In our inaugural episode, Troutman Pepper Consumer Financial Services Partner Chris Willis welcomes fellow CFS Partner Lori Sommerfield in a discussion on the U.S. Department of Justice’s recent guidance on website accessibility for state and local governments and for public accommodations under Titles II and III of the Americans with Disabilities Act. A seasoned consumer

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Tuesday, May 24 • 12:00 p.m. ET

Presented by Pro Bono Institute (PBI) and its Corporate Pro Bono (CPBO) project, and Troutman Pepper, in conjunction with Financial Institution Pro Bono Day 2022.

In-house counsel at financial institutions subject to the requirements of the Community Reinvestment Act (“CRA”) will learn how the provision of

On May 3, Judge Grimm of the U.S. District Court for the District of Maryland issued a class certification decision in a consumer data breach multidistrict litigation case against an international hotel and resort management company, becoming one of the few district courts to certify Rule 23(b)(3) classes in this type of case. The litigation

Like most industries today, Consumer Finance Services businesses continue to be significantly impacted by COVID-19. To help you keep abreast of relevant activities, below find a breakdown of some of the biggest legislative and regulatory events at the federal and state levels to impact the Consumer Finance Services industry this past week:

Federal Activities

State

On April 7, the Consumer Finance Protection Bureau (CFPB or Bureau) filed an amicus brief in an appeal, pending before the Court of Appeals for the Eleventh Circuit in which the Bureau argued that the Fair Credit Reporting Act (FCRA) does not exempt furnishers from investigating disputes based on legal questions as opposed to factual

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Tuesday, May 17 • 12:00 – 1:00 p.m. ET

The CFPB’s recent announcement that it will now be examining non-credit products, services, and processes for discrimination under the Bureau’s UDAAP authority raises the question of how financial services companies should go about testing various aspects of their operations for potential discrimination. In this

The Consumer Finance Podcast provides reliable, insightful, and entertaining industry-specific content central to consumer finance services. Hosted by veteran Troutman Pepper CFS Partner Chris Willis, this podcast features industry experts, insiders, and other Troutman Pepper attorneys delivering easily digestible segments on a variety of topics.
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On May 2, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Supervisory Highlights report on legal violations discovered during examinations in the second half of 2021.

The Supervisory Highlights detail issues identified by CFPB examination teams across a wide number of segments of the consumer financial services industry. Summarized below are those issues

  • In its annual General Explanations of the Administration’s Revenue Proposals, the U.S. Department of Treasury proposed clarifications and amendments to the Internal Revenue Code to address on-demand pay arrangements (also known as earned wage access or “EWA” programs).
  • The proposals would confirm, among other things, that EWA programs are not loans.
  • The proposals would also