Topics

Accessibility

SCOTUS keeps issue of “tester” standing alive, dismissing ADA website appeal as moot The Supreme Court Keeps Issue of “Tester” Standing Alive, Dismissing ADA Website Appeal as Moot DOJ proposal to increase accessibility of government websites and mobile apps could guide accessibility for places of public accommodation

AMLA of 2020

FinCEN’s Notice of Proposed Regulations to Strengthen and Modernize AML/CFT Compliance Programs: A Podcast Department of Treasury Issues Strategy on De-Risking

Appraisals

Federal judge dismisses high-profile case involving allegations of racial discrimination in appraisals Rocket Mortgage Turns the Table on HUD CFPB/Fed/OCC increase exemption thresholds for appraisal requirement, Regs Z and M

Arbitration

New Study Suggests Investors Place Significant Value on Arbitration Clauses and Class-Action Waivers Supreme Court Reopens Federal Courthouse Doors for Post-Arbitration Proceedings in Stayed Cases Today’s podcast episode: The Future of Shareholder Arbitration in Light of SEC's New Policy Statement

Artificial Intelligence

Agent Provocateur: How AI Shopping Bots Are Testing Retail Legal Boundaries Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec Today's Podcast Episode: AI Liability Comes Into Focus: A Conversation with Mark Geistfeld on the ALI’s Civil Liability Principles Project

Attorney General Privilege

FinCEN Issues Small Entity Compliance Guide for Corporate Transparency Act

Attorney Liability

FinCEN Issues Small Entity Compliance Guide for Corporate Transparency Act

Auto Finance

FTC, Maryland AG reach settlement with Lindsay Automotive Group FTC sends warning letters about pricing to 97 auto groups Fifth Circuit Court of Appeals strikes down FTC CARS Rule

Auto Title Loans

Military Lending Act violations alleged against title lender in Georgia class action "Dormant Commerce Clause" case law continues to evolve California DFPI announces consent order with auto title loan servicer that was subject of “true Lender” investigation

Beneficial Ownership

FinCEN Issues Small Entity Compliance Guide for Corporate Transparency Act

Better Future Forward

CFPB Alleges Income Share Agreements are Extensions of Credit in Results-Oriented Enforcement Action against ISA Originator

BSA/AML

Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec Executive Order Signals Major Shift in Federal Expectations for AML, Customer Identification, and Credit Underwriting Today’s podcast episode: BSA/AML Priorities Under a New Administration

Buy Now Pay Later

Consumer Finance Monitor Podcast Draws Coverage from “Inside the CFPB”: A First for Our Platform Today’s podcast episode: A Deep Dive on BNPL Regulation and Other “Hot” Topics with Max Dubin of the New York DFS Coming Soon: A Must-Listen Conversation with a Key New York Regulator

CADBO

Ballard Spahr to hold Sept. 29 webinar on ramp up in CA consumer financial protection laws with special guests former CFPB Director Richard Cordray and CA Department of Business Oversight General Counsel Bret Ladine CA and NY governors propose expansion of state consumer financial protection regimes

CADFPI

California’s DFPI seeks comments on additional products and services to be registered under the CCFPL California Gov. Newsom signs array of consumer protection bills California Finalizes Registration Requirements for Providers of Earned Wage Access, Other Financial Products and Services

Campus Financial Products

CFPB issues annual report on college credit card agreements CFPB releases seventh annual report to Congress on college credit card agreements CFPB releases report on college credit card agreements

CFPB

New Study Suggests Investors Place Significant Value on Arbitration Clauses and Class-Action Waivers CFPB Issues Guidance on Consideration of Immigration Status Based on Ability to Repay Requirements Without Providing Sufficient Detail to Assist Creditors Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec

CFPB Enforcement

Today’s podcast episode: Consumer Protection, Democracy, and the CFPB: A Thought-Provoking Debate with Amelia O’Rourke-Owens CFPB’s OIG investigating current workforce and contracting developments plus interpretations adopted and enforcement actions taken under then Director Chopra Today’s podcast episode: A Sea Change in New York Consumer Protection Law: Inside the FAIR Act

CFPB Exams

CFPB examiners to read ‘Humility Pledge’ when they begin exams CFPB rescinds enforcement, supervisory priority documents, outlines new priorities for 2025 CFPB inaction harming state consumer protection efforts, Democratic AGs allege in amicus brief

CFPB General

Fed transfers funds to CFPB for agency operations Former New Jersey Attorney General Matt Platkin Launches Law Firm to Continue Fighting for the Public Good CFPB Releases Gold Science Standard Report

CFPB People

Trump Nominates Brian Johnson to Lead CFPB: A Strong Choice, But Is There Another Reason for the Timing?CFPB to end employee telework Paoletta to replace Vought as CFPB Acting Director

CFPB Rulemaking

Advocacy Groups and Private Companies File Lawsuit Against Revised ECOA Rule CFPB Finalizes Revised 1071 Rule CFPB’s OIG investigating current workforce and contracting developments plus interpretations adopted and enforcement actions taken under then Director Chopra

CFPB Supervision

CFPB’s OIG investigating current workforce and contracting developments plus interpretations adopted and enforcement actions taken under then Director Chopra Today’s podcast episode: CFPB Supervision Reset? What Banks and Non-Banks Should Know About the Emerging Examination Landscape Trump Administration says CFPB has cost consumers hundreds of billions of dollars

Climate change

Today's podcast episode: Opportunities in the Solar Finance Industries Despite Trump 2.0 Today’s podcast episode: Sustainability Spotlight – A Conversation With Chart Industries, Inc.New York DFS Issues Guidance on Climate Change Risks for Financial Institutions

Colorado Student Loan Servicing Act

Webinar: Understanding the 10th Circuit’s Colorado Opt-Out Decision Colorado Private Education Lender Registration Takes Effect September 1, and Schools Using Income Share Agreements Are Covered

Commercial Financing

An update on NYC DWCP ‘Junk Fee, Subscription Trap’ and other initiatives Connecticut Department of Banking issues guidance on consumer-like disclosures in sales-based financing offers Bill to license commercial lenders proposed in New York

Community Banks

OCC, Federal Reserve, and FDIC Finalize Revisions to the Community Bank Leverage Ratio Framework Executive Order Seeks to Promote Mortgage Lending by Community and Smaller Banks Through Easing Regulatory Requirements OCC Issues Two Final Rules to Reduce Regulatory Burden on Community Banks (National Banks and Federal Savings Associations and Banks)

Consumer Bankers Association

Bank associations seek a preliminary injunction to block CFPB overdraft rule This week’s podcast episode: Post-Election Insights: Impacts on the Banking and Consumer Financial Services Industry New research suggests proposed Regulation II revisions lowering debit card interchange fees will cost consumers up to $2 billion annually

Corporate Transparency Act

FinCEN Issues Small Entity Compliance Guide for Corporate Transparency Act

Correspondent Bank Accounts

Department of Treasury Issues Strategy on De-Risking

COVID-19

CFPB Releases Mortgage Servicing Report on Borrower Experiences During the COVID-19 Pandemic HUD Finalizes Rule Providing for 40-Year FHA Loan Modifications CFPB and DOJ send joint letters to landlords and mortgage servicers on CARES Act and SCRA protections

Credit Cards

CFPB Issues Guidance on Consideration of Immigration Status Based on Ability to Repay Requirements Without Providing Sufficient Detail to Assist Creditors Illinois Interchange Fee Litigation Takes important Turn: OCC Rule Leads Court to Enjoin Core IFPA Interchange Fee Restrictions OCC Doubles Down on Interchange Fee Preemption Against the Backdrop of High-Stakes Seventh Circuit Litigation and a Post-Loper Bright World

Credit Reports

Senator Hawley Investigating FICO Credit Score Pricing Practices and Urging FTC to Investigate as Well CFPB says FCRA prohibits states from regulating content of credit reports TransUnion subsidiary Argus Information and Advisory Services agrees not to seek business with CFPB for three years

Crypto

Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec Today's podcast episode: Significant 2025 Deregulatory Developments in Banking Law Today's podcast episode: The GENIUS Act and the Future of Stablecoins: What Banks and Fintechs Need to Know - Part 2

Cyber Currency

FHFA directs Fannie Mae, Freddie Mac to develop plans to use cryptocurrency as assets without conversion to dollars BSA Filings and Their Utility to Law Enforcement: A Guest Blog OCC highlights risks associated with compliance staffing concerns, Russia sanctions, environmental crimes, cyber attacks and digital assets

Cybersecurity

CFPB Inspector General says bureau’s information security program is ineffective FHA issues revised cybersecurity requirements CPPA publishes new draft regulations addressing AI, risk assessments, cyber audits

Data Security

Illinois Interchange Fee Litigation Takes important Turn: OCC Rule Leads Court to Enjoin Core IFPA Interchange Fee Restrictions GLBA Modernization Legislation: Key Implications for Financial Institutions’ Data Practices Last week’s podcast episode: Navigating the New CFPB Open Banking Rule

