CFPB partners with local governments to protect consumers | Troutman pepper
On November 18, the Consumer Financial Protection Bureau (CFPB) published a blog post outlining its…
Browsing: Unfair Lending Practices
The Episcopal Conference works for the common good at the State House
Chuck Weber is the executive director of the Kansas Catholic Conference. He can be reached…
CFPB Files Motion for Writ of Certiorari Seeking Expedited Review of Fifth Circuit Ruling Finding Funding Structure Unconstitutional | Coie Perkins
The Consumer Financial Protection Bureau has survived numerous constitutional challenges since its creation by the…
NICHOLAS FINANCIAL INC MANAGEMENT REPORT ON FINANCIAL POSITION AND RESULTS OF OPERATIONS (Form 10-Q)
Forward-looking information This Quarterly Report on Form 10-Q contains various forward-looking statements within the meaning…
House Democrats propose to end Wall Street’s rent gouging
To help solve the country’s housing crisis while dealing with Wall Street greed, three California…
What is a payday loan and other types of predatory loans?
Financial watchdog groups have raised concerns about predatory lenders taking advantage of low-income Americans who…
Companies and banking groups file a complaint to stop the CFPB’s fight against financial discrimination | Comment
On September 28, two of the largest and most influential business groups in the country…
CFPB, Ministry of Education takes aim at college-sponsored financial products // Cooley // Global Law Firm
On October 13, 2022, the Consumer Financial Protection Bureau (CFPB) published its annual report…
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Funding of US consumer watchdog unconstitutional, court rulings say
Oct 19 (Reuters) – A federal appeals court ruled on Wednesday that the U.S. Consumer…
Consumer Credit Regulatory News and Trends
Below is a summary of enforcement and regulatory actions chosen by state and federal consumer…
CREDIT ACCEPTANCE CORP: Other Events (Form 8-K)
Item 8.01. Other events. credit acceptance company (the “Company”, “Acceptance of Credit”, “we”, “us” or…
CFPB Files Complaint Against Online Lender Alleging MLA Violations
On September 29, 2002, the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit against online…
CFPB Adds Friction to Fintech Inclusion Efforts
Many fintech companies tout their ability to use non-traditional tools to promote financial access to…
Troutman Pepper Consumer Financial Services Weekly Newsletter
To help you keep abreast of relevant activities, below is a breakdown of some of…
Impact of M’sian BNPL regulation on startups, merchants, users
Naturally, the continued relevance of buy-it-now and pay-later services in Malaysia and around the world…
DOJ and CFPB Push Interest Rate Restrictions for Auto Finance
Related practices and jurisdictions Tuesday, September 20, 2022 The U.S. Department of Justice (“DOJ”) and…
Unfair commercial practices | There is no rule that requires SEBI to provide notice to Noticee in its entirety
A bench of the Supreme Court of Judge Indira Banerjee and Justice AS Bopanna heard…
Three Important Things to Know Before Borrowing on Digital Lending Apps
Three Important Things to Know Before Borrowing on Digital Lending AppsDigital lending is one of…
Senate Democrats say buy now, pay later products lack oversight
Senate banking Democrats see the specter of the 2008 financial crisis in emerging tech-based lending…
OCC remains focused on bank/fintech partnerships | Ballard Spahr LLP
Since the start of Michael Hsu’s tenure as Acting Comptroller of the Currency, banking/fintech partnerships…
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India prepares list of approved digital loan apps
A man walks behind the Reserve Bank of India (RBI) logo inside its head office…
In response to China’s initiatives, Japan resumes courting Africa
TOKYO: The eighth Tokyo International Conference on African Development was held in Tunisia last week,…
August 2022 Legal Industry Awards, Law Firm, Women in Law
Thursday, September 1, 2022 Thanks for reading the latest edition of the National Law Review’s…
Lawyers seize TD-First Horizon deal in dismissal plea
The future of the potentially sixth-largest U.S. retail bank hangs on regulators, it’s safe to…
The war in Ukraine has caused a food crisis, say Japanese and African leaders
Tunis– The leaders of Japan and African countries said on Sunday that the ongoing Russian…
We need to have an honest conversation about debt relief and the future of student loans
The Biden administration’s decision to provide student loan debt relief, specifically $10,000 for those earning…
Florida Becomes Latest State to Propose Anti-ESG Legislation | Saul Ewing Arnstein & Lehr LLP
What do you want to know The Governor of Florida announced a bill that would…
Let’s create more affordable housing the right way
Geoff Diehl According to recent studies, Massachusetts is one of many leading states in the…
Money will have to be donated on UPI transaction, RBI has started process to establish rules
Photo:Indian Television Money will have to be donated on UPI transaction, RBI is preparing Strong…
CFPB, DOJ Reach $24.4 Settlement With Mortgage Originator Over Alleged Lending Discrimination – Financial Services
August 12, 2022 Goodwin Procter LLP To print this article, all you need to do…
Oportun allocates nearly $3 million to CFPB settlement on numbers
By Jon Hill (August 9, 2022, 1:08 p.m. EDT) – Online lending company Oportun Financial…
What does Navient’s settlement mean for student borrowers in Colorado?
