Today, the Consumer Financial Protection Bureau (CFPB or Bureau) published in the Federal Register an interim final rule extending compliance dates for its 2023 small business lending rule under the Equal Credit Opportunity Act (Regulation B) (Final Rule) This extension
On June 12, the U.S. Court of Appeals for the Fifth Circuit issued a significant opinion in the case involving Guardian Flight, LLC and Med-Trans Corporation, two air ambulance providers, against the defendant insurance company. This case centered around the
In this episode of Payments Pros, Carlin McCrory is joined by Mary Zinsner, a partner in the Consumer Financial Services Practice Group, to explore the increasing litigation trends in the payments industry, with a focus on elder fraud and financial
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.
On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final Judgment and Order previously entered
On March 13, New York State introduced proposed legislation titled the Fostering Affordability and Integrity Through Reasonable Business Practices Act (FAIR Act). The proposed legislation seeks to broaden the scope of consumer protection from deceptive business practices currently
In response to the Federal Communications Commission’s (FCC) request for input on unnecessary compliance burdens, the debt collection industry, led by ACA International, is advocating for significant reforms to the Telephone Consumer Protection Act (TCPA). Their primary focus is on
In this special crossover episode between FCRA Focus and The Consumer Finance Podcast, Kim Phan, Dave Gettings, Chris Willis, and Cindy Hanson explore the recent withdrawal of Consumer Financial Protection Bureau (CFPB) guidance affecting the Fair Credit Reporting Act (FCRA).
On June 5, the U.S. Supreme Court dismissed a writ of certiorari as improvidently granted, leaving unresolved a significant question regarding class-action certification under Federal Rule of Civil Procedure 23. The question presented (and left unanswered by the majority) in
On Tuesday, June 10, the House Committees on Agriculture and Financial Services both favorably reported to the House H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act (as amended). Both committees gave overwhelmingly bipartisan support for the bill with