The CFPB recently announced the publication of the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Data for 2023. The data is available on the Federal Financial Institutions Examination Council (FFIEC) website. As was the case with the 2022
Ballard Spahr LLP
Ballard Spahr LLP is a Philadelphia-based law firm of more than 500 lawyers practicing throughout the United States in the areas of litigation, business and finance, intellectual property, public finance, and real estate. The firm is one of the largest in the United States according to The American Lawyer.
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CFPB encourages New York to ban unfair or abusive conduct
On March 19, 2024, the Consumer Financial Protection Bureau (“CFPB”) published a blog touting letters it has sent to New York Governor Kathy Hochul, New York State Senate leaders, and New York State Assembly leaders to highlight the importance…
Webinar Recording – Your Data, My Headache: Consumer Health Data Laws
In this month’s webcast, Greg Szewczyk and Kelsey Fayer of Ballard Spahr’s privacy & data security group, discuss new state consumer health data laws in Connecticut, Nevada, and Washington; highlighting the laws’ scope, obligations for regulated entities, and enforcement
Court denies motion for expedited consideration of plaintiff’s preliminary injunction motion in credit card late fees suit
On March 20, 2024, the court forcefully denied the motion for expedited consideration of plaintiff’s preliminary injunction motion in the lawsuit challenging the Consumer Financial Bureau’s (“CFPB”) final credit card late fee rule. Plaintiffs, including the U.S. Chamber of…
This week’s podcast episode: Telephone Consumer Protection Act update: Developments impacting consent and lead generation
New Federal Communications Commission TCPA rules will mean big changes for businesses, particularly comparison shopping websites, lead generators, and other companies that regularly contact consumers via phone or text message. This episode repurposes a recent webinar. After reviewing TCPA consent…
CA DFPI Issues Notice of Proposed Rulemaking under Debt Collection Licensing Act
On February 9, 2024, the Commissioner of the California Department of Financial Protection and Innovation (“DFPI” or “Department”) announced a proposed rulemaking limited to certain requirements related to reporting and assessments under the Debt Collection Licensing Act (“DCLA”). It has…
Operational impacts of the new CFPB Credit Card Late Fee Rule
On March 5, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final credit card late fee rule (the “Final Rule”), which, amongst other things, significantly reduces the late fee safe harbor cap for issuers other than “smaller card issuers”…
Judicial Conference issues policy regarding random assignment of judges
On March 12, 2024, the Judicial Conference of the United States (“Judicial Conference”) announced that, in an effort to limit the ability of litigants to select judges in certain cases based on where they file lawsuits, it has strengthened its…
CFPB notifies Texas federal court of intention to move to transfer case challenging final credit card late fee rule; plaintiffs seek expedited consideration of preliminary injunction motion before court decides venue issues
Yesterday, the CFPB filed a notice with the Texas federal district court stating that it intends to move to transfer the lawsuit challenging the CFPB’s final credit card late fee rule (Rule). The notice was filed pursuant to an order…
Texas federal judge hearing trade group lawsuit challenging CFPB final credit card late fee rule questions whether venue is proper and orders expedited briefing
The federal district court judge to whom the lawsuit challenging the CFPB’s final credit card late fee rule (Rule) was reassigned entered an order yesterday questioning whether the Fort Worth Division of the Northern District of Texas is the correct…