Nearly 7,000 Coloradans forced into onerous student loan repayment terms can expect to receive checks…
10 regulatory battles you shouldn’t miss | American banker
Financial regulators and Congress are still trying to unite around a unified regulatory framework for…
“A lifetime phenomenon as an athlete” — Andscape
From Jackie Robinson to Muhammad Ali to Colin Kaepernick, sociologist and longtime civil rights activist…
No bargain for you! The Fourth Circuit argues that repayment of loan proceeds is an essential element of cancellation under the Truth in Lending Act | Rosenberg Martin Greenberg LLP
The federal Truth in Lending Act (TILA) is a consumer protection law designed to protect…
GOP Senate candidate Ted Budd sided with payday lenders as he took their PAC donations
North Carolina Republican Rep. Ted Budd opposed protecting consumers from predatory lending, despite his own…
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‘Redlining’ in 1940s Chicago correlates with today’s black exodus
Vacant and abandoned properties clustered on the south and west sides of Chicago and in…
Eleventh Circuit addresses potential conflict between FDCPA and TILA, argues debt collector must comply with both | Carlton Fields
On July 1, 2022, the Eleventh Circuit Court of Appeals issued a decision reported in…
NY Dept. of Financial Services issues overdraft fee guidelines / NSF | Ballard Spahr LLP
The New York State Department of Financial Services (DFS) published a letter to the industry…
Fair Trading Act 1986 protections extend to small businesses – are you ready? | Denton
The new amendments to the Fair Trade Act 1986 (ALE) are fast approaching with the…
Opinion: FHFA language requirements could upend the compliance landscape
Recently, the Federal Housing Finance Agency (FHFA) announced that mortgage lenders will be required to…
Letter: Hayes-Santos’ comments on single-family zoning on local TV were inaccurate and should be removed
An open letter to Gainesville City Commissioner Adrian Hayes-Santos: Last night, July 6, you appeared…
Is it time for a test drive in the Metaverse? | Arent Fox Schiff
Car buying has evolved from the days of brick-and-mortar dealerships to e-commerce, where consumers can…
Why the FTC is now issuing rules for car dealerships
Following the Federal Trade Commission’s proposal for sweeping new regulations on auto dealer price advertising…
The Other Shoe Drops: California DFPI Releases Proposed UDAAP Regulations for Commercial Finance Providers to Small Businesses and Others – Dodd-Frank, Consumer Protection Act
Two weeks after issuing its commercial funding disclosure rule, the California Department of Financial Protection…
The Other Shoe Falls: California DFPI Releases Proposed UDAAP Regulations for Commercial Finance Providers to Small Businesses and Others
Two weeks after issuing its commercial funding disclosure rule, the California Department of Financial Protection…
G7 blasts China for ‘non-transparent and market-distorting’ practices
G7 leaders have signaled that they will seek to extricate themselves from economic dependence on…
Another Colorado Credit Union to Pay GAP Refunds
Source: Adobe Stock. Red Rocks Credit Union this month became the sixth credit union ordered…
Global food crisis: Blame capitalism, not Russia’s war in Ukraine
This move towards large-scale farming and more profitable monocultures made small farmers more dependent on…
Effective oversight of FinTech partnerships
Knowledge For banks today, going digital and adopting fintech is no longer an option but…
Wolters Kluwer Compliance Solutions Hosts Fair Bank Lending Webinar
The third of three special topic regulatory compliance webinars features Timothy Burniston of Wolters Kluwer…
RBI to regulate bigtech and fintech – The New Indian Express
By Express press service BENGALURU: In an effort to provide secure and affordable electronic payments,…
CFPB tells businesses ‘black box’ credit models used by banks, other lenders must not discriminate | Ballard Spahr LLP
