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11th Circuit Appeals Court Decision: FCRA Does Not Require Actual Damages Results In >$200 Million Potential Liability

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Top Headlines From This Week

CFPB Orders Bank of America to Pay $12 Million for Reporting False Mortgage Data

Rent-a-Center to pay more than $8 million to settle claims of abusive conduct toward poor consumers

Apple plans to end a credit card partnership with Goldman Sachs that it once touted as a blockbuster new business

CFPB issues Semi-Annual Report to Congress; CFPB Director Chopra to appear before House and Senate Committees this week

The 7 Most Notable FCRA Cases of 2023 So Far

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Recent News

Student Loan Fraudsters Permanently Banned from Debt Relief Industry and Required to Turn Over All Assets as Result of FTC Action
OCC Announces Enforcement Actions for May 2025
Michael Ritz v. Equifax Information Services LLC
From the Web: ‘Klarna Hiring Back Human Help After Going All-In on AI’
CFPB Seeks Comment on Proposals to Rescind Multiple Biden-Era Rules
CFPB Continues Efforts to Rescind Multiple Biden-Era Rules
Student Loan Fraudsters Permanently Banned From Debt Relief Industry And Required to Turn Over All Assets as Result of FTC Action
Consumer Loan Satisfaction Stagnant as Financial Health of Customers Declines, J.D. Power Finds
CFPB Plans to Kill Data Broker Limits, Big Tech Exam Changes
The Gig Is Up: Time for Lenders to Rethink Income Verifications
FTC Chairman Testifies Before House Appropriations Committee on Agency’s Budget
Digital Blind Spots Leave FinTechs Exposed as Litigation Explodes
Interest Rate Risk: Interest Rate Risk Statistics Report
Costco and Affirm partner to bring new, flexible payment option to Costco.com
Trump’s CFPB has dropped half of all pending litigation
As tax discussions reach critical point, don’t be hoodwinked by bankers
CFPB Plans to Kill Data Broker Limits, Big Tech Exam Changes
Report: Federal, state attempts to limit credit card interchange would harm consumers
Mortgage Lenders Turn to Tech and High Touch Amid Volatility
Statement for the Record before the House Financial Institutions Subcommittee on Bank Mergers and De Novo Formation
New York AG James sues Capital One after Trump’s CFPB drops claims
Fintechs that made profits from high interest rates now face key test
US consumer finance watchdog proposes scrapping bad actor registry
CFPB Withdraws Proposed FCRA Data Broker Rule
CFPB’s Withdrawal of Interpretive Guidance and Its Impact on the Rental Screening Industry
CFPB Open Banking Review Could Put Banks, FinTechs at Odds
US BNPL Transactions Hit $175 Billion Amid Shifting Demand
The April 2025 Senior Loan Officer Opinion Survey on Bank Lending Practices
Card Balances Decline in Q1, but 90-Day Delinquencies Surge
Fintech company Chime files for Nasdaq IPO
US consumer finance watchdog scraps Toyota settlement, Walmart lawsuit
Nutmeg State Financial Credit Union and CrossPoint Federal Credit Union announce plans to merge
CFPB Drops Lawsuit Against Walmart and FinTech Branch
2025 Risk Review – FDIC
US consumer finance watchdog scraps Toyota settlement, Walmart lawsuit
H1 2025 Update: State of Omnichannel Fraud
ABA announces support for several provisions in budget reconciliation tax package
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 12, 2025
Student loan delinquencies surge as credit reporting restarts
Trump to nominate CFPB nominee to Treasury Department position
OCC requests information on banks’ digitalization efforts
CFPB Eyes Reversal Of Biden-Era In-House Proceeding Rules
FTSE-100 group Experian kicks off hunt for next chairman
District court grants partial CFPB win in credit reporting case
Data Security Critical Regardless of Open Banking Rule’s Fate
American Fintech Council Comments On New York State Budget And BNPL Provision Including New Regulations
NY State Budget Provides New BNPL Oversight
