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To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week.
This article was republished on insideARM on August 25, 2026.
On August 14, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it is ceasing the discretionary publication of unverified consumer complaint narratives and related data visualizations in its Consumer Complaint Database. The move represents a significant change to one of the Bureau’s most publicly visible data tools that will meaningfully reduce reputational risk for financial institutions and financial services companies.
As we previously discussed here, the New York City Department of Consumer and Worker Protection (DCWP) delayed the effective date of its amended debt collection regulations, known as the SHIELD Rule, from September 1, 2026 to January 1, 2027, to provide regulated entities additional time to make operational adjustments and to allow the agency to address outstanding questions from industry stakeholders.
Our Newsletter Is Moving to LinkedIn
To keep receiving your weekly insights, all you need to do is subscribe to our new Consumer Financial Services Weekly Newsletter — it’s quick and easy.
We’ll see you there!
To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week.
To keep receiving your weekly insights, all you need to do is subscribe to our new Consumer Financial Services Weekly Newsletter — it’s quick and easy.
We’ll see you there!
To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week.
On July 20, the U.S. Court of Appeals for the Tenth Circuit reversed a $500,000 jury verdict against a debt collection furnisher, holding that a consumer cannot prevail on a Fair Credit Reporting Act (FCRA) unreasonable investigation claim without first demonstrating that the disputed information was “objectively and readily verifiable” as inaccurate. In Ward v. National Credit Systems, Inc., the court joined the Second, Fourth, Fifth, and Eleventh Circuits in adopting this standard, resolving a previously open question in the Tenth Circuit and delivering an important victory for furnishers facing FCRA claims rooted in identity theft allegations.
In this crossover episode of The Consumer Finance Podcast and Payments Pros, Taylor Gess is joined by colleagues James Stevens and Sarah Hanna from Troutman Pepper Locke’s Corporate and Consumer Financial Services practices to discuss the surge of interest among fintech and point-of-sale finance companies in obtaining bank charters, acquiring existing banks, and forming bank partnerships. With the current administration signaling an open-for-business posture at the federal banking agencies, and the Office of the Comptroller of the Currency (OCC) actively encouraging de novo applications, payment and fintech companies are weighing their options more seriously than they have in years. The conversation covers what is driving the spike in charter applications, including from companies in the crypto, lending, and payments spaces, and how specialty charters are factoring into that trend. James and Sarah also walk through the bank partnership landscape, where enforcement activity has cooled and focus has shifted, and explain how acquiring an existing bank charter compares to starting from scratch on timing, cost, and regulatory complexity. The episode closes with practical guidance for point-of-sale finance companies considering any of these three paths, including why building internal compliance infrastructure early, engaging regulators informally, and retaining regulatory counsel sooner rather than later can make or break a successful launch.
To keep receiving your weekly insights, all you need to do is subscribe to our new Consumer Financial Services Weekly Newsletter — it’s quick and easy.
We’ll see you there!
To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week.
New York City is moving aggressively into consumer protection territory that federal regulators have largely stepped back from. In January 2026, Mayor Zohran Mamdani signed two executive orders directing the Department of Consumer and Worker Protection (DCWP) to crack down on hidden fees and subscription tricks and traps. DCWP has now followed through, finalizing a first-of-its-kind municipal click-to-cancel rule (previously discussed here and here) and publishing a proposed citywide “junk fee” ban.
It has been reported that the New York City Department of Consumer and Worker Protection (DCWP) has pushed back the effective date of its amended debt collection regulations, known as the SHIELD Rule, from September 1, 2026 to January 1, 2027. The delay, which has not yet been confirmed on the DCWP’s official website, was announced to provide regulated entities additional time to make operational adjustments and to allow the agency to address outstanding questions from industry stakeholders.