[author: Richard Satran] The U.S. Consumer Financial Protection Bureau told the companies it regulates that…
CFPB: The use of complex algorithms is not a legal defense against discrimination
The Consumer Financial Protection Bureau recently warned businesses that under federal anti-discrimination laws they still…
The impossible economic race of black families
As we commemorate June 16 this month, it is important to note that this is…
New policies could help close the racial wealth gap
The single family home has been the primary driver of wealth creation within the middle…
The consumer protection bill focuses on medical debt. It was rebuffed at the committee hearing, despite bipartisan sponsorship | Government and politics
The first hearing of a bipartisan health care consumer protection bill delivered few punches on…
Six Indian infoline workers penalized for spearheading
The Securities and Exchange Board of India (Sebi) on Friday took action against six employees…
Recent Developments in Lending Fair Discrimination as a Violation of UDAAP and Algorithmic Redlining
Since his appointment on October 12, 2021, Consumer Financial Protection Bureau (“CFPB”or the”desk”) Director Rohit…
Why responsible credit is the foundation of sustainable retail
By Therese Byrne, Commercial director, DivideBuy At a time when a perfect storm of economic…
Meet a 34-year-old woman with $250,000 in student debt after barely 13 years of keeping up with her monthly interest payments: ‘I never felt like I could handle it’
At 34, Janell Tryon has a student debt of $250,000. She made just $150,000, including…
CFPB Bites of the Month – May’s Top 10 | Hudson Cook, LLP
In this month’s Top 10 article, we share some of our best “bites” from the…
Carrington Mortgage pays $18 million to end convenience fee suit
By Gina Kim (May 26, 2022, 4:45 p.m. EDT) – Carrington Mortgage Services has agreed…
JPMorgan has pledged $30 billion for racial equity. How much progress has he made?
JPMorgan Chase & Co. made the largest racial equity pledge of any American company in…
New CFPB Interpretive Rule Outlines Expanded State CFPA Enforcement Powers
The CFPB has issued a new interpretative rule regarding the authority of attorneys general and…
How China’s Global Infrastructure Strategy Is Undermining European Integration in the Western Balkans and Beyond – Vindobona.org
The Western Balkan countries – Albania, Bosnia and Herzegovina, North Macedonia, Kosovo, Montenegro and Serbia…
The tips you need to know if you want to do it
On Sunday, the Prime Minister announced that aspiring first-time home buyers will be able to…
Dogecoin – US Dollar (CRYPTO:$DOGE), Tesla Motors, Inc. (NASDAQ:TSLA) – Musk On Housing Bubble Burst: “They’ve Dug Their Own Graves – A Lesson We Should All Take To Heart”
Tesla, Inc. (NASDAQ: TSLA) CEO by Elon Musk eclectic thoughts and views are usually on…
CFPB’s 2021 Fair Lending Report reframes fair lending to include non-discrimination issues UDAAP | Troutman pepper
On May 6, the Consumer Financial Protection Bureau (CFPB or Bureau) released its Fair Lending…
Attention to detail – DSNews
This piece originally appeared in the May 2022 edition of DS News magazine, online now.…
The injustice of the massive cancellation of student loans | To open
“You want to borrow, you have to pay the man.” Rocky Balboa was right, even…
Salceda sees crackdown on illegal online lending and investment scams
By Billy Begas House Ways and Means Committee Chairman Joey Salceda says President Rodrigo Duterte…
Amazon and union face off in rematch election on Staten Island
New York — Amazon and the fledgling group that successfully organized the company’s first-ever U.S.…
“The Opportunity Gap” is here to talk about financial literacy
The American financial system has systemic racism built in. For generations, systems like redline and…
Wells Fargo responds to discriminatory loan allegations
Wells Fargo on Monday responded to allegations of discriminatory lending practices in its mortgage business,…
We can solve the racial wealth gap
