Consumer Financial Protection Bureau (CFPB)

In August 2017, the Consumer Financial Protection Bureau issued a Civil Investigative Demand (CID) to Libre by Nexus, Inc. and Nexus Services, Inc. (collectively, Nexus) seeking documents and information to investigate whether the companies were engaging in any unfair or deceptive business practices prohibited by the Consumer Financial

On September 19, the Stop Debt Collection Abuse Act of 2019 was introduced by Reps. Emanuel Cleaver (D-Mo.) and French Hill (R-Ark.) in the House and Sens. Cory Booker (D-N.J.) and Mike Lee (R-Utah) in the Senate. This is the third iteration of the proposed bill, which was previously introduced in November 2015 and March

A recent report issued by the Consumer Financial Protection Bureau Private Education Loan Ombudsman recommends actions against scammers who seek to take advantage of and abuse student loan borrowers by offering no-value and sometimes harmful services.

On October 15, the Consumer Financial Protection Bureau Private Education Loan Ombudsman issued its 2019 Annual Report, which actually

The Consumer Financial Protection Bureau is amending Regulation C under the Home Mortgage Disclosure Act (HMDA), extending the current temporary threshold for collecting and reporting data about open-end lines of credit until January 1, 2022. The rule also incorporates partial exemptions from the Economic Growth, Regulatory Relief, and Consumer Protection Act

The Consumer Financial Protection Bureau is proposing changes to the Fair Debt Collection Practices Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act (commonly referred to as “Dodd-Frank”). State attorneys general from 28 states have banded together to comment on the changes, which may impact an estimated 49 million American consumers who

The Consumer Financial Protection Bureau announced on October 11 that it will establish a taskforce of industry experts to examine the legal and regulatory environment facing consumers and financial service providers. The aim of the taskforce is to harmonize, modernize, and update consumer credit laws and their implementing regulations and to identify gaps in these

Organizations preparing for the California Consumer Privacy Act have heard it and read it before — to prepare for the CCPA, all organizations, including covered “businesses” and third-party vendors, must review their vendor contracts. What is not always (or ever) explained, however, is what reviewing actually consists of and how organizations benefit from ensuring such

On September 10, the Consumer Financial Protection Bureau issued three new policies to promote innovation and facilitate compliance: the Policy on No-Action Letters (NAL), Policy to Encourage Trial Disclosure Programs (TDP), and Policy on the Compliance Assistance Sandbox (CAS). The policies were proposed in 2018 and went through a period of public

The U.S. Court of Appeals for the Seventh Circuit recently affirmed judgment in favor of two debt collectors and against a debtor for claims arising under the Fair Debt Collection Practices Act and the Wisconsin Consumer Act (“WCA”). In its ruling, the Court held that the debtor did not create a triable issue of material

On July 25, the Consumer Financial Protection Bureau released an Advance Notice of Proposed Rulemaking (“ANPR”) asking for the mortgage industry’s opinion on the scheduled expiration of a provision in its Ability to Repay/Qualified Mortgage Rule (“Rule”), commonly known as the “QM patch.” The QM patch allows certain mortgage loans that are eligible for purchase