CFPB

With Democrats in control of the White House, Senate and House of Representatives, consumer financial services companies are understandably anxious about the regulatory environment.

Last week, the newly-empowered California Department of Financial Protection and Innovation (the “DFPI”) gave us a sense of what to expect when it announced an investigation into 12 debt collectors that

As CPW’s Keith Bradley and Corey McGehee explain in a must-read article published in Law360, just before New Year’s Eve, the U.S. District Court for the District of Columbia invalidated two provisions in the Consumer Financial Protection Bureau’s rules for prepaid accounts. So far as we know, this case marks the first time any court

As 2020 drew to a close, the Ninth Circuit gave the CFPB a victory in Consumer Fin. Prot. Bureau v. Seila Law LLC, 2020 U.S. App. LEXIS 40572 (9th Cir. Dec. 29, 2020), upholding the CFPB’s civil investigative demand (CID) to Seila Law.  The case was on remand from the United States Supreme Court, which

As you will recall from CPW’s prior update (here), earlier this fall, the CFPB issued a final rule (the “Rule”) to implement the Fair Debt Collection Practices Act (“FDCPA”).  12 CFR Part 1006 et seq.  The Rule is perhaps the most significant development affecting the debt collection industry since the FDCPA came

CPW is your source for breaking news in the area of consumer privacy litigation.  We have been covering developments concerning litigation brought under the Fair Credit Reporting Act (“FCRA”).  Well, entities regulated under the FCRA can also be subject to enforcement actions for failing to meet their statutory obligations.  The Consumer Financial Protection Bureau (“CFPB”)

The Consumer Financial Protection Bureau (“CFPB”) issued last week a final rule to implement the Fair Debt Collection Practices Act (“FDCPA”), in a sea change for consumer privacy and debt collection.  12 CFR Part 1006 et seq.  The Final Rule is the most significant development affecting the debt collection industry since the FDCPA came into

The CFPB has two upcoming public events you won’t want to miss.  On 15 September, the public can dial-in to the CFPB “listening session” where the CFPB “advisory committees will meet with the Bureau’s Taskforce on Federal Consumer Financial Law to share recommendations on improvements to the current state of federal consumer protection

On July 7, 2020, the CFPB issued its much-anticipated final rule (the “Revocation Rule”) on small dollar lending rescinding the mandatory underwriting provisions of its 2017 rule governing payday, vehicle title, and certain high-cost installment loans (the “2017 Rule”).  Consistent with its proposal last year, the Revocation Rule rescinds the Mandatory Underwriting Provisions of the

According CFPB’s Director, “In April and May, the [CFPB] received approximately 42,400 and 44,100 complaints, respectively—the highest monthly complaint volumes in the Bureau’s history.”  This is something Consumer Privacy World is monitoring closely because an increase in CFPB complaints means lawsuits and statutory changes are not far behind.

Indeed, just this week the U.S. House