Newsletters

04.02.21

CFPB Rescinds Policy Statements That Provided Flexibility During the COVID-19 Crisis

Another day, another major pronouncement from the Consumer Financial Protection Bureau, which just took two important actions.


04.01.21

Regulation by Blog or Press Release?

In two recent communications, the Consumer Financial Protection Bureau acting director is signaling that the Bureau will vigorously enforce against consumers harmed by short-term lenders that fail to underwrite loans based on the borrowers’ ability to repay them.


03.31.21

Sixth Circuit Holds CDC’s Eviction Moratorium Likely Ultra Vires and Unenforceable

The Sixth Circuit Court of Appeals held earlier this week that the CDC is unlikely to prevail on the merits and therefore a ruling from the Western District of Tennessee holding that the federal eviction moratorium “is ultravires; and is unenforceable in the Western District of ...


03.16.21

Is the CFPB’s Rescission of ‘Abusiveness’ Policy Statement Bad for Both Industry and Consumers?

Last week, the Consumer Financial Protection Bureau just reversed course on the standard for abusive practices established under prior CFPB leadership.


03.10.21

CFPB Expands ECOA Prohibited Bases to Include Sexual Orientation and Gender Identity

On March 9, 2021, the Consumer Financial Protection Bureau issued an Interpretive Rule that the prohibitions against sex discrimination in the Equal Credit Opportunity Act and Regulation B encompass sexual orientation discrimination and gender identity discrimination.


01.20.21

CFPB News: How Warren Protégé Chopra Will Impact Consumer Financial Protection

Rohit Chopra will be nominated as the next Director of the Consumer Financial Protection Bureau.


01.20.21

California Financial News: Enhanced DFPI Prepares to Flex Its Muscles

As we previously reported, the newly established California Department of Financial Protection and Innovation (DFPI) starts the new year with greatly enhanced powers, and it is making sure consumers, industry and the general public are on sufficient notice.


01.11.21

CFPB Taskforce Issues Report Setting High-Level Agenda and Priorities

The Consumer Financial Protection Bureau released its long-awaited two-volume Taskforce Report on Consumer Financial Law as expected last week, following a yearlong effort.


01.05.21

Fintech Year in Review—2020

As we prepare to put 2020 in the rearview mirror, many of us will not have fond memories of the year.


12.23.20

CARES Act Litigation: Stimulus Bill Decimates Agent Fee Class Action Lawsuits

In its recent passage of the 2021 stimulus bill, Congress may have vanquished the last hopes of the plaintiffs’ bar seeking to require Paycheck Protection Program (PPP) lenders to pay agent fees for accountants in a wave of putative class action lawsuits.