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CONSUMER LENDING, COMPLIANCE, AND
CREDIT RISK & REPORTING NEWS

2024 CFPB Complaints And FCRA Litigation Continue To Rise For 2nd Straight Quarter

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The Top Headlines This Week

Seventh Circuit rules Equifax is not liable for mortgage denial in FCRA lawsuit

CFPB Announces the Beta Platform for Small Business Lending Data Reporting

6th Circuit reverses decision on plaintiff’s FCRA claim

Navigating FCRA and Debt Collection With Special Guest Bridgeforce’s Michelle Macartney – The Consumer Finance Podcast

California Bill Requiring Landlords to Report On-Time Rent Payments to Credit Bureau Agencies Passes Legislature and Heads to Governor Gavin Newsom’s Desk

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Recent News

California Bill Requiring Landlords to Report On-Time Rent Payments to Credit Bureau Agencies Passes Legislature and Heads to Governor Gavin Newsom’s Desk
Navigating FCRA and Debt Collection With Special Guest Bridgeforce’s Michelle Macartney – The Consumer Finance Podcast
Top 3 trends highlighted in Experian’s annual Identity and Fraud Report
OCC’s Hsu: Agility and Teamwork Critical as Banks Confront New Risks
NCUA releases Ombudsman Annual Report
Bridgeforce and Provana Forge Strategic Alliance to Enhance Compliance and Operational Performance in Financial Services
CFPB slammed with EWA commentary
Introducing a Credit Bureau-Based Measure of U.S. Household Debt Service
6th Circuit reverses decision on plaintiff’s FCRA claim
ABA: CFPB proposal will discourage earned wage access products
Nutter Bank Report: August 2024
How AI Can Transform Fintech, Credit Scoring
Experian to Offer Debt Consolidation in Partnership with Paylink Solutions
What’s Next for the Regulatory Landscape Post-Chevron?
How Will New CFPB Rule Affect Short-Term Lenders?
The State AG Report – 8.29.2024
ABA, trade groups oppose CFPB’s attempts to dissolve preliminary injunction and dismiss or transfer late fees lawsuit
Acting Comptroller Discusses the Evolution of Bank Supervision
CFPB Issues Consent Order Related to Bank’s Duplicative Force-Placed Insurance Policies
CFPB Orders Mortgage Lender to Pay $2.25 Million for Allegedly Deceiving Servicemembers and Veterans
Amicus Brief Argues CFPB Overreached in Enforcement Action Against Auto Lender
CFPB Announces the Beta Platform for Small Business Lending Data Reporting
Seventh Circuit rules Equifax is not liable for mortgage denial in FCRA lawsuit
Aggregators hit back at JPMorgan credit card data theft lawsuit
CFPB Orders NewDay USA to Pay $2.25 Million for Illegally Luring Veterans and Military Families into Cash-Out Refinance Loans
Consumer Advisory: Video games are targeting your children to get into your wallet
Promoting competition in payments
Congress, CFPB Outline Views on AI in Financial Services
CFPB chides retailers on fees for cash back
Preserving free access to money in your account
CFPB Report Finds Large Retail Chains Charging Cash-back Fees to Customers Using Debit and Prepaid Cards
US lenders lose court battle over CFPB rule to collect small business data
Consumer groups show support of CFPB’s Auto Finance Data Pilot and urge the Bureau to expand its data collection
Center for Microeconomic Data: Household Debt and Credit Report
BREAKING NEWS: FTC’s Non-Compete Ban Struck Down For All Employers Nationwide
CFPB, Credit Repair Cloud Reach Deal Over Illegal Marketing Allegations
TransUnion Bid For CFPB Docs In Settlement Case Tossed
New Experian Report Reveals Generative AI, Deepfakes and Cybercrime Are the Top Fraud Concerns for Businesses
CFPB comments on Treasury RFI regarding artificial intelligence in finance
CFPB Takes Action Against Fay Servicing for Illegal Foreclosure Actions and Violating Law Enforcement Order
Latest credit union estimates show loans grew 0.5% in June  
US credit card debt continues to rise as housing and other costs remain high for the lowest earners
National Public Data breach update: Lawsuits pile up against Florida-based background check company after ‘security incident’
Navigating FCRA and Debt Collection With Special Guest Bridgeforce’s Michelle Macartney — FCRA Focus
Capital One, Citi plan to join FedNow in ‘near future’
Experian Can’t Shake Suit Claiming Inaccurate Credit Report
CFPB Grants Buy Now, Pay Later Lenders Compliance Grace Period
NCUA Board Approves Proposed Rule to Standardize Data Submitted to Federal Financial Regulatory Agencies
CFPB’s FCRA Proposals Will Harm Small Businesses, Lenders, Medical Providers, Patients and All Consumers
Overregulation of emerging tech can stifle innovation, says America’s Credit Unions
CFPB to monitor compliance at Credit Repair Cloud after alleged illegal fees
Credit Reporting Industry Slams CFPB Plan Targeting Medical Debt
June 2024 Consumer Litigation Filings: Down for Month, Up YTD
FACT SHEET: Biden-⁠Harris Administration Launches New Effort to Crack Down on Everyday Headaches and Hassles That Waste Americans’ Time and Money
CFPB to scour banks’ chatbot use in White House initiative
90% of Americans Worry About Rise in Fraud, 74% Think AI Will Increase Successful Fraud Attempts, Abrigo Survey Finds
CREDIT, DEBIT AND GIFT CARDS—N.D. TEX.: CHAMBER OF COMMERCE FILES OPPOSITION BRIEF IN CFPB CREDIT CARD LATE-FEE RULE CASE
Chime exec talks on CFPB’s new EWA stance
Senate Democrats open inquiry into duplicate student loan balances
Credit card delinquencies are higher than in 2019 because lenders took on more risk
Survey: Half of American cardholders now carry credit card debt, many with no plan to pay it off
Comments on NCUA’s Revised Succession Planning Rule Due Sept. 23
CFPB Bites of the Month – July 2024
Acting Comptroller Issues Statements on Bank Liquidity and Bank Resolvability
CFPB Wants Fort Worth Chamber Tossed From $8 Late Fee Challenge
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Proposed Rulemaking on Brokered Deposits
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the Final Rule on the Fair Hiring in Banking Act
FDIC Board Approves Proposed Rule to Revise Brokered Deposit Regulations
Career Step to Pay $43.5 Million in Cash and Debt Cancellation to Resolve Charges It Used Deceptive Advertising to Lure Servicemembers and Their Spouses
Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on a Proposed Rule to Strengthen Oversight of Large Asset Managers and Other Investors
CFPB to distribute over $8 million to consumers harmed by All American Check Cashing, Inc.
Credit counseling demand surges in 2024, with these states hardest-hit
NFCC Partners with AFC to Support Consumers, Provide Safe Pathways Out of Debt, and Increase Access to Responsible and Affordable Financial Services
Bankers want regulators, police to get serious about check fraud
Bank Associations Call for Industry-Wide Collaboration to Combat Scams
U.S. Banking Regulators Heighten Scrutiny of Bank-Fintech Relationships
Big Updates On Student Loan Forgiveness And Payment Pause As SAVE Plan Forbearance Proceeds
Space Coast Sells $669 Million in Auto Securities
FDIC Makes Public June Enforcement Actions
CFPB Tries to Stretch Section 1057 of the CFPA to Reach Nondisclosure Agreements
Summer Regulatory Round-Up | July 2024
Senators call on FTC to investigate automakers’ sale of driving data to brokers
CFPB Sues Rent-a-Center Affiliate Acima and Acima’s Founder Aaron Allred for Illegal Lending Practices
Third-Party Arrangements: Joint Statement on Banks’ Arrangements With Third Parties to Deliver Bank Deposit Products and Services
ADP settles lawsuit alleging background check incorrectly reported job seeker was a convicted murderer
Clair CEO backs CFPB rule proposal on EWA
CFPB Report Highlights Junk Fees Charged by School Lunch Payment Platforms
Federal Bank Regulatory Agencies Seek Comment on Interagency Effort to Reduce Regulatory Burden
CFPB Warns Against Intimidation of Whistleblowers
Joint Statement for the Record on “Instant Payments, Instant Losses: Zelle and the Big Banks Fail to Protect Consumers from Fraud”
Experian Issues an Opinion Editorial on the Three Myths Blocking the Way to Greater Financial Inclusion
2024 Mid-Year Review: State AGs Shaping Regulatory Landscapes
FTC Issues Orders to Eight Companies Seeking Information on Surveillance Pricing
FTC Issues Orders to Eight Companies Seeking Information on Surveillance Pricing
CFPB to distribute more than $53 million to consumers harmed by BrightSpeed Solutions
HUD Files Appraisal Discrimination Charge Against Rocket Mortgage
New credit-building products are gaming the system in a bad way, experts say
The Senate Permanent Subcommittee on Investigations Releases New Staff Report on Zelle, Bank Failures to Protect Consumers
4 key trends in tech-led consumer lending
ABA/Joint Trades’ Comment Letter to CFPB re: Consumer Complaint Survey

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