In a recent speech at the Financial Data Exchange Global Summit, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), discussed the current state of open banking in the United States and emphasized the importance of standard-setting organizations in
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Wisconsin Legislature Passes Earned Wage Access Bill
On February 20, the Wisconsin Senate passed House Bill (HB) 574 to regulate earned wage access (EWA) products and services. HB 574 creates a new chapter to the Wisconsin Statutes that requires EWA providers to be licensed by the Division…
FTC Announces Amendments to Telemarketing Sales Rule
On March 7, the Federal Trade Commission (FTC) announced a final rule updating recordkeeping requirements and extending the protections against misrepresentations of the Telemarketing Sales Rule (TSR) to businesses (Final Rule). It also announced a notice of proposed rulemaking to…
Virginia Governor Vetoes Bill that Would Have Expanded Class Actions
On March 14, Virginia Governor Glenn Youngkin vetoed House Bill (HB) 418 that would have created a vehicle for class actions in Virginia state courts and would have broadened statutory damages under the Virginia Consumer Protection Act (VCPA).…
Understanding the CFPB’s Proposed Digital Payments Larger Participants Rule and Its Implications for Digital Assets
In this special crossover episode with Payments Pros and The Crypto Exchange, Ethan Ostroff, James Kim, and Carlin McCrory discuss the Consumer Financial Protection Bureau’s (CFPB) proposed rule to supervise large tech companies and other providers of digital wallets and…
Report Shows Credit Reporting Issues Dominate CFPB Consumer Complaints
Consumer reporting dominates complaints to the Consumer Financial Protection Bureau (CFPB), according to a new report.…
New York Federal District Court Holds the Reasonableness of Investigation Into Alleged Identity Theft is a Factual Question under the FCRA
A U.S. district court in the Eastern District of New York recently denied a motion for summary judgment filed by a credit card issuer because the plaintiff alleged identity theft and a reasonable factfinder could determine the issuer’s investigation was…
Innovative Jury Strategies and the Power of Preparation
In this episode of FCRA Focus, join host Dave Gettings and fellow partner, Jason Manning, as they delve into Jason’s recent experiences trying a consumer case in front of a jury. Jason and Dave discuss the impact of integrating technology…
Troutman Pepper Weekly Consumer Financial Services Newsletter
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week: