07.18.18
Pursuant to a consent order with eight state financial regulators, Equifax agreed to take corrective actions following its record-breaking 2017 data breach, but avoided paying any fines or penalties.
A group of state attorneys general reached out to congressional leadership, pushing back against the Madden fix legislation pending in the U.S. House of Representatives.
California Attorney General Xavier Becerra announced a lawsuit against Navient Corp. and its subsidiaries on behalf of the estimated 1.5 million borrowers living in the state, alleging misconduct in the servicing and collection of federal student loans.
07.13.18
With the July 11 announcement by Deputy Attorney General Rod Rosenstein of the new Department of Justice (DOJ) Task Force on Market Integrity and Consumer Fraud comes the obvious question: How will this task force affect the ongoing role of the Bureau of Consumer Financial Protection(CFPB); the ...
07.05.18
Consumer lenders doing business in California will be subject to the new consumer privacy requirements by 2020, under California’s version of the General Data Protection Regulation (GDPR).
The future of the Bureau of Consumer Financial Protection (CFPB) remains uncertain, as the nomination of a permanent director turned controversial, and a New York federal court ruled its structure unconstitutional.
In another news-heavy cycle, the Bureau of Consumer Financial Protection (CFPB) released a report on year-end credit card borrowing, dropped a potentially major RESPA-based investigation on co-marketing practices, and reached two major settlements.
Concerns about “regulation by enforcement” continue to make headlines as Rep. Blaine Luetkemeyer (R-Missouri) reached out to federal financial regulators to encourage a halt to this “unsettling trend.”
The California Department of Business Oversight (DBO) released a pair of reports on installment consumer lending for 2017, finding that the combined dollar amount of installment consumer loans by nonbanks in the state fell almost 10 percent over the prior year.
In testimony before both houses of Congress, Office of the Comptroller of the Currency (OCC) Comptroller Joseph M. Otting shared with lawmakers his priorities for the federal bank regulatory agency.