De-Risking

Department of Treasury Issues Strategy on De-Risking

Debit Cards

On your mark, get set, go! plaintiff’s attorneys await April 1 for California’s new gift card law to take effect Court grants partial injunction for National Banks and Federal Savings Associations in the lawsuit challenging the Illinois Interchange Fee Prohibition Act Industry groups file motion to intervene in Corner Post debit card interchange case

Debt Collection

Today’s podcast episode: Debt Sales 101 Mini-Series — Episode 6: After the Close: Compliance, Oversight, and Ongoing Risk Today’s podcast episode: Debt Sales 101 Mini-Series — Episode 5: Closing the Deal: Key Contracting and Transaction Issues Today’s podcast episode: Debt Sales 101 Mini-Series — Episode 4: The Regulatory Landscape for Debt Sales Today

Debt Collection NPRM

Rumor Has It That Publication Of The CFPB’s Final Collection Rules Is Imminent Update on recent non-COVID-19-related consumer financial services legal developments CFPB extends comment period for supplemental debt collection proposal; states take emergency SOL actions

Debt Relief

Today's podcast episode: Debt’s Grip: What Consumer Bankruptcy Reveals About Financial Risk in America CFPB takes action to ban Student Loan Pro from offering consumer financial products FTC bans group of student loan debt relief scammers from debt relief industry

Deposit Accounts

FDIC Proposes Revisions to Brokered Deposits Rule Minnesota federal court dismisses lawsuit against FDIC over NSF fee guidance Ballard Spahr to hold March 5 webinar on proposed rules on overdraft and NSF fees

Deposit Advance Loans

Today’s podcast episode: DIDMCA Opt-Outs Resurface: Oregon Legislation and the Colorado Case Could Alter the Landscape for Interstate Lending by State Banks House Financial Services Committee passes bill to ease restrictions on bank small-dollar loans OCC reacts to CFPB’s final payday loan rule by rescinding its deposit advance product guidance

Dept. of ED

Supreme Court allows Education Department to fire employees; Is CFPB Staff Next?This week's podcast episode: Recent developments affecting student loan origination and servicing SCOTUS holds Biden lacks authority for $430 billion loan cancellation plan

Dept. of Education

Eighth Circuit Broadens Injunction Prohibiting Implementation of SAVE Federal Student Loan Repayment Plan, Calls Into Question Legality of PAYE and REPAYE Forgiveness Provisions CFPB, DoJ take action in redlining cases Department of Education Faces Major Setback in SAVE Litigation

Dept. of Justice

Justice Department and State of Texas settle allegations against Colony Ridge CFPB and DOJ withdraw joint statement on consideration of immigration status under ECOA Webinar: The CFPB’s Funding Crisis — What It Means for the Future of Consumer Financial Protection

Digital Assets

FHFA directs Fannie Mae, Freddie Mac to develop plans to use cryptocurrency as assets without conversion to dollars California Reconsidering the “Digital Financial Assets Law”DOJ Issues Report on Digital Asset Law Enforcement Seeking Expansive New Powers, and Launches New Crypto Prosecutor Network

Digital Currency

FHFA directs Fannie Mae, Freddie Mac to develop plans to use cryptocurrency as assets without conversion to dollars House steering panel chooses French Hill as next Financial Services Chair OCC highlights risks associated with compliance staffing concerns, Russia sanctions, environmental crimes, cyber attacks and digital assets

Digital Payment Access

CFPB and European Commission Report on Coordinated Efforts Concerning Consumer Financial Protection and Identify Emerging Technologies as an Area of Shared Interest

Diversity and Inclusion

Appeals Court stays small business reporting rule for many financial institutions Republicans renew efforts to repeal Section 1071 CFPB Issues Matched Pair Testing Report on Small Business Lending

Earned Wage Access

Maryland enacts Earned Wage Access legislation CFPB revokes EWA advisory opinion DC Attorney General files suit against app-based lender EarnIn

Elder Financial Abuse

FinCEN issues reminder to financial institutions to identify and report elder financial exploitation FinCEN issues analysis of increasing elder financial exploitation “Pig Butchering”: FinCEN Issues Alert on Virtual Currency Scam

Electronic Contracting

This week's podcast episode: Electronic contracting: the new Restatement of Consumer Contracts and other emerging regulatory and litigation issues, with special guest Florencia Marotta-Wurgler, Professor, New York University Law School, and Restatement Co-Reporter

