Wednesday, August 17 • 2:30 – 3:30 p.m. ET
While it’s no surprise that fair lending is among the regulators’ top issues in 2022 – if not THE top issue – it’s a good idea to be aware of new areas in which this is evaluated. One such area is bias within the appraisal and
Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues James Stevens and Carlin McCrory as they discuss the consumer protection and safety and soundness sides of credit union regulation. The discussion includes topics on the National Credit Union Administration’s 2022 consumer protection priorities, loan participations, the 2023 CECL implementation, and the regulatory impact of a recession on consumer loan portfolios held by credit unions.
On August 10, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an interpretive rule, detailing when digital marketing providers for financial firms must comply with federal consumer financial protection laws. The interpretive rule addresses digital marketing providers that commingle the targeting and delivery of advertisements to consumers with the provision of advertising “time or
Bankers are gearing up to oppose an effort by the Consumer Financial Protection Bureau (CFPB or Bureau) to prevent an increase in allowable late charges for credit cards. In letters dated August 1, the American Bankers Association, Consumer Bankers Association, Credit Union National Association, and National Association of Federally‐Insured Credit Unions (Associations), as well
Please join Consumer Financial Services Partner Chris Willis and his guest and fellow Partner Tony Kaye for this latest podcast episode as they discuss the Military Lending Act and the Servicemembers Civil Relief Act, including the differences between the two, their state analogues, and several key issues in the consumer finance industry surrounding servicemembers.
Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues Dave Gettings and Mary Kate Kamka as they discuss recent trends in class-action consumer finance litigation, including:
The Bureau of Consumer Financial Protection (CFPB) ordered Hyundai Capital America (Hyundai) to pay $19.2 million for allegedly providing inaccurate information to consumer reporting agencies, including, the CFPB alleged, wrongly reporting that consumers were delinquent on loans and leases, in violation of the Fair Credit Reporting Act (FCRA).
In its press release, the CFPB
Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues Stefanie Jackman and Sarah Reise as they discuss the intersection of fair lending with collections. They cover which types of third-party debt collection processes could be subject to a fair lending review, the difference between disparate treatment and disparate impact, how the CFPB may review collection-related decisions, what a basic fair lending analysis may look like for collectors, the processes likely to be targeted for a fair lending review, and what collectors can do now to update their compliance management system and assess their operations to identify and mitigate potential fair lending issues.
On July 19, the Federal Housing Finance Agency (FHFA or the Agency) announced the establishment of the Office of Financial Technology to serve as a source of information, Agency support in addressing emerging risks, and avenue to advance Agency priorities as to the adoption and deployment of financial technology (fintech). At the same time, the
As peer-to-peer money transfer services (or cash apps) become more popular, there has been an increase in the number of scams enticing consumers to transfer funds to fraudsters. The law currently provides that the banks that own the cash apps are only required to reimburse transactions not authorized by the customer — meaning if a