Newsletters

04.01.21

Regulation by Blog or Press Release?

In two recent communications, the Consumer Financial Protection Bureau acting director is signaling that the Bureau will vigorously enforce against consumers harmed by short-term lenders that fail to underwrite loans based on the borrowers’ ability to repay them.


01.14.20

CFPB 2019 Year in Review and What to Expect in 2020

The Consumer Financial Protection Bureau (CFPB or Bureau) had an active 2019, and we review the most significant stories here. Likewise, we discuss the likely major developments expected in 2020, leading with the upcoming Supreme Court battle over CFPB constitutionality.


07.03.19

Fair Lending: Lawmakers Concerned About Algorithms; CFPB Issues Report

As a more centrist Consumer Financial Protection Bureau (CFPB) issued a modest annual fair lending report, Democratic lawmakers continue to press a far more aggressive fair lending agenda, as reflected by a letter sent by Sens. Elizabeth Warren (D-Mass.) and Doug Jones (D-Ala.) to the Federal ...


04.24.19

State AGs Keep Busy With Enforcement Actions

Continuing to fill in gaps at the federal level, state attorneys general are keeping busy with enforcement actions, and on issues that might have received more CFPB attention under the old Cordray regime.


04.10.19

California’s DBO: New Leader, New Enforcement, New Bureau?

The California Department of Business Oversight (DBO) will likely have a new commissioner in the coming months, with Affirm General Counsel and Chief Compliance Officer Manuel “Manny” Alvarez tapped to take the helm.


03.27.19

Consumer Finance: Kraninger Testifies, CFPB Reports, DOJ Enforces SCRA

Making headlines in consumer finance news, Consumer Financial Protection Bureau (CFPB or Bureau) Director Kathy Kraninger paid Congress another visit, while the CFPB published its latest Supervisory Highlights, a first-time homebuying servicemembers report and an advanced notice of proposed ...


02.14.19

Auto Dealer Collides With $3M Penalty for Alleged Deception

Think again before you simplify your message to sell more cars. A $3 million fine levied in a case from the New York Department of Consumer Affairs (DCA) tells us why.


01.30.19

State AGs Keep Busy With Financial Services Cases

State attorneys general (AGs) remain busy in the financial services industry, with an almost $500 million settlement between a for-profit college and the AGs of 48 states and Washington, D.C.


08.16.18

FTC Steers Arizona Auto Dealers Into Court

In a new complaint filed in Arizona federal court, the Federal Trade Commission (FTC) charged a group of four auto dealers with a host of illegal activities ranging from misrepresenting and omitting key financial terms in advertisements to falsifying information on vehicle financing applications.


05.24.18

Congress Tosses (Another) CFPB Rule While Constitutionality Battle Continues

In another use of the Congressional Review Act (CRA) to repeal a Consumer Financial Protection Bureau (CFPB or Bureau) rule, lawmakers did away with the Bureau’s Bulletin 2013-02, negating guidance on indirect automobile financing.