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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

Baltimore drops lawsuit over CFPB’s move to return funds
Credit Union Growth Stalls—Expert Urges A Return To Core Values To Reignite Momentum
Duncan v. PNC Bank: Court Upholds $1.4M FCRA Award Against Experian
Wells Fargo moves closer to lifting asset cap after US regulator closes consent order
NCUA Chairman Kyle S. Hauptman’s Prepared Remarks for the May 2025 Open Meeting of the Financial Literacy and Education Commission
Should You Even Bother Making a Complaint to the CFPB?
Blankingship & Christiano, P.C. Warn That Millions May Have Unknowingly Waived Their 7th Amendment Rights by Accessing Free Credit Report
Letter Urging the OCC Not to Rescind National Bank Preemption Regulations
Rules in Motion, May 2025 – Another Update on the CFPB
Why Does the CFPB Disguise Important Mortgage Data?
FDIC-Insured Institutions Reported Return on Assets of 1.16 Percent and Net Income of $70.6 Billion in the First Quarter
Fintech groups oppose state BNPL rules
State Attorneys General Step Up Consumer Financial Services Enforcement
Suluki v. Credit One Bank – Court Rules Credit One Not Liable in FCRA Identity Theft Dispute
CFPB Energy Loan Rule An ‘Unlawful Power Grab,’ Suit Says
FICO Scores Come Under Scrutiny and Lenders Reassess Risk
Redlining Enforcement
Credit card cap amendment stokes opposition
U.S. homeowners and buyers are very uncertain about the market
Supreme Court Temporarily Allows Independent Labor Board Firings; Impact on FTC, NCUA Ousters is Unclear
CFPB Publishes Additional Proposals to Rescind “Unnecessary” Rules and Regulations
FHFA head targets FICO, teases changes to credit report policies
CFPB drops in-house suit against motor vehicle company financial arm
CFPB to yank ‘unlawful’ open banking rule
DOJ, CFPB seek to end Trustmark redlining consent order early
PenFed Credit Union highlights continued success and incredible value provided to members during 2025 annual meeting
Credit Unions Cheer Omission From GOP Tax Megabill, Eye Senate
Timeline: Administration Efforts to Dismantle the CFPB
Supreme Court temporarily allows independent labor board firings; impact on FTC, NCUA ousters is unclear
GAO report focuses on AI use in financial services
DOJ, CFPB seek to end Trustmark redlining consent order early
House Committee Bills Look to Reshape Banking Regulations
FHFA head targets FICO, teases changes to credit report policies
CFPB Drops Final Claims Against Lease-to-Own Company Snap
Trump’s Eventual CFPB Pick Will Work in White House’s Shadow
Tweaking 15-Year Mortgages to be ‘Half-Amortizing’ Would Help Banks and Home Buyers
2nd Circ. Backs Credit One Win In FCRA Investigation Suit
FDIC Quarterly Banking Profile
Defaults rise as ‘buy now, pay later’ users struggle to repay loans
CFPB Medical Debt Rule Could be Thrown Out Under its New Leadership
CFPB’s Move to Rescind Rule 1033 Creates Uncertainty in Open Banking
Supreme Court signals Trump can’t fire Fed’s Powell
BNPL Tracker: 41% of Users Late in Past Year
Best Credit Repair & Score Boost 2025: The Credit People
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

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