Podcast

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Join us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more

Cozen O'Connor

The State AG Report – 9.14.2023

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • Minnesota AG Investigates Student Loan Debt Relief...more

Latham & Watkins LLP

Employee Data Increasingly in the Crosshairs of Data Privacy Enforcement

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The California Attorney General’s investigative sweep is a potential harbinger of increased focus on employers’ data privacy compliance with respect to employee data. On July 14, 2023, the California Attorney General...more

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