On June 16, 2020, the Consumer Financial Protection Bureau (“CFPB”) issued a seven-page FAQ memorandum addressing some of the most critical questions for compliance with the new consumer reporting requirements of the “CARES Act”. In sum, this Compliance Aid:

  • Addresses the specific credit reporting requirements of the CARES Act, including considerations for furnishers when

After numerous amendments, readings, and committee hearings, California Assembly Bill 2501 narrowly failed to pass in Sacramento on June 15, with a vote total of 28 Ayes, 25 Noes, and 26 abstentions. The bill would have offered major payment relief to homeowners and certain renters, as well as owners of mobile homes. It might see

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools

With all 50 states in the process of lifting stay-at-home orders, many businesses are eager to reopen but remain committed to protecting their most important assets — their employees. As part of establishing reopening procedures, some businesses have considered collecting health-related information from employees to prevent the spread of COVID-19 among the workforce.

While collecting

On May 21, the Consumer Financial Protection Bureau issued a report providing an analysis of the complaints it has received since the outbreak of the coronavirus (“COVID-19”) pandemic. Unsurprisingly, the number of complaints has increased dramatically.

The report shows that the CFPB received 36,700 consumer complaints in March and 42,400 in April, the two highest

On June 4, Commissioner Sandy O’Laughlin of the State of Nevada Financial Institutions Division (“NFID”) informed licensed collection agencies that they may resume operations contingent upon compliance with any outstanding emergency directive issued by Governor Steve Sisolak, guidance issued by a state agency, Justice Court Orders for each jurisdiction, and health and safety guidance from

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools

Authors:
Ethan Ostroff, Partner, Troutman Sanders
Sadia Mirza, Associate, Troutman Sanders
Alex Teixeira, Attorney, Troutman Sanders
Brett Dorman, Associate, Pepper Hamilton

There is no shortage of legislation to address the coronavirus (“COVID-19”) pandemic and the emerging contact tracing applications. In late April 2020, Republican senators introduced a bill called the COVID-19

The Cybersecurity and Infrastructure Security Agency (“CISA”) launched its first installment of its “Cyber Essentials Toolkit” titled, “Yourself, The Leader – Drive Cybersecurity Strategy, Investment, and Culture” on May 29. CISA is developing the Cyber Essentials Toolkit, with the assistance of small businesses, to equip businesses with resources to improve their cybersecurity practices.

CISA will

Like most industries today, Consumer Finance Services businesses are being significantly impacted by the novel coronavirus (COVID-19). Troutman Sanders and Pepper Hamilton have developed a dedicated COVID-19 Resource Center to guide clients through this unprecedented global health challenge. We regularly update this site with COVID-19 news and developments, recommendations from leading health organizations, and tools