Auto finance companies and others in the auto space should take note of a recent joint letter issued by the Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) about the legal protections under the Servicemembers Civil Relief Act
On July 27, 2022, the Consumer Financial Protection Bureau (CFPB) and the United States Department of Justice (DOJ) filed a complaint in the United States District Court for the Eastern District of Pennsylvania against Trident Mortgage Company LP for alleged
The Eleventh Circuit’s recent 2-1 panel decision in Daniels v. Select Portfolio Servicing, Inc., provides a fresh example of the difficulty creditors face when navigating the requirements of the Fair Debt Collection Practices Act (FDCPA). In Daniels, the borrower alleged
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on June 29, 2022, clarifying its view as to the legality under the Fair Debt Collection Practices Act (FDCPA) of “convenience fees” for optional methods of expedited payment not prescribed
In 2018, California became the first state to pass a commercial finance disclosure law (CDL) requiring certain commercial finance companies to make consumer-style disclosures to financing recipients. The CDL was the catalyst for the passage of similar laws in Utah,
The heavily publicized announcement by New York federal prosecutors of the first-ever charges for insider trading in digital assets — non-fungible tokens, or “NFTs” in particular — is a significant but somewhat confusing development for the crypto community and beyond.
As we have repeatedly discussed this year in our Financial Services Perspectives blog, the current leadership of the CFPB has placed a significant emphasis upon fair lending. Seemingly once a month, or even more frequently at times, Director Rohit Chopra
On May 2, 2022, Georgia Gov. Brian Kemp signed SB 470, which amends provisions of Georgia’s banking laws relating to the denial or revocation of a mortgage license or registration due to certain felony convictions. SB 470 will reduce the
On May 5, 2022, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively the agencies) issued a joint notice of proposed rulemaking (the Proposed CRA
