Newsletters

05.20.21

OCC Hits the Brakes on Crypto and Fintech: What Next?

When Michael Hsu became acting U.S. Comptroller of the Currency earlier this month, banking industry experts predicted a shift away from the aggressive innovation pushed by fintech-friendly Brian Brooks, who resigned as the Biden administration prepared to take the reins.


04.29.21

Consumer Mortgages: Why the CFPB’s QM Rule Compliance Delay Isn’t Quite What It Seems

As proposed back in March, the Consumer Financial Protection Bureau has now formally delayed the mandatory compliance date for the new general qualified mortgage (QM) rule to October 1, 2022, effective June 30.


04.26.21

Why the Supreme Court’s Unanimous FTC Decision Changes Everything

The Supreme Court has just made it significantly more difficult for the Federal Trade Commission (FTC) to obtain monetary relief in enforcement actions, terminating a practice the FTC has engaged in for decades to exact monetary recoveries.


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.


03.16.21

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.


01.21.21

CFPB Codifies Limited Role of Supervisory Guidance Into Final Rule: What Next?

In one of many last-minute actions likely to be challenged by Democrats, the Consumer Financial Protection Bureau issued a final rule “codifying” the September 2018 Interagency Statement.


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.