Podcast - FTC to Focus on Deceptive AI Claims: Compliance Management Strategies
Regulatory Rollback: Impact on Industry of CFPB's Withdrawal of Fair Lending and UDAAP Informal Guidance — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: Will the State Attorneys General and Other State Agencies Fill the Void Left by the CFPB?
UDAAP and Fair Lending Developments: 2024 Year-in-Review and 2025 Predictions — The Consumer Finance Podcast
Consumer Finance Monitor Podcast Episode: The Impact of the Election on the CFPB: What to Expect with Supervision and Enforcement During Trump 2.0
Consumer Finance Monitor Podcast Episode: State Fair Access and Debanking Laws Bring Country’s Political and Cultural Divisions to the Fore
Loans, Retail Installment Contracts, and Refinancing Programs — Moving the Metal: The Auto Finance Podcast
Consumer Finance Monitor Podcast Episode: Credit Card and Other Rewards Programs in the Crosshairs
Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Analyzing the CFPB's Stance on Comparison Shopping and Lead Generation Websites — The Consumer Finance Podcast
Keeping up with all the new regulations
CFPB's Larger Participant Rule for Consumer Payments - Payments Pros: The Payments Law Podcast
CFPB's Section 1071 Final Rule (Part 3): Potential Problem Areas – The Consumer Finance Podcast
CFPB's Policy Statement on Abusiveness (Part 2) - The Consumer Finance Podcast
CFPB's Policy Statement on Abusiveness (Part 1) - The Consumer Finance Podcast
Use of the FDIC Name and Logo: Proceed With Caution
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
In this episode of The Consumer Finance Podcast, Chris Willis and Lori Sommerfield discuss the Consumer Financial Protection Bureau's (CFPB) recent withdrawal of more than 60 pieces of informal guidance, focusing on those...more
The CFPB recently dropped two more lawsuits it brought under the Chopra administration—one involving a student loan securitization trust and the other regarding a subprime auto finance company. Both lawsuits included...more
On March 24, U.S. SDNY released its opinion and order granting dismissal, in part, with respect to counts two through five (and related claims under count six) in a case the CFPB brought against a loan company group (the...more
What seems to have become a perennial topic for regulators, the Office of the Comptroller of the Currency (OCC) recently released OCC Bulletin 2023-37 to assist national banks and federal savings banks with effectively...more
On August 22, the CFPB filed a lawsuit against an installment lending company and several of its subsidiaries in South Carolina federal court, alleging that the company engaged in illegal “loan-churning” practices that...more
The CFPB has released the Summer 2023 edition of Supervisory Highlights. The report discusses the Bureau’s examinations in the areas of auto origination and servicing, consumer reporting, debt collection, deposits, mortgage...more
In this article, we share a timeline of our monthly "bites" for 2022 applicable to consumers protected by nondiscrimination and military protection laws. The CFPB has historically been particularly active with respect to...more
On September 28, the U.S. Chamber of Commerce (Chamber), together with the Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, Independent Bankers Association of Texas, Texas Association...more
The U.S. Consumer Financial Protection Bureau has told firms it regulates that federal anti-discrimination law extends liability for banks and other lenders in their use of algorithmic models used in credit decisions. The...more
On March 23, 2021, the CFPB issued a brief statement highlighting its position regarding “consumer harms in the small dollar lending market” and likely future action to reverse the previous CFPB administration’s policy...more
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
On August 31, both houses of the California legislature passed and sent to Governor Newsom for signature the California Consumer Financial Protection Law (the CCFPL). Effective on January 1, 2021 if Governor Newsom signs the...more
The CFPB also recently announced an $11.8 million settlement of a UDAAP (Unfair, Deceptive and Abusive Acts & Practices) enforcement action in the auto finance space. This action, where the CFPB made no allegations that a...more
Introduction - By now you’ve likely heard that the Consumer Financial Protection Bureau (CFPB) has released a final small-dollar lending rule. The hallmark of the rule is the requirement That lenders make a reasonable...more
On September 14, 2017, the Consumer Financial Protection Bureau (the “CFPB”) issued its first no-action letter (the “No-Action Letter”) concerning the operations of Upstart Network, Inc. (“Upstart”), a FinTech lender that...more
On April 27, 2017, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint in a federal district court in Illinois against four online tribal-affiliated lenders alleging that the lenders violated the Truth in...more
On December 17, 2015, the Consumer Financial Protection Bureau (“CFPB”) announced that it has taken action against lead aggregators that resold sensitive personal information to lenders and debt collectors. In a complaint...more
In this Presentation: - Agenda - CFPB – Approach to Regulation - CFPB – Hot Mortgage Topics - Genuine Title, LLC, et al. - New Day Financial, LLC - American Preferred Lending, Flagship...more
An increasing number of banks, mortgage lenders, auto finance companies and other financial services industry participants are dealing with inquiries, investigations and actual or threatened legal claims from the Consumer...more
Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the...more
On July 10, 2013, the Consumer Financial Protection Bureau (CFPB) issued two bulletins that directly affect all consumer lenders and creditors that are subject to the Dodd-Frank Act. Bulletin 2013-07 puts creditors on...more
Jeff Sovern has written an interesting blog post about the CFPB’s recent Bulletin 2013-07 that warns creditors and servicers who are not covered by the FDCPA that their collection practices are subject to the CFPB’s authority...more