We discuss the practices found to be unlawful by CFPB examiners in the areas of deposits, auto servicing, and payday lending, identify practical takeaways for avoiding criticism by the “new CFPB,” and share our thoughts on what the findings signal for future scrutiny in these areas by the “new CFPB.”

Ballard Spahr Senior Counsel Alan

The CFPB has filed a motion to lift the stay of the compliance date for the payment provisions in its 2017 final payday/auto title/high-rate installment loan rule (2017 Rule).

In May 2018, the Texas federal district court hearing the lawsuit filed by two trade groups challenging the 2017 Rule entered an order staying the lawsuit. 

Today marks the tenth anniversary of our blog, Consumer Finance Monitor.  Originally named CFPB Monitor, we launched our blog to coincide with the CFPB’s first day.

Over the past ten years, our blog has received numerous awards and been recognized as a source of authoritative analysis and commentary.  Since launching our blog, it has been

In the lawsuit alleging wrongful delay by the CFPB in adopting regulations to implement Section 1071 of the Dodd-Frank Act, the parties have entered into a stipulation that requires the CFPB to issue a Notice of Proposed Rulemaking (NPRM) by September 30, 2021.

Section 1071 amended the ECOA to require financial institutions to collect and

The CFPB announced earlier this week that it has issued a consent order against GreenSky, LLC that finds GreenSky engaged in unfair acts and practices in connection with its origination and servicing activities related to its point-of-sale financing program.  The consent order requires GreenSky to refund or cancel up to $9 million in point-of-sale loans

Last Friday, President Biden issued an Executive Order on Promoting Competition in the American Economy.  Much of the Order is directed at increasing competition in the labor market, transportation, agriculture, healthcare, and technology.  It calls on the FTC, the DOJ, and other agencies to pursue vigorous enforcement of the antitrust laws.  The Order also

Following the U.S. Supreme Court’s decision last month in Collins v. Yellin (previously captioned Collins v. Mnuchin), controversy quickly erupted over the decision’s implications for the CFPB in three pending cases: All American Check Cashing and the two cases involving the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule).

In Collins,