Life, liberty and the pursuit of happiness were declared inalienable rights centuries ago. But these…
Bancorp’s new CCO assesses third parties amid fintech boom
By Al Barbarino (April 22, 2022, 4:24 PM EDT) – Bancorp Bank’s new Chief Compliance…
Employers come under CFPB scrutiny over job training reimbursement claims
The Biden administration plans to crack down on employer-mandated training reimbursement agreements that can saddle…
NYS Consumer Protection Bill Provides Necessary Safeguards
When Democrats captured the New York Legislature in 2018, prognosticators predicted that New York would…
Chase Bank Provides Financial Literacy to Milwaukee County Reformatory
By Karen Stokes Superintendent Chantell Jewell For the first time ever, the Milwaukee County Reformatory…
Fintechs tout lower costs as CFPB tackles unwanted bank fees (1)
Online banking apps, “buy now, pay later” services and other fintech innovations will push banks…
CFPB Fines Student Loan Officer $1 Million to Settle Alleged UDAAP Violations | Sheppard Mullin Richter & Hampton LLP
On March 30, the CFPB reached an agreement with a student loan servicer to resolve…
Can an employment contract reduce the risk of a lawsuit? – Employment and HR
Edlin Gallagher Oil + Blum United States: Can an employment contract…
Payday lenders direct borrowers to more expensive repayment options, says CFPB
Ting Shen/Bloomberg via Getty ImagesMany payday loan borrowers are not using the cheapest repayment option…
FTC Announces Settlement with Multistate Automobile Dealership and Chief Executive Over Alleged Unauthorized Fees for Optional Products and Discrimination Against Black Applicants | Hudson Cook, LLP
STRONG POINTS: The Federal Trade Commission (FTC), in conjunction with Illinois, announced a $10 million…
How to make housing a human right a reality
Is housing a human right?Or is it a privilege available only to those who made…
Napleton Automotive Group to pay $10 million in FTC case
Napleton Automotive Group, one of America’s largest dealership groups, will pay a record $10 million…
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California considers protecting sales of predatory cars for the military
SACRAMENTO, Calif. — Enlisted service members would receive an automatic 30-day cooling-off period in California…
SEC flags six online lenders
The Securities and Exchange Commission (SEC) has issued cease and desist orders to six online…
Democracy Crypto Labs | Brownstein Hyatt Farber Schreck
President Joe Biden’s executive order directing agencies to come up with a federal-wide approach to…
Sebi bars promoters DCHL and 2 others from the securities market for up to 2 years
Capital markets regulator, Sebi, banned the promoters of Deccan Chronicle Holdings Ltd (DCHL)…
CFPB seeks to push anti-bias scrutiny beyond fair lending
By Jon Hill (March 16, 2022, 7:30 p.m. EDT) – The Consumer Financial Protection Bureau…
CFPB could crack down on auto lenders in 2022
The Consumer Financial Protection Bureau (CFPB) is increasingly concerned about the rising cost of vehicles.…
Blueridge MFB reassures its customers on the continuation of business operations
In light of news circulating on social media and other microblogging websites about lending platforms…
Why Some Money Lending Banks Were Shut Down By FG
The federal government has explained why its agencies are shutting down some illegal online banks…
OPPFI INC. MANAGEMENT REPORT OF FINANCIAL POSITION AND RESULTS OF OPERATIONS (Form 10-K)
PREVIEW We are a leading mission-driven financial technology platform that powers banks to offer accessible…
Changes to the Safe Lending Act are wider in scope than mortgages
David Verry is a volunteer financial mentor with North Harbor Budgeting Services. He spent 30…
The history of women and credit cards
It has been a long and difficult road to establish gender equality in personal finance.…
New Mexico changes small dollar loan requirements, caps interest rates at 36%
On March 1, the Governor of New Mexico signed HB 132, which amends certain provisions…
What happened to loans between individuals?
