News & Analysis as of

UDAAP Debt Collection Automotive Loans

Sheppard Mullin Richter & Hampton LLP

CFPB Dismisses Two Actions Against Student Loan Trusts and Subprime Auto Lender 

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

Troutman Pepper Locke

2024 Consumer Financial Services Year in Review and A Look Ahead

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We are pleased to share our annual review of regulatory and legal developments in the consumer financial services industry. With active federal and state legislatures, consumer financial services providers faced a challenging...more

Sheppard Mullin Richter & Hampton LLP

Latest CFPB Supervisory Highlights Detail UDAAPs Across Range of Areas

On July 26, the CFPB released its Summer 2023 Supervisory Highlights reporting unfair, deceptive, and abusive acts or practices (UDAAPs) across a number of consumer financial products, including auto origination, auto...more

Ballard Spahr LLP

CFPB Releases Summer 2017 Supervisory Highlights

Ballard Spahr LLP on

Earlier this week the CFPB released its Summer 2017 Supervisory Highlights, which covers supervisory activities generally completed between January through June of 2017. The report touts the $14 million total restitution...more

Ballard Spahr LLP

CFPB issues Fall 2016 Supervisory Highlights

Ballard Spahr LLP on

In its Fall 2016 Supervisory Highlights, which covers supervision work generally completed between May and August 2016, the CFPB highlights violations found by its examiners involving origination and servicing of auto...more

Dorsey & Whitney LLP

CFPB Supervisory Highlights – January 2016 to April 2016

Dorsey & Whitney LLP on

On June 30, 2016, the Consumer Financial Protection Bureau (“CFPB”) released the twelfth edition of its Supervisory Highlights report (“Report”), which focused on supervision work completed between January and April 2016. The...more

WilmerHale

CFPB Examinations and Investigations: Defense Strategies and Best Practices

WilmerHale on

The pursuit of examinations and enforcement actions by the Consumer Financial Protection Bureau (CFPB) has created new challenges for entities that provide consumer financial products and services. Given the CFPB’s broad...more

Morrison & Foerster LLP

The CFPB & UDAAP: A "Know It When You See It" Standard? 2015 Year-End Update

The Consumer Financial Protection Bureau’s (CFPB) exercise of its sweeping authority to prohibit unfair, deceptive, and abusive acts or practices (UDAAP) continues to command the attention of financial institutions and...more

MoFo Reenforcement

CFPB Orders Auto Financer to Pay $48.3M for Misleading Borrowers

MoFo Reenforcement on

On September 30, 2015, the CFPB ordered an indirect auto lending company and its auto lending subsidiary to pay $48.3 million in fines for alleged FDCPA, TILA, and UDAAP violations. The CFPB alleges that the companies...more

Morrison & Foerster LLP

The CFPB 2015 Forecast: Continued Cloudiness, Thunderstorms Likely

This will be a busy year at the Consumer Financial Protection Bureau (CFPB), and that certainly means it will be a busy year for financial institutions as well. In addition to exercising its supervisory and enforcement...more

Bilzin Sumberg

Fighting Back Against CFPB Demands

Bilzin Sumberg on

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

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