Electronic Payments

CFPB settles action against processor of mortgage payments for erroneous processing of payments and deficient information security practices Democratic Senators send letter to federal banking agencies raising concerns about fraudulent transactions CFPB issues report on delivery of public benefits payments

Fair Credit

Today's podcast episode: Residential Solar Finance Under Intensifying Scrutiny: Key Regulatory and Litigation Trends Senator Hawley Investigating FICO Credit Score Pricing Practices and Urging FTC to Investigate as Well CFPB Spring 2025 Regulatory Agenda – Prerule Stage – Identity Theft and Coerced Debt (Regulation V)

Fair Lending

Advocacy Groups and Private Companies File Lawsuit Against Revised ECOA Rule CFPB’s Final Rule Recalibrates Fair Lending Enforcement: A Return to Clarity and Core Statutory Principles Today’s podcast episode: DIDMCA Opt-Outs Resurface: Oregon Legislation and the Colorado Case Could Alter the Landscape for Interstate Lending by State Banks

FCC

Trump takes control of ‘independent agencies’Appeals Court strikes down FCC telemarketing, robocall rule that required specific consent FCC sets April 11 as effective date for new robocall rules

FDIC

FDIC Files Amicus Brief Supporting Challenge to Colorado’s Opt-Out Interest Rate Law Banking agencies update interagency documents to remove reputational risk references OCC, Federal Reserve, and FDIC Finalize Revisions to the Community Bank Leverage Ratio Framework

FDIC Enforcement

FDIC rescinds guidance governing re-presentment of same transaction FDIC, OCC adopt debanking final rule Bipartisan group of Senators re-introduces banker ‘clawback’ legislation

FDIC Supervision

FDIC rescinds guidance governing re-presentment of same transaction FDIC, OCC adopt debanking final rule Bipartisan group of Senators re-introduces banker ‘clawback’ legislation

Federal Agencies

Government shutdown affecting housing programs, but not financial regulators Today’s podcast episode: A Deep Dive into the Fight for the CFPB’s Survival Republican senators ask financial regulators to overhaul Matters Requiring Attention process

Federal Reserve Board

Banking agencies update interagency documents to remove reputational risk references CAMELS Reform Arrives: Federal Regulators Propose Sweeping Supervisory Changes Warsh to be sworn in as Fed Chair on May 22

Financial Crimes Enforcement Network (FINCEN)

Today's podcast episode: Residential Solar Finance Under Intensifying Scrutiny: Key Regulatory and Litigation Trends Today’s podcast episode: A National Strategy to Prevent Scams – “United We Stand”Financial institutions may rely on third parties for Social Security, Taxpayer Identification Numbers

Financial Literacy

Today’s podcast episode: A National Strategy to Prevent Scams – “United We Stand”Fed reported to have reservations about fintech charter CFPB issues fifth Financial Literacy Annual Report

FinCEN

Executive Order Signals Major Shift in Federal Expectations for AML, Customer Identification, and Credit Underwriting FinCEN proposes rule to increase whistleblower incentives FinCEN’s Proposed Rule to Reform Financial Institution AML/CFT

Fintech

Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec California Court Issues Final Statement of Decision Rejecting DFPI “True Lender” Theory Against OppFi White House Executive Order Signals Major Shift in Federal Policy for Fintechs and Payment Systems

Flood Insurance

NFIP reauthorization included in spending bill Banks may still make loans that would otherwise be subject to flood insurance even though program has lapsed, regulators say NFIP authorization expires Sept. 30

FTC

FTC obtains restraining order against mortgage relief assistance operation StubHub to pay $10 million for failing to disclose full price of tickets FTC, Maryland AG reach settlement with Lindsay Automotive Group

FTC Enforcement

FTC, Maryland AG reach settlement with Lindsay Automotive Group FTC sends debanking letters to PayPal, Stripe, Visa, Mastercard FTC sends warning letters about pricing to 97 auto groups

General

Ballard Spahr’s Consumer Financial Services Group Earns National Recognition Again from Chambers USA in 2026 Introducing the Institute for Consumer Financial Choice: A New Voice for Research, Policy, and Consumer Choice Ballard Spahr Lawyer Adam Maarec Admitted as Fellow of the American College of Consumer Financial Services Lawyers

