To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
On August 15, the Federal Reserve Board (Fed) issued final guidelines, outlining the tiered approach it will use when evaluating the growing requests from fintech firms and cryptocurrency companies for access to master accounts. The guidelines make clear that while requests from institutions with federal deposit insurance will be subject to a streamlined review, institutions
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
What standard should courts use to determine whether information contained in a consumer’s credit report is inaccurate or misleading? According to the Third Circuit in a recent precedential decision, the standard should be that of the “reasonable reader,” not a “reasonable creditor,” i.e., not an individual or entity sophisticated in the art of reading
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
Please join Consumer Financial Services Partner Dave Gettings and his fellow Partner Ethan Ostroff as they discuss the Consumer Financial Protection Bureau’s increasingly active interest in credit reporting, including a recent CFPB blog post on credit card companies and their perceived practice of suppressing payment information, as well as what it signals to companies in the industry.
Ethan’s practice includes advising companies on compliance issues and interactions with regulators concerning the Fair Credit Reporting Act, as well as defending furnishers, users, and specialty consumer reporting agencies in individual and class-action lawsuits under the FCRA.
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
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
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week:
Privacy and Cybersecurity Activities
On May 25, the Federal Trade Commission (FTC) entered a Stipulated Order for Monetary Judgment against Publishers Business Services, Inc. (PBS), and its officers, Brenda Dantuma Schang, Dries Dantuma, Dirk Dantuma, and Jeffrey Dantuma imposing a suspended judgment of $14.47 million.
In 2008, under “Operation Tele-PHONEY,” the FTC joined forces with more than 30 international,