ALL CFS Blog Entries

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft RuleLenders Take Note: Federal Banking Agencies Issue Long-Awaited Community Reinvestment Act Final Rule

All Entries

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft RuleTroutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 12, 2025

Arbitration

Trends in Mass ArbitrationAAA Introduces New Consumer Mediation Procedures and Fee Schedule

Auto Finance

Update on FTC's CARS RuleTexas Senate Bill 1736 Proposes Allowing Convenience Fees for Electronic Motor Vehicle Payments

Background Screening

FTC and Arizona AG Reach $2.6 Million Settlement with Motor Vehicle Dealer Over Alleged Deceptive and Discriminatory Sales and Financing PracticesCFPB Proposed Rule Banning Reporting of Medical Debt

Banking

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft RuleTreasury Announces President Trump’s Intent to Nominate McKernan as Undersecretary of Domestic Finance

Bankruptcy

Idaho Bankruptcy Court Holds that Later-Recovered Assets Revert to Borrower Absent Plan Provision to the ContraryTroutman Pepper Publishes 2023 Consumer Financial Services Year in Review and A Look Ahead

Better Business Bureau (BBB)

Join Us on August 10 for a Webinar on A Review of the New York Cybersecurity FrameworkBetter Business Bureau Data Show Sharp Decline in Debt Collection Complaints

Class Actions

Fourth Circuit Holds SCRA Does Not Bar Mandatory Arbitration in Consumer Agreements, Forcing Portion of Class Action Into ArbitrationNew York Federal Court Certifies TCPA Class Where Phone Numbers Were Obtained Through a Third-Party Website

Consumer Financial Protection Bureau (CFPB)

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft RuleCFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

Consumer Financial Services

FTC Bans Debt Collector and Imposes Substantial Penalty for Allegedly Coercing Consumers into Paying Debts Not OwedIndiana Federal Court Dismisses FDCPA Suit Alleging Violations for being an Unlicensed Debt Collector

COVID-19

New York Federal Court Finds Failure to Review Account Notes When Investigating a Dispute Could Be Considered Reckless Under the FCRANinth Circuit Rejects Constitutional Challenge to Nevada Medical Debt Legislation; Also Finds Legislation Not Preempted by FDCPA or FCRA

Credit Reporting + Data Brokers

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory ShiftFourth Circuit Issues Ruling on Furnisher's Duty to Investigate Legal Disputes Under FCRA

Cryptocurrency + FinTech

House Passes Two CRA Resolutions Rolling Back CFPB’s Overdraft and Digital Payment RulesThe Conference of State Bank Supervisors Pushes Back on STABLE Act

Dear Mary (Advice Column)

When to Notify Your Cyber Carrier of a Security IncidentSEC Cybersecurity Incidents Disclosures: Materiality, Decryptors, and Ransom Payments

Debit + Prepaid Cards

CFPB Releases Semiannual Regulatory Agenda Amid House Financial Services Committee Leaders' Calls to Halt RulemakingCFPB Finalizes Rule on Overdraft Fees for Large Financial Institutions

Debt Buyers + Collectors

FTC Bans Debt Collector and Imposes Substantial Penalty for Allegedly Coercing Consumers into Paying Debts Not OwedIndiana Federal Court Dismisses FDCPA Suit Alleging Violations for being an Unlicensed Debt Collector

Depository Institutions

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft Rule

Events + Webinars

Join Us at the OLA Legal Issues Conference for a Panel on Federal Enforcement in 2023Join Us September 24, 2022, for the 16th Annual National Conference of Vietnamese American Attorneys

Fair Lending

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory ShiftFifth Circuit Agrees to Dismiss CFPB’s UDAAP Examination Manual Appeal, Aligning with Bureau’s New Regulatory Priorities

FCRA

March 2025 Consumer Litigation Filings: Everything UpFourth Circuit Issues Ruling on Furnisher's Duty to Investigate Legal Disputes Under FCRA

FCRA Focus

The Next FCRA Frontier: Identity Theft and CFPB Updates2024 Credit Reporting Review: Impactful Changes and Future Forecast

FDCPA

FTC Bans Debt Collector and Imposes Substantial Penalty for Allegedly Coercing Consumers into Paying Debts Not OwedMarch 2025 Consumer Litigation Filings: Everything Up

