SaverLife is a national non-profit sponsored by some of the nation’s leading financial institutions that uses financial technology to improve the financial health of low- to-moderate income consumers by incentivizing savings through prizes, rewards, expert resources, and gameplay. We first …
CFPB
New blog post by Adam White discusses “the CFPB’s blank check”; Ballard Spahr to hold Dec. 16 webinar on CFSA decision
By Alan S. Kaplinsky on
Posted in CFPB
The eyes of the consumer finance world are now on the U.S. Supreme Court as it decides whether to grant the CFPB’s certiorari petition in Community Financial Services Association of America Ltd. v. CFPB (CFSA Decision). In the CFSA Decision, …
CFPB settles lawsuit against My Loan Doctor and its founder for alleged deceptive marketing of deposit accounts
By Michael Gordon & Alan S. Kaplinsky on
Posted in CFPB, Regulatory and Enforcement
The CFPB announced last week that it has entered into a proposed settlement of the lawsuit it filed in July 2020 against My Loan Doctor, LLC (“Loan Doctor”) and its founder, Edgar Radjabli, for allegedly making false, misleading, and inaccurate …
CFPB rejects challenge to its authority to investigate crypto lender
By Michael Gordon & Alan S. Kaplinsky on
The CFPB recently denied the petition of Nexo Financial LLC to modify the CFPB’s Civil Investigative Demand (CID) issued to Nexo, rejecting Nexo’s claim that the CFPB does not have jurisdiction to investigate crypto-lending products offered by Nexo such as …
SCOTUS grants CFSA extension to file opposition to CFPB’s certiorari petition seeking review of Fifth Circuit ruling that CFPB’s funding is unconstitutional; CFSA opposes SCOTUS hearing case this Term if certiorari is granted
By Alan S. Kaplinsky & Michael Gordon on
Posted in CFPB, Litigation and Court Decisions
Last week, the U.S. Supreme Court granted the unopposed request of the Community Financial Services Association for a 30-day extension until January 13, 2023 to file its brief in opposition to the CFPB’s certiorari petition seeking review of the Fifth …
CFPB seeks input on development of new auto market data set
By Brian Turetsky on
On November 17, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced in a blog post that it is in seeking to build a new data set that “will allow for a more robust understanding of market trends” in the auto …
CFPB expands consumer complaint access to local governments
By Michael Gordon on
Posted in CFPB
In a recent blog post, the CFPB announced that it has started sharing consumer complaint data with local governments through its Government Portal. The Government Portal gives local, state, and federal government agencies access to more granular information about …
CFPB highlights accuracy problems in two reports on tenant background screening reports
By Michael Gordon & John L. Culhane, Jr. on
Posted in CFPB, Credit Reports
The CFPB recently released two reports concerning tenant background checks. One report, “Consumer Snapshot: Tenant Background Checks,” discusses consumer complaints received by the CFPB that relate to tenant screening by landlords. The other report, “Tenant Background Checks …
CFPB Releases Analysis of Consumer Complaints Related to Crypto-Assets
By John Georgievski on
Pointing to a growth in consumer complaints related to crypto-assets, on November 10th, 2022, the Consumer Financial Protection Bureau (the “CFPB”) released a Complaint Bulletin, which analyzed in excess of 8,300 consumer complaints that the CFPB had …
Consumer Finance Monitor Podcast launches initiative to feature women as podcast guests
By Alan S. Kaplinsky on
Posted in CFPB
I am delighted to share with our blog readers a new initiative to feature more women as guests on weekly episodes of our Consumer Finance Monitor Podcast. We are launching the initiative with an episode this week featuring special guest …