GLBA

GLBA Modernization Legislation: Key Implications for Financial Institutions’ Data Practices CFPB suggests that state privacy laws can—and should—regulate financial data Kansas Passes an Act Requiring Mortgage Companies, Supervised Lender, and Money Transmitters to Create Information Security Standards Consistent with GLBA’s Consumer Information Safeguard Rule

HMDA

2025 HMDA Modified Loan Application Register Data Published CFPB Adjusts HMDA Asset Exemption Threshold 2024 HMDA Modified Loan Application Data Published

Hot Issues

Today’s podcast episode: A Deep Dive on BNPL Regulation and Other “Hot” Topics with Max Dubin of the New York DFS Register Now for the National Institute on Consumer Financial Services Basics Businesses Now Face ADA Risk Related to COVID-19 Mandatory Employee Mask-Wearing Policies

HUD

HUD Revised Foreclosure Bidding Process for FHA Loans HUD proposes to remove its Fair Housing Act disparate impact rule HUD Recently Announced the 2026 Loan Limits for FHA Forward Mortgages and HECMs

Identity Theft

Today’s podcast episode: White House Executive Order on Scams and Fraud Takes Center Stage Today’s podcast episode: A National Strategy to Prevent Scams – “United We Stand”CBA weighs in on the CFPB’s proposed expansion of what constitutes a credit report

Income Share Agreements

CFPB Takes Action Against BloomTech, Inc. for ISAs that Violate TILA, UDAAP, and the FTC’s Holder Rule CFPB settles claims against operator of training program arising out of income share agreements NJAG and FTC announce $4.605 million settlement with for-profit college over job placement rate claims and income share agreements

Lead Generation

CFPB Press Release and Circular cite “abusive” steering practices in connection with comparison-shopping tools and lead generators Ballard Spahr to hold Feb. 20 webinar on TCPA developments impacting consent and lead generation New FCC rule on TCPA consent for advertising and telemarketing calls and texts will significantly impact callers who obtain consent from lead generators

Limited English Proficiency

Judge refuses to dismiss most reverse discrimination counts in case against Colony Ridge CFPB publishes language access plan for consumers with limited English proficiency DOJ Settles Redlining Claims in Rhode Island

Litigation and Court Decisions

Advocacy Groups and Private Companies File Lawsuit Against Revised ECOA Rule California Court Issues Final Statement of Decision Rejecting DFPI “True Lender” Theory Against OppFi Round Two in Cantero: New Cert Petition Seeks Supreme Court Resolution of Mortgage Escrow Interest Circuit Split regarding National Bank Act Preemption

Machine Learning

This week's podcast episode: CFPB Director Chopra’s targeting of “digital” or “algorithmic” redlining: What it means for providers of technology and consumer credit

Manufactured Housing

House Financial Services Committee schedules Oct. 11 mark-up of "Madden fix" bill CFPB manufactured housing white paper may presage future regulation

Marketplace Lending

NYDFS calls for application of NY usury limits to all online lending and more regulation in online lending report NYDFS sends survey request to online lenders Bipartisan bill to provide "true lender" fix introduced in House

Military Issues

CFPB reaches settlement with FirstCash in connection with alleged MLA Violations DOJ and CFPB Remind Institutions of Rate Protections for Servicemembers VA proposes changes to loan reporting and guaranty loss rules

Mobile Payments

House Financial Services Committee announces January hearings on CRA, “rent-a-bank schemes,” mobile payments The ABA Responds on Mobile Financial Services (Plus, Apple Inc.’s “Response”)CFPB to hold June 12 field hearing on mobile financial services

Money Services Business

Department of Treasury Issues Strategy on De-Risking

Money Transfers

CFPB Spring 2025 Regulatory Agenda – Final Rule Stage – Remittance Transfer Rule (Regulation E)CFPB Publishes Consumer Response Annual Report FinCEN Advisory Highlights Money Laundering Risks Related to Fentanyl Trafficking

Money Transmission

Today’s podcast episode: A Debate About The Need, If Any, For a Federal Charter for Non-Banks Engaged in the Payments Business PA Department Of Banking And Securities: virtual currency is “money”Wisconsin and Maine enact Model Money Transmission Modernization Law

Mortgage Servicing

VA Announces Launch of New Partial Claim Program to Help Protect Veterans from Foreclosure with VA Home Loans HUD Revised Foreclosure Bidding Process for FHA Loans Congress Passes Legislation to Help Protect Veterans from Foreclosure by Reauthorizing Partial Claims with VA Home Loans

