To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Seventh Circuit Reverses District Court Decision, Expands ECOA to Include Prospective Applicants
As discussed here, on February 3, 2023, an Illinois federal court dismissed a case brought by the Consumer Financial Protection Bureau (CFPB or Bureau) in 2020 against Townstone Financial, Inc., a Chicago mortgage lender, for alleged violations of the Equal Credit Opportunity Act (ECOA). The CFPB had accused Townstone of discouraging prospective African American applicants in the Chicago metropolitan area from applying for mortgages.
Troutman Pepper Weekly Consumer Financial Services Newsletter – July 9, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Troutman Pepper Weekly Consumer Financial Services Newsletter – July 2, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Supreme Court Overrules Chevron Doctrine in Landmark Administrative Law Decision
Today, the U.S. Supreme Court issued a landmark decision in Loper Bright Enterprises v. Raimondo overruling the Chevron doctrine. This decision marks a watershed moment in administrative law, fundamentally altering the landscape for judicial review of agency actions under the Administrative Procedure Act (APA).
Troutman Pepper Weekly Consumer Financial Services Newsletter – June 25, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
Colorado Federal Court Enjoins State Enforcement of DIDMCA Opt-Out Legislation Against Out-Of-State Lenders
On June 18, a Colorado federal court granted the plaintiff trade groups’ motion for a preliminary injunction, effectively halting the enforcement of Colorado’s H.B. 1229 with respect to loans made by out-of-state state-chartered banks.
Troutman Pepper Weekly Consumer Financial Services Newsletter – June 18, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week:
CFPB Report Foreshadows Increased Scrutiny of Negative Equity in Auto Lending
Today, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on the state of negative equity in auto lending. The CFPB says it found that financing negative equity creates increased risks for consumers, and states that the CFPB will be putting negative equity under scrutiny.
Troutman Pepper Weekly Consumer Financial Services Newsletter – June 10, 2024
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: