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Top 5 Stories This Week - JUNE 8, 2026

Metro 2® Data Standard Now Includes Specific Guidance for BNPL Loans

Court Rules FCRA Documentation Gaps Do Not Shield Furnishers

Credit Union Membership Rules Face New Flexibility and New Scrutiny

Nine Regulators Align on Financial Data Standards

California Expands Exposure for FCRA Class Actions

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Recent INDUSTRY News

Papoyan v. JPMorgan Chase: Court Remands Small Claims FCRA Case to State Court
Nine Regulators Align on Financial Data Standards
Metro 2® Data Standard Now Includes Specific Guidance for BNPL Loans
A Clearer Path for Reporting Buy Now, Pay Later Loans
5 Bank Failure-Related Changes the FDIC is Considering
The Other Side Of The Deal: NCUA Proposal Could Revive Little-Known Path For Banks To Acquire Credit Unions
America’s Credit Unions Backs Trio Of AML Proposals, Urges Key Changes
ABA Backs Proposed Overhaul of BSA Program Rule
Trump Nominates CFPB’s Former No. 2 as Director
Joint Rule Establishing Data Standards under the Financial Data Transparency Act of 2022
TransUnion: Tappable Equity Continues to Grow
NCUA Releases Q1 2026 System Report
California Panel Splits with Peers on Concrete Injury for FCRA Standing
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter
2026 CRRG® Updates: What Credit Reporting Leaders Must Do Now
Third Circuit Rules ‘in Collections’ Designation Not an ‘Actionable Inaccuracy’ Under FCRA
Rethinking Resolution Readiness: Learning from Experience and Sharpening Focus
FTC Returns Nearly $3 Million to Consumers Deceived by Mortgage Relief Scheme
Nearly Half Of Mortgage Borrowers Never Negotiate Their Loan
America’s Credit Unions Supports Crews’ Nomination To NCUA Board
FOM Reforms Would Expand Consumer Access
Letter to FinCEN, OCC and FDIC on the Program Rule NPRMs
FTC Returns Nearly $3 Million to Consumers Deceived by Mortgage Relief Scheme
NCUA Releases First Quarter 2026 Credit Union System Performance Data
NCUA Interim Final Rule Confirms Preemption of IFPA
Credit Union Membership Rules Face New Flexibility and New Scrutiny
Reset Raises $6 Million Seed Round Anchored by Credit Union Customers to Expand Embedded Earned Wage Access Platform
Main Street Ledger: The Affordability Story Behind Credit Card Balances
Federal Court Expands Injunction Against Illinois Interchange Fee Law Following OCC Action
Household Financial Outlook Deteriorates; Short-Term Inflation Expectations Decline
New Consumer Protection Law in Oregon
Credit Outlook Improves, But Consumer Lending Concerns Persist, ABA Reports
CFPB: Creditors May be Required to Check Immigration Status
ABA: Proposed Rule Would Further Erode Legal Restrictions on Credit Union Membership
Letter to the NCUA on Chartering and Field of Membership
NCUA Board Approves Final Rule on Dependent Care and Board Member Reimbursement
NCUA Clarifies Federal Credit Unions’ Power
Trump Strips Consumer Watchdog’s Teeth, but Agency’s Data Lifeline Remains
Statement on Ability to Repay and Immigration Status
Federal Prudential Regulators Ask Financial Institutions to Detect and Report Illicit Activity Related to Illegal Aliens
Revolving Credit’s 10.4% Growth and Consumer Resilience
Q2 Rolls Out AI Assistant To Help Credit Union Staff Resolve Member Issues Faster
ABA Reminds CFPB of Key Recommendations on Mortgage Servicing Reform
Student-Loan Transfer to Treasury May Bring Back Aggressive Collectors
Hammond v. Bank of America: FCRA Claims Survive Summary Judgment Over Missing Application
Chase Lets Cardholders Pay With Points on New Platform
These 97 Car Dealers Were Warned About ‘Deceptive’ Pricing by the FTC
“Buy Now, Pay Later” Beyond “Pay in 4”, A Comprehensive Product Overview
Federal Prudential Regulators Ask Financial Institutions to Detect and Report Illicit Activity Related to Illegal Aliens
Examining the Nationwide Interchange Landscape for Credit Unions
Hauptman to Congress: Credit Unions Balancing Innovation, Access, Safety
Letter to the CFPB re: Reg X Final Rule
US Court Blocks CFPB Move to Scrap Racial Discrimination Settlement
Trump CFPB Cuts Reviewed by Fed Inspector General
California Expands Exposure for FCRA Class Actions
AI in Collections is Driving Complaints. Here’s How Teams Can Ensure Compliance
CreditWeek: How Could Challenging Credit Conditio
Comptroller Gould Testifies on Agency Activities
BREAKING: Justices Back FCC’s Power to Impose Fines
Ongoing Support for Credit Union Priorities in Treasury Budget
FCRA Litigation Record Pace Holds as April Filings Stay Elevated
Wiley Consumer Protection Download
Paoletta to replace Vought as CFPB Acting Director
Fintech Revenues Hit Record $504B in 2025: Study
FTC Sues to Stop Deceptive Mortgage Assistance Relief Operation that Targets Homeowners
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2026
The CFPB Works To Ensure Bilt Consumers Are Made Whole
CFPB to End Employee Telework
ABA Files Amicus Brief Urging Third Circuit to Review TransUnion Class Certification Ruling
April 2026 Consumer Litigation Filings: All Major Statutes Up for the First Time in Over a Year
AMERICA’S CREDIT UNIONS RELEASES DATA PRIVACY WHITE PAPER
New Court Decision Issued in Illinois IFPA Case
Credit Card Delinquencies Improve Across All Stages
Agencies Remove Additional References to Reputation Risk
Agencies Remove References to Reputation Risk in Interagency Documents
FDIC’s Office of Ombudsman Publishes 2025 Annual Report
Recommendations to Improve Existing NCUA Regulations
Ervan v. Upgrade, Inc.: Failure to Provide 1099-C Does Not Violate the FDCPA or the FCRA
Court Rules FCRA Documentation Gaps Do Not Shield Furnishers
TransUnion FCRA ID Theft Case Class Certification Ruling Challenged
CFPB Applies Its New Enforcement Playbook to the Bilt Transition
Illinois General Assembly Vote to Delay IFPA
Judge Blocks IFPA For Banks, Networks – But Credit Unions Left Exposed
What’s Next in State Enforcement for Fintechs: Trends and Strategies
Joint Statement from Co-Plaintiffs on U.S. District Court IFPA Ruling
Vermont Shields Vulnerable from Coerced Debt as Nine States Now Have Protections in Place
Non-Bank Lenders Gain Ground as Borrowers Seek Relief from Rising Costs
Executive Order Signals Major Shift in Federal Expectations for AML, Customer Identification, and Credit Underwriting
Questions Emerge over Vought’s Authority as CFPB Acting Director
CFPB Reshuffles Senior Officials in Prelude to Vought’s Exit
5 Takeaways from Jerome Powell’s Award Speech
OCC Announces Senior Deputy Comptroller for Regional and Midsize Financial Institutions
Judge Clears Settlement In Equifax Reporting Suit
OCC Releases CRA Performance Evaluations for 18 National Banks and Federal Savings Associations
Why Consumer Lending’s Next Crisis Could Start With AI-Created Borrowers
AI-Created Borrowers Are Reaching Credit Unions
Williams v. Transworld Systems Inc., et al.: Direct Dispute Fails to Trigger FCRA Duties
Hedging, Non-QM, FCRA Credit Reports, PreQual, Non-Agency Product News; Capital Markets
FinTech Lenders Chase the One Thing Banks Already Have
The ‘New CFPB’ Era: Back to Basics Without Backsliding on Compliance