Skip to content

Menu

Ballard Spahr L.L.P. logo
HomeKey TopicsSub-MenuRegulatory and EnforcementLitigation and Court Decisions

Consumer Finance Monitor

CFPB, Federal Agencies, State Agencies, and Attorneys General

account

Subscribe to account via RSS

CFPB issues circular on reopening closed deposit accounts

By John L. Culhane, Jr., Michael Gordon & Kristen E. Larson on May 11, 2023
Posted in CFPB, Deposit Accounts, Regulatory and Enforcement

The CFPB has issued a circular that addresses the reopening of closed deposit accounts (Circular 2023-02).  Specifically, the circular warns that it can constitute an unfair act or practice for a financial institution to unilaterally reopen closed accounts to process debits or deposits.

By way of background, the CFPB describes a scenario in which, after a consumer has completed all of the steps required by the financial institution to close a deposit account and the financial institution has closed the account, the financial institution unilaterally reopens the account after receiving a debit or deposit to the account. … Continue Reading

CFPB August 2016 complaint report highlights bank account or service complaints, complaints from Ohio consumers

By Barbara S. Mishkin on August 31, 2016
Posted in Deposit Accounts, Overdrafts, Regulatory and Enforcement

The CFPB has issued its August 2016 complaint report which highlights complaints about bank accounts or services and complaints from consumers in Ohio and the Columbus metro area.  The CFPB began taking bank account or service complaints on March 1, 2012.

As noted below, the report indicates that consumers commonly complain about the use of consumer and credit reporting data for account screening. … Continue Reading

Regulatory & Enforcement
Litigation & Court Decisions

Subscribe to the Consumer Finance Monitor Podcast

listen on apple podcasts
Listen on YouTube Music
listen on spotify
CA Consumer Financial Protection Law Resource Center

Stay Connected

RSS LinkedIn Twitter YouTube
2024 Chambers Ranking
Top Ranked Chambers USA 2022

Topics

Archives

Resources

  • American Bankers Association (ABA)
  • American Financial Services Association
  • CA AG
  • CA Department of Financial Protection and Innovation
  • CBA
  • CFPB
  • Conference of State Bank Supervisors (CSBS)
  • Democratic Attorneys General Association (DAGA)
  • Dodd-Frank Act Title X
  • Dodd-Frank Act Title XIV
  • DOJ
  • FCC
  • FDIC
  • Federal Reserve Bank
  • Financial Services Roundtable (FSR)
  • FTC
  • HUD
  • IL AG
  • MA AG
  • MBA
  • National Association of Attorneys General (NAAG)
  • Nationwide Mortgage Licensing System (NMLS)
  • NCUA
  • NY AG
  • NY DFS
  • OCC
  • U.S. Department of the Treasury

Related Blogs

  • American Banker BankThink
  • American Bankers Association Dodd-Frank Tracker for CFPB
  • Bankwatch
  • Consumer Law & Policy
  • Credit Slips
CFS Alerts
CFS Events

Recent Posts

  • CFPB rescinds 67 guidance documents
  • Ballard Spahr’s Consumer Finance Monitor podcast ranks in top 25 in Million Podcasts’ top 25 among hundreds of financial services podcasts
  • Today’s podcast episode: Navigating State AG Investigations: A Playbook For Financial Services Companies
  • CFPB won’t make small business reporting rule a priority
  • Trump Administration to withdraw McKernan’s nomination to serve as CFPB Director

Consumer Finance Monitor

by the Consumer Financial Services Group at Ballard Spahr LLP

RSS LinkedIn Twitter YouTube

Practice Leaders

Daniel JT McKenna
mckennad@ballardspahr.com
215.864.8321
John D. Socknat
socknatj@ballardspahr.com
202.661.2253
DisclaimerPrivacy Policy

ABOUT THE CFS GROUP

The Consumer Financial Services Group is nationally recognized for its guidance in structuring and documenting new consumer financial services products, its experience with the full range of federal and state consumer credit laws throughout the country, and its skill in litigation defense and avoidance, including pioneering work in pre-dispute arbitration programs. Read More
Copyright © 2025, Ballard Spahr L.L.P. All Rights Reserved.
www.ballardspahr.com
Law blog design & platform by LexBlog LexBlog Logo