Mortgages

FTC obtains restraining order against mortgage relief assistance operation CFPB Issues Guidance on Consideration of Immigration Status Based on Ability to Repay Requirements Without Providing Sufficient Detail to Assist Creditors VA Announces Launch of New Partial Claim Program to Help Protect Veterans from Foreclosure with VA Home Loans

NCUA

NCUA Issues Interim Final Rule Clarifying Federal Credit Union Authority to Charge Non-Interest Fees and Preempt State Regulation Banking agencies update interagency documents to remove reputational risk references Trump nominates John Crews to serve on NCUA board

Non-sufficient funds fees

FDIC rescinds guidance governing re-presentment of same transaction NCUA Increases Scrutiny of Overdraft, NSF, and RDI Fees Michigan federal court shuts down class action against Flagstar Bank for so-called “surprise overdraft” fees and multiple NSF fees on re-presentments

Not-For-Profits

Department of Treasury Issues Strategy on De-Risking

NSF fees

NY State Department of Financial Services issues proposed overdraft rule California Gov. Newsom signs array of consumer protection bills Minnesota Bankers Association appeals dismissal of lawsuit against FDIC over NSF fee guidance

NYDFS

Coming Soon: A Must-Listen Conversation with a Key New York Regulator New York publishes Buy Now, Pay Later Rules NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

OCC

OCC Files Amicus Brief Supporting Challenge to Colorado’s Opt-Out Law and Defending Longstanding Interest-Rate Exportation Principles Banking agencies update interagency documents to remove reputational risk references OCC Finalizes Rules Confirming Preemption of State Mortgage Interest-on-Escrow Laws

OHDFI

Amendments to Ohio’s Administrative Rules Relating to Residential Mortgage Lending

Overdrafts

Senate adopts resolution to nullify CFPB overdraft rule House Committee adopts resolution to nullify CFPB overdraft rule NCUA Rescinds Policy to Publish Credit Unions’ Overdraft and NSF Income

Payday Lending

New York AG sues payday lenders MoneyLion and DailyPay Appeals Court sets March 30, 2025 as effective date of CFPB payday lending rule Appeals court denies en banc hearing in CFSA’s challenge to CFPB’s payday rule

Payments

NY Attorney General sues Early Warning Services for Zelle Network’s lax security measures Today’s podcast episode: A Debate About The Need, If Any, For a Federal Charter for Non-Banks Engaged in the Payments Business CFPB issues final rule to give bureau supervisory power over digital consumer payment applications

Podcasts

Today's Podcast Episode: Coerced Debt: New York’s Landmark Law and Emerging Trends Nationwide - Part 1 Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec Today’s podcast episode: Consumer Protection, Democracy, and the CFPB: A Thought-Provoking Debate with Amelia O’Rourke-Owens

Preemption

U.S. Chamber of Commerce Amicus Brief Urges Tenth Circuit to Reject Presumption Against Preemption in Colorado DIDMCA Case OCC Finalizes Rules Confirming Preemption of State Mortgage Interest-on-Escrow Laws Seventh Circuit Hits Reset Button in Illinois Interchange Fee Litigation After OCC “Doubles Down” on Federal Preemption under the National Bank Act

Prepaid Cards

DC federal court vacates CFPB’s prepaid card short-form disclosure for digital wallet products CFPB issues report on delivery of public benefits payments D.C. Circuit rules CFPB prepaid card rule does not mandate use of “model clause”

Privacy

U.S. House Committee releases SECURE Data Act to establish new federal privacy framework CFPB suggests that state privacy laws can—and should—regulate financial data FHA Requiring Reporting of Significant Cybersecurity Incidents

Private Education

CFPB Alleges Income Share Agreements are Extensions of Credit in Results-Oriented Enforcement Action against ISA Originator

Proposed Rulemaking

New York City’s “Click-to-Cancel” Proposal Signals a New Era in Subscription Regulation OCC Proposes to Clarify Activities Permissible for National Trust Banks CFPB Restores CSI Treatment of “Pose Risk” Decisions

Recess Appointment

U.S. Supreme Court likely to rule on cert petition in NLRB v. Noel Canning at June 20 Conference Update: Third Circuit recess appointment decision ups the ante on certiorari

Regulation Z

Trade Associations Sue CFPB on Same Day as it Issues Final Open Banking Rule Under Section 1033 of Dodd-Frank CFPB/Fed/OCC increase exemption thresholds for appraisal requirement, Regs Z and M Case in which CFPB came to financial institutions' defense dismissed

