News & Analysis as of

UDAAP Equal Credit Opportunity Act Consumer Financial Protection Act (CFPA)

Ballard Spahr LLP

Is There Legal Authority for Trump’s “Debanking” Executive Order?

Ballard Spahr LLP on

As we previously reported, on August 7, 2025, President Trump issued an Executive Order (the “EO”) titled “Guaranteeing Fair Banking for All Americans” which, among other things...more

Goodwin

Double Clicking on Innovation in Consumer Finance: Responsible Use of AI

Goodwin on

Artificial intelligence (AI) is becoming ubiquitous across sectors, and the financial services industry is no exception. With the rise of AI, there is also an increase in scrutiny by regulators over its use....more

Hudson Cook, LLP

CFPB Bites of the Month - August 2024 - All That's Left of the CFPB's Summer Sky

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior and current month covered during the August 2024 webinar....more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Auto

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2023 applicable to the auto finance industry. We think it's safe to say that the auto finance industry was top of mind to the CFPB. ...more

Ballard Spahr LLP

Texas Federal District Court invalidates CFPB Exam Manual changes which opined that discrimination is a UDAAP violation

Ballard Spahr LLP on

As we predicted long ago, on Friday, September 8, 2023, the Federal District Court for the Eastern District of Texas vacated the changes made in March 2022 to the CFPB’s Exam Manual. On that date, the CFPB purported to use...more

Ballard Spahr LLP

CFPB Summer 2023 Supervisory Highlights looks at auto origination and servicing, consumer reporting, debt collection, deposits,...

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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

Saul Ewing LLP

Abusive Policy Statement

Saul Ewing LLP on

Since its inception, the Consumer Financial Protection Bureau (“CFPB”) has issued policy statements around its authority to root out, stop and prevent unfair and deceptive acts pursuant to the Unfair, Deceptive and Abusive...more

Ballard Spahr LLP

CFPB Suffers Significant Defeat In ECOA Lawsuit Against Townstone Mortgage

Ballard Spahr LLP on

As previously reported, in July 2020 the CFPB filed the first ever redlining complaint against a nonbank mortgage company, Townstone Mortgage (Townstone), under the Equal Credit Opportunity Act (ECOA) and Consumer Financial...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Small Dollar Lending

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In this article, we share a timeline of our monthly "bites" for 2022 applicable to small-dollar lending. So, what happened in 2022?...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Credit Cards

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2022 applicable to the credit card industry. As evidenced by the timeline, federal regulators (primarily the CFPB) are beginning to renew their focus on credit...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

Bradley Arant Boult Cummings LLP

FTC Settlement with Auto Dealer Group Demonstrates Treatment of Discriminatory Conduct as “Unfair”

The FTC issued a release on October 18, 2022, to announce that it has initiated an enforcement action in Maryland against a Washington, D.C.-area auto dealer group, Passport Automotive Group, as well as two of its executives,...more

Jenner & Block

CFPB Warns Digital Marketers, Loops In State AGs

Jenner & Block on

In a recent interpretive rule announced on August 10, 2022,—and unveiled at a summit of the National Association of Attorneys General—the CFPB stated that digital marketers are subject to the CFPB’s jurisdiction, and...more

Hudson Cook, LLP

CFPB Expands UDAAP Authority to Include Discrimination

Hudson Cook, LLP on

On March 16, 2022, the Consumer Financial Protection Bureau ("CFPB") announced in a press release changes to its supervisory operations that may dramatically expand the reach of the CFPB's anti-discrimination mandate....more

Cadwalader, Wickersham & Taft LLP

CFPB Will Begin Using UDAAP Authority to Address Discrimination in Wide Array of Consumer Financial Products

On March 16, the Consumer Financial Protection Bureau (CFPB) announced that it would begin examining financial institutions for discriminatory practices under its authority to prohibit unfair, deceptive, or abusive acts or...more

WilmerHale

CFPB Announces Expansion of Unfairness Analysis to Address Discrimination

WilmerHale on

On March 16, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) announced a significant expansion of its “anti-discrimination efforts to combat discriminatory practices across the board in consumer finance.” Under...more

Davis Wright Tremaine LLP

CFPB to Use "Unfairness" to Address Gaps in Antidiscrimination Coverage

On March 16, 2022, the Consumer Financial Protection Bureau (CFPB) issued a press release and an updated UDAAP exam manual setting forth its intentions to use the Consumer Financial Protection Act's (CFPA) prohibition against...more

Venable LLP

CFPB Officially Adds UDAAP to Its Anti-Discrimination Tool Kit

Venable LLP on

The CFPB intends to use its authority under the Consumer Financial Protection Act to identify, prohibit, and prosecute discrimination as a UDAAP - an "unfair" act or practice in any financial services category, whether it be...more

Morrison & Foerster LLP

Financial Services Report, Summer 2016

BELTWAY - Every Last Penny Counts - Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more

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