• 08.29.18

    CFPB Updates: MLA Controversy, GLBA Amendment, Settlement, CFPB Constitutionality

    In the latest Bureau of Consumer Financial Protection (CFPB or Bureau) news, the reported halt to Military Lending Act (MLA) examinations has created controversy, an amendment to the Gramm-Leach-Bliley Act (GLBA) annual privacy notice requirements was finalized, and a $14 million settlement was ...

  • 08.29.18

    State Regulators Busy With Fintech Sandbox, Investigation and Settlement

    In state-specific news, Arizona opened its sandbox for fintech play, Lending Club revealed that Massachusetts is following in the footsteps of the Federal Trade Commission (FTC) and the Georgia attorney general reached a $75,000 settlement with a financial institution over unauthorized fees.

  • 08.16.18

    CFPB News: A Settlement, a Loss and More Leadership Fights

    The Bureau of Consumer Financial Protection (CFPB or Bureau) settled with a Minnesota-based bank for $30 million over the marketing and sale of its overdraft practices, and lost its suit against a law firm accused of violating the Consumer Financial Protection Act (CFPA) and Fair Debt Collection ...

  • 08.02.18

    FTC Seeks Greater Data Security, Privacy Authority

    The Federal Trade Commission (FTC) is seeking more power to protect consumers and promote competition. In testimony before Congress, the FTC chair and the associate director for the Division of Privacy and Identity Protection discussed the agency’s enforcement efforts and assured lawmakers ...

  • 08.02.18

    CFPB News: New Innovations Office, ‘Gentler’ Consent Orders

    The kinder, gentler Bureau of Consumer Financial Protection (CFPB) has created a new office focused on emerging technology, announced a pair of consent orders that include minimal financial penalties, and continued to fend off constitutional challenges in federal court.

  • 07.13.18

    DOJ Fraud Task Force: What It Means for Financial Services

    With the July 11 announcement by Deputy Attorney General Rod Rosenstein of the new Department of Justice (DOJ) Task Force on Market Integrity and Consumer Fraud comes the obvious question: How will this task force affect the ongoing role of the Bureau of Consumer Financial Protection(CFPB); the ...

  • 07.05.18

    Might Courts Force Leadership Change at CFPB?

    The future of the Bureau of Consumer Financial Protection (CFPB) remains uncertain, as the nomination of a permanent director turned controversial, and a New York federal court ruled its structure unconstitutional.

  • 07.05.18

    CFPB News: More Reports, Settlements and Actions Dropped

    In another news-heavy cycle, the Bureau of Consumer Financial Protection (CFPB) released a report on year-end credit card borrowing, dropped a potentially major RESPA-based investigation on co-marketing practices, and reached two major settlements.

  • 06.21.18

    NY Federal Judge: CFPB Structure Unconstitutional

    Dismissing the CFPB from a suit it joined with the New York attorney general, a federal judge sitting in New York has ruled that the structure of the Bureau of Consumer Financial Protection (formerly known as the Consumer Financial Protection Bureau, or CFPB) is unconstitutional, requiring ...

  • 06.20.18

    Supremes: No More Class Action Stacking

    A putative class action plaintiff may not launch a new class action lawsuit after an earlier court denies class certification if the applicable statute of limitations has run, says the U.S. Supreme Court, in a unanimous ruling in China Agritech v. Resh.