Regulatory and Enforcement

Today’s podcast episode: Fireside Chat with Simon Taylor and Adam Maarec Today’s podcast episode: Consumer Protection, Democracy, and the CFPB: A Thought-Provoking Debate with Amelia O’Rourke-Owens CAMELS Reform Arrives: Federal Regulators Propose Sweeping Supervisory Changes

Remittance Transfers

CFPB Spring 2025 Regulatory Agenda – Final Rule Stage – Remittance Transfer Rule (Regulation E)CFPB orders remittance transfer provider to pay almost $2.5 million for alleged illegal activities CFPB proposes ‘narrow’ amendment to disclosure requirements for international remittances and money transfers

Research

CFPB to Participate in FTC Workshop on Consumer Disclosures FOIA Lawsuit Filed Challenging CFPB Research Methodology CFPB Issues Study on Credit Reports; Next Steps are Unknown

RESPA

DC Attorney General Settles with Four Title Company Joint Venture Organizers CFPB Highlights Applicable HUD-Issued RESPA Guidance 4th Circuit Rules Plaintiffs Have No Standing to Sue Based on Mere RESPA Statutory Violation Claim

Richard Cordray

CFPB urges more consumer control over payment methods D.C. Circuit poised to decide constitutionality of CFPB structure in PHH case Trump's DOJ supports striking Cordray's removable-only-for-cause protection from Dodd-Frank

Risk Assessment

Three Members of Congress and U.S. Treasury Express Concerns that Florida Law Prohibiting Banks from Considering Customers’ Business Sectors or Political or Religious Beliefs Conflicts with Federal AML/CFT Requirements Federal Banking Agencies Issue NPRM Consistent with FinCEN’s AML/CFT Modernization Proposal Department of Treasury Issues Strategy on De-Risking

S.2155

Congress Passes Legislation Addressing VA Refinance Loan Issues House Passes Bill to Address Unintended Ginnie Mae Securitization Issue Created by S.2155 S.2155 Does Not Facilitate Discriminatory Lending

SBREFA panel

Chamber of Commerce suggests issues for CFPB to address at May 5 arbitration field hearing

Section 1071

CFPB Finalizes Revised 1071 Rule Webinar: The CFPB’s Funding Crisis — What It Means for the Future of Consumer Financial Protection Section 1071 Rule Proposed Amendments—A Deeper Dive

Small Business

CFPB Finalizes Revised 1071 Rule Today's podcast episode: The Consumerization of Small Business Lending: Federal and State Regulations Accelerate Section 1071 Rule Proposed Amendments—A Deeper Dive

Small Dollar Loans

Trade groups challenging CFPB payday loan rule file opening brief with Fifth Circuit Texas federal court denies trade groups’ motion to extend stay of payment provisions compliance date until appeal resolved; trade groups ask Fifth Circuit to extend stay CFPB files opposition to trade groups’ motion to extend stay of payment provisions compliance date until appeal resolved; trade groups file response

Small-dollar loans

Appeals court denies en banc hearing in CFSA’s challenge to CFPB’s payday rule Nevada enacts amendments regarding working from remote locations for Installment Loan Company licensees and collection of medical debt This week's podcast episode: A close look at the recent study of the effects of Illinois' 36% “all-In” interest rate cap on small-dollar credit availability, with special guest Tom Miller, Professor of Finance, Mississippi State University, and study co-author

State Attorneys General

Today's Podcast Episode: Coerced Debt: New York’s Landmark Law and Emerging Trends Nationwide - Part 1 NCUA Issues Interim Final Rule Clarifying Federal Credit Union Authority to Charge Non-Interest Fees and Preempt State Regulation Prominent Consumer Credit Scholars and Center for Individual Freedom File Amicus Brief Supporting Plaintiffs in Colorado Opt-out Appeal

State Enforcement

Amid increased complaints, Illinois launches new consumer complaint portal NYDFS says disparate impact remains in effect California Governor Newsom taps former CFPB Director Rohit Chopra to lead regulatory super agency

State Licensing

Louisiana earned wage access law goes into effect New York Gov. Hochul signs legislation that includes BNPL Licensing Requirements and other Consumer Protection Provisions Ballard Spahr launches State Attorneys General Consumer Response Team to respond to state issues

State Regulation

Today's Podcast Episode: Coerced Debt: New York’s Landmark Law and Emerging Trends Nationwide - Part 1 NCUA Issues Interim Final Rule Clarifying Federal Credit Union Authority to Charge Non-Interest Fees and Preempt State Regulation Prominent Consumer Credit Scholars and Center for Individual Freedom File Amicus Brief Supporting Plaintiffs in Colorado Opt-out Appeal