Featured Posts

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 12, 2025Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 6, 2025

Federal Trade Commission (FTC)

New Virginia Law Mandates Disclosure of Mandatory Fees in Consumer Transactions, Subject to Certain ExemptionsFTC Bans Debt Collector and Imposes Substantial Penalty for Allegedly Coercing Consumers into Paying Debts Not Owed

Investors

SEC Dismisses Ripple Labs Executives After Losing Bid for Interlocutory AppealSecurities Industry Arbitrations and Litigation Update: FINRA Reaffirms Its Commitment to Enforcement Actions In Connection with the Protection Of Elderly Investor Customers

Military Lending

CFPB Announces 2025 Supervision and Enforcement PrioritiesCFPB Releases Report Highlighting Auto Lending Challenges for Servicemembers

Mortgage Lending, Servicing + Banking

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft RuleFourth Circuit Holds UCC Article 4A Requires Beneficiary Bank’s Actual Knowledge for Wire Misdescription Liability in Business Email Compromise Scam Case

Moving the Metal

Driven by Data: Auto Finance Trends UncoveredShifting Gears: Adapting to Regulatory Changes in Auto Finance

Online Lending

Kansas Governor Enacts Significant Changes to Kansas Mortgage Business Act and Uniform Consumer Credit CodeCFPB Files Lawsuit Against SoLo Funds for Alleged Deceptive Lending Practices

Payment Processing + Cards

CFPB Shifts Focus Away from Buy Now, Pay Later LoansCFPB Abandons Credit Card Late Fee Rule

Payments Pros

Payments Medley: Navigating Trends in Payments With Jason MikulaNavigating the Future of Payment Stablecoins: Legislative Updates and Market Implications

Podcasts

Harnessing the Power of eDiscovery: The Revolution of AI and Technology in Litigation and InvestigationsPayments Medley: Navigating Trends in Payments With Jason Mikula

Privacy + Cyber

New York Department of Financial Services Issues New Guidance on Cybersecurity Risks Arising from Artificial IntelligenceFinCEN Highlights Identity Theft in Latest Threats and Trends Report

Regulatory Enforcement + Compliance

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft RuleCFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

Sales Finance

Sales-Based Financing Trade Group Files Suit Challenging CFPB's Section 1071 RuleMaryland is Latest State to Introduce Legislation Targeting Bank Partnership Programs

Small Business Finance

Texas Introduces Legislation to Regulate Sales-Based Commercial FinancingEWA Provider Sues New York Attorney General Over Threatened Enforcement Action

Small Dollar Lending

Arkansas Passes Earned Wage Access Services ActUtah Legislature Passes Earned Wage Access Services Act

State Attorneys General

New Virginia Law Mandates Disclosure of Mandatory Fees in Consumer Transactions, Subject to Certain ExemptionsEWA Provider Sues New York Attorney General Over Threatened Enforcement Action

State Attorneys General, CFPB + FTC

Treasury Announces President Trump’s Intent to Nominate McKernan as Undersecretary of Domestic FinanceCFPB Shifts Focus Away from Buy Now, Pay Later Loans

Student Lending

U.S. Department of Education to Resume Federal Student Loan CollectionsCFPB Releases Supervisory Highlights Focusing on Student Loan Practices

TCPA

March 2025 Consumer Litigation Filings: Everything UpFCC Grants Limited One-Year Extension for TCPA Robocall Revocation Rule Compliance

The Consumer Finance Podcast

Harnessing the Power of eDiscovery: The Revolution of AI and Technology in Litigation and InvestigationsAI Legislation: The Statewide Spotlight

The Crypto Exchange

Navigating the Future of Payment Stablecoins: Legislative Updates and Market ImplicationsNavigating 2025: Trends in OFAC and DOJ Enforcement for Digital Assets

Tribal Lending Litigation

Troutman Pepper Publishes 2023 Consumer Financial Services Year in Review and A Look AheadSeventh Circuit Affirms Dismissal, Finding Entity Entitled to Arm of the Tribe Sovereign Immunity & Adopting Breakthrough Factor Analysis

Unauthorized Access

The Team Continues to Grow: A Conversation With Our Newest Colleague, Kaitlin ClemensCaregivers in Cybersecurity