Services and Activities Report 2024 – FDIC
Why student loan debt collections could be more painful than anticipated
Eleventh Circuit affirms lower court FCRA decision
CU Tax Fight: Credit Unions Dodge Tax Threat In House Reconciliation Bill
Bank and Credit Union Groups File Reply in Lawsuit Challenging Illinois Interchange Fee Prohibition Act
Federal Trade Commission’s crackdown on junk fees goes into effect this week, here’s how you can save money
Residual Joe Launches Legal Empowerment Platform After Reaching #1 in Amazon’s Consumer Law Category
How CBA Is Navigating Washington’s Shifting Political Landscape
Capital One asks judge to toss Trump de-banking lawsuit
Applauds CFPB Withdrawal of Regulatory Guidance
OCC Aims to Streamline Bank Merger Reviews
Trump Taps Former FDIC Director McKernan for Treasury Post
Trump to nominate CFBP pick Jonathan McKernan for Treasury post
Court Grants Consumer Groups Authority to Defend CFPB Rule to Remove Medical Debt from Credit Reports
Equifax Introduces myEquifax™ Mobile Application To Help Consumers Better Monitor Their Financial Health
IG Urges CFPB to Strengthen Controls on Sensitive Data
Citing CFPB cutbacks, Pennsylvania Governor is beefing up consumer protection efforts
Leading Fintech Achieve Taps FICO Score 10 T to Expand Consumer Access to Personal Loans
CFPB Reports on Consumer Complaint Trends
American Fintech Council Urges Senate to Pass Credit Access Bill to Expand Use of Alternative Data
Financial Regulators Face Deepest Personnel Cuts in Decades
Class Action Lawsuit Claims Experian Inaccurately Reported Pink Energy ‘Scam’ Loans on Consumer Credit Reports
Venkat Achanta On TransUnion’s Platform Transformation And AI Ambition
Consumers Took on More Debt in March, Reversing Paydowns
NCU-ISAO celebrates milestone of 250 member credit unions
Upstart and Fortress Investment Group Announce $1.2B Forward-Flow Agreement
AFC underlines its support for the Credit Access and Inclusion Act
Experian Must Face Biden-Era Suit Over Consumer Data Disputes
CFPB Announcement Regarding Enforcement Actions Related to Buy Now, Pay Later Loans
Trump administration to garnish wages of 5.3 million defaulted student loan borrowers this summer
Student loan collections resume as record number of borrowers fall behind on payments
California and Eleven States Call for Answers from the CFPB Over Restitution Delays
Letter of Support on Congressional Review Act Resolution of Disapproval of the OCC Merger Rule
Millions of student loan borrowers head to collections as delinquency rates soar over 20%
U.S. Department of Education Reminds Colleges and Universities of Their Obligations to Help Struggling Borrowers
Federal Register :: Proposed Agency Information Collection Activities; Comment Request
CFPB wins rare judgment over student loan debt relief firm
Collection for defaulted student loans resumes, impacting millions
CFPB agrees to dismiss appeal in UDAAP lawsuit
House Financial Services Committee finds savings by slashing CFPB budget
Comments on Changes to the Call Report Due June 23
OCC’s Hood emphasizes responsible AI use for financial inclusion
Delinquent student loans jump just as involuntary collections resume
FTC Rule on Unfair or Deceptive Fees to Take Effect on May 12, 2025
FTC and DOJ Issue Letter Seeking Identification of Anticompetitive Regulations Across the Federal Government
Student loan default has ‘dramatic and immediate’ credit score impact, expert says — with drop of up to 175 points
Fintech Share of Switchers and New Accounts Keeps Rising. How to Stop the Trend?
OCC Issues Request for Information on Community Bank Digitalization
FTC and DOJ Issue Letter Seeking Identification of Anticompetitive Regulations Across the Federal Government
Zelle service glitch tied to Fiserv resolved
First National Bank of Omaha to buy Kansas City bank
FTC Shuts Down Fraudsters Threatening Jail for Fake Debts!
CFPB Plans to Revisit Open Banking Rule Despite Staff Cuts

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