Even before Uber disrupted the taxi industry and Airbnb disrupted vacation rentals, the idea of…
SEC caps interest rates charged by loan companies
MANILA, Philippines — The Securities and Exchange Commission (SEC) has issued a memorandum implementing the…
Zest AI Releases New Race Prediction Model to Reduce Systemic Bias in Lending
LOS ANGELES, March 1, 2022 /PRNewswire/ — Zest AI, a leader in AI-powered lending software,…
Aggies in urban planning working to heal the effects of decades of race-based discrimination
Legal segregation and the unfair practices that followed had devastating effects on black prosperity. John…
Biden’s CFPB wants to know how consumers would reform banking and lending rules
Rohit Chopra, director of the Consumer Financial Protection Bureau.David Ryder/Bloomberg via Getty ImagesThe Biden administration…
SEC Notice – Mindanao Times
THE Securities and Exchange Commission (SEC) has ordered PESOBEE, PESO T-SAFE ONLINE CASH, RUSHLOAN, SPENDCASH,…
Anil Ambani, three of his associates and Reliance Home Finance Ltd were banned from the market by Sebi
Market regulator SEBI (Securities Exchange Board of India) has banned Reliance Home Finance Ltd (RHFL),…
Segregated and gentrified housing remains a problem in 2022
Despite 50 years of federal oversight under the Fair Housing Act of 1968, housing segregation…
Buckley promotes six partners
WASHINGTON, February 8, 2022 /PRNewswire/ — Buckley LLP announced that it has promoted Ali Abugheida,…
What is an “unwanted charge?” CFPB investigation sparks backlash from industry
Director of the Consumer Financial Protection Bureau, Rohit Chopra, aroused anger by launching a wide…
China extends its evil tentacles to India, Nepal and Bangladesh as massive financial fraud comes to light
OPED By Vaishali Basu Sharma Since the Covid-19 pandemic, China has been trying to present…
Slovenian banks warn of risks from draft law to change terms of past loans
Slovenian lawmakers will vote on a measure on Monday forcing banks to repay hundreds of…
University of Phoenix’s new Head Ran College closed after fraud lawsuit
The for-profit academic giant the University of Phoenix today named George A. Burnett its new…
100 CT consumers are paid as part of loan company settlement
The federal government says it sent checks to 100 Connecticut residents who lost money due…
CFPB initiative to oversee institutional loans and services – What it means for you | Cooley LLP
What does the Consumer Financial Protection Bureau do? On January 20, 2022, the Consumer Financial…
US FTC Passes First Expanded Use of Gramm-Leach-Bliley Penalty Authority – Consumer Protection
To print this article, all you need to do is be registered or log in…
The Big Business of Bad Auto Loans | Subprime auto lenders
According to a Consumer Reports review of regulatory documents and legal documents, these methods sometimes…
Navient Settles With State AG Coalition Over Alleged Unfair, Deceptive, and Abusive Practices in Originating and Administering Student Loans | Troutman pepper
On Jan. 13, a coalition of 39 state attorneys general — led by attorneys general…
Investors sue Pawnshop Co. after CFPB enforcement action
By Emilie Ruscoe (January 18, 2022, 6:13 PM EST) – Pawnbroker FirstCash Holdings Inc. and…
Navient cancels $1.7 billion in student loans after settlement
article FILE- Photo illustration, the Navient Corporation logo. BOSTON – Navient, a major student loan…