Student Loan Equity Act

Colorado Private Education Lender Registration Takes Effect September 1, and Schools Using Income Share Agreements Are Covered

Student Loans

CFPB Private Education Loan Ombudsman receives record number of complaints Podcast episode: Student Lending Legislation and Litigation: 2025 Mid-Year Review Massachusetts AG reaches settlement with student loan company, Earnest Operations LLC

TCPA

Federal Judge issues injunction against student loan servicer Superior Servicing Supreme Court accepts case seeking to determine whether district courts must accept FCC’s interpretation of TCPA This week's podcast episode: Telephone Consumer Protection Act update: Developments impacting consent and lead generation

Technology

Today's podcast episode: Opportunities in the Solar Finance Industries Despite Trump 2.0 BSA Filings and Their Utility to Law Enforcement: An Industry Viewpoint This week's podcast episode: Using financial technology to improve consumers' financial health, a conversation with special guest Leigh Phillips, President and CEO of SaverLife and Chair of the CFPB's Consumer Advisory Board (CAB)

Telemarketing

Appeals Court strikes down FCC telemarketing, robocall rule that required specific consent FTC Agrees to Settlement with Lead Generator Banning Telemarketing and Robocall Activities Pennsylvania Attorney General files lawsuit against lead generator for role in assisting unlawful telemarketing calls

TILA / RESPA

Today's podcast episode: Residential Solar Finance Under Intensifying Scrutiny: Key Regulatory and Litigation Trends CFPB Adjusts HPML Asset Exemption Threshold Putative Class Action Lawsuit Filed Against loanDepot Alleging Loan Originator Compensation Rule Violations

Title Insurance

DC Attorney General Settles with Four Title Company Joint Venture Organizers 4th Circuit Rules Plaintiffs Have No Standing to Sue Based on Mere RESPA Statutory Violation Claim House Passes Bill to Amend TRID Rule Disclosures

TRID

CFPB Approves Trial Disclosure Program Waiver Template Application for Construction-to-Permanent Loans CFPB seeks input on construction and construction-to-permanent loan trial disclosure sandbox application CFPB Publishes TRID FAQ’s and a Factsheet on Treatment of Title Insurance Premiums

Trump Administration

Trump nominates John Crews to serve on NCUA board White House Executive Order Signals Major Shift in Federal Policy for Fintechs and Payment Systems NYDFS says disparate impact remains in effect

UDAAP

Today’s podcast episode: Consumer Protection, Democracy, and the CFPB: A Thought-Provoking Debate with Amelia O’Rourke-Owens Today’s podcast episode: Debt Sales 101 Mini-Series — Episode 4: The Regulatory Landscape for Debt Sales Today Is There Legal Authority for Trump’s “Debanking” Executive Order?

UDAP

An update on NYC DWCP ‘Junk Fee, Subscription Trap’ and other initiatives Today’s podcast episode: Agentic AI in Consumer Financial Services: Opportunities, Risks, and Emerging Legal Frameworks This week’s podcast episode: State fair access and debanking laws bring country’s political and cultural divisions to the fore

Uncategorized

FTC obtains restraining order against mortgage relief assistance operation

Uniform Consumer Credit Code

Colorado Private Education Lender Registration Takes Effect September 1, and Schools Using Income Share Agreements Are Covered

Usury

Twenty-One States File Amicus Brief Supporting Challenge to Colorado’s Effort to Regulate Interest Rates Charged by Out-of-State State Banks FDIC Files Amicus Brief Supporting Challenge to Colorado’s Opt-Out Interest Rate Law Banking Trade Groups Urge Tenth Circuit to Reject Colorado’s Attempt to Apply Its Usury Laws to Interstate Loans Made by Out-of-State State Banks

Vehicle Loans

CFPB highlights potential impact of high vehicle costs on consumers with deep subprime credit scores Trump Administration Plans to End Military Lending Act Prohibition on Offering GAP Insurance to Service Members in Auto Loan Transactions New York City adopts new requirements for used car dealers

Virtual Currency

Treasury Issues NPRM on State Oversight of Stablecoin Issuers Under the GENIUS Act PA Department Of Banking And Securities: virtual currency is “money”California Reconsidering the “Digital Financial Assets Law”

Webinars

Webinar: Understanding the 10th Circuit’s Colorado Opt-Out Decision Webinar: The CFPB’s Funding Crisis — What It Means for the Future of Consumer Financial Protection