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Please join Troutman Pepper Partners Chris Willis and Jason Cover as they discuss the Consumer Financial Protection Bureau’s (CFPB) recent special edition Supervisory Highlights focused on “junk fees.” Chris and Jason dive into the report and talk about how this fits into the CFPB’s broader initiative on junk fees, what exactly constitutes a junk fee, the types of fees the CFPB identifies as problematic, if this means that creditors can’t charge any of these fees, and steps to take to mitigate risk when imposing fees.

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield, Addison Morgan, and Josh McBeain for the first installment of a special three-part series about the Consumer Financial Protection Bureau’s (CFPB) new small business lending data collection and reporting final rule — the Section 1071 rule. Part 1 of this special series provides a general overview of the rule, including:

In the first of a four-part Crypto Year in Review series, Carlin McCrory, Keith Barnett, and Ethan Ostroff look at how the CFPB and FTC viewed and regulated cryptocurrency in 2022. The panel examines statements by CFPB Director Rohit Chopra and recent CFPB and FTC enforcement actions, identifying likely regulatory trends for 2023 and beyond.

Please join Consumer Financial Services Partner Chris Willis and his colleague Partner Misha Tseytlin to discuss the Fifth Circuit’s decision in Community Financial Services Association of America, Ltd. v. Consumer Financial Protection Bureau, what may happen next and when, and the ruling’s practical impact on the consumer finance industry. As noted in our October 20 blog about the CFSA case, a Fifth Circuit panel found the funding mechanism for the CFPB to be unconstitutional.

In this episode of The Crypto Exchange, Troutman Pepper Consumer Financial Services Partner Kalama Lui-Kwan welcomes back Keith Barnett and Carlin McCrory to discuss recent interviews by Rohit Chopra from the CFPB related to consumer protection issues, true lender matters, actions against repeat offenders, as well as P2P platforms and the CFPB’s stance on fees.

Keith and Carlin also discuss a recent report released by the CFPB, The Convergence of Payments and Commerce: Implications for Consumers, that examines the challenges in new product categories and risks to consumers inherent in the evolving payment ecosystem. 

The U.S. Chamber of Commerce has sent a detailed letter, dated February 12, 2004, addressed to Director Cordray of the Consumer Finance Protection Bureau (CFPB) in which it expresses its disapproval of the CFPB’s approach of “regulation by enforcement settlement combined with issuance of brief guidance statements” in lieu of utilizing a formal rulemaking process…

The National Association of Automobile Dealers (NADA) issued a comprehensive manual in late January that includes detailed recommendations to dealers related to dealer reserve and fair lending compliance, in an attempt to assist members with compliance with the Consumer Financial Protection Bureau’s (CFPB) bulletin addressing indirect auto lending and the Equal Credit Opportunity Act (ECOA).…

On Thursday, February 27, 2014, the Consumer Financial Protection Bureau (CFPB) encouraged credit card companies to offer consumers their credit scores for free online and in monthly statements – a practice that several issuers have already begun in an effort to distinguish their products in the industry. The CFPB recently sent letters to the nation’s…

 Credit and Collection News and Troutman Sanders’ Consumer Financial Services group present
“CFPB, State Regulators and Compliance”

Atlanta, GA
February 18-19, 2014

CCN and Troutman Sanders have created a seminar filled with rich and relevant content designed to meet the challenges of collecting in today’s economy, given the highly-regulated nature of the debt collection industry.…