Troutman Sanders

OCTOBER 16, 2023

On October 11, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion concerning consumers’ requests for information regarding their accounts with large banks and credit unions. For more information, click here. For more information, click here. For more information, click here.

Financial services 52

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Troutman Sanders

DECEMBER 21, 2021

Federal Activities: On December 16, the Consumer Financial Protection Bureau (CFPB) issued a series of orders to five companies offering “buy now, pay later” (BNPL) credit. Ron Wyden asked the CFPB to prevent credit agencies from selling Americans’ private, personal data unrelated to their credit or finances via data brokers.

Financial services 52

Financial services Credit Unions Credit Unions Third-party Debt Collectors 52

Troutman Sanders

NOVEMBER 2, 2020

The legislation would benefit banks and credit unions with assets under $15 billion. It requires federal regulators to exclude PPP loans from asset-size calculations for the purpose of determining capital ratios, deposit insurance premiums, and other asset thresholds at those financial institutions.

Financial services 52

Financial services Financial Institution Loans Credit Unions 52

Troutman Sanders

APRIL 6, 2021

Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. whether any clarifications from the agencies would be helpful for financial institutions’ use of AI in a safe and sound manner and in compliance with applicable laws.

Financial Institution 52

Financial Institution Banks Credit Unions Credit Unions 52

Consumer Finance

AUGUST 24, 2020

The Consumer Financial Protection Bureau issued a request for information to examine the impact of the rules that implement the Credit Card Accountability Responsibility and Disclosure Act of 2009.

Consumer Credit 40

Consumer Credit Credit Unions Credit Unions Financial services 40

Collection Industry News

MAY 18, 2021

2547 was sponsored by House Financial Services Committee Chairwoman Rep. While consumer groups praised the bill for its recourse for consumers harassed by debt collectors, CUNA and NAFCU saw the bill as complicating the legal relationship between consumers, members and lenders. The bill, H.R.

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Collection Industry News

MARCH 15, 2021

SACRAMENTO – More than a year into the COVID-19 pandemic, the California Department of Financial Protection and Innovation (DFPI) continues to expand efforts to protect consumers from financial impacts of the lethal virus that has ravaged the state’s economy and killed more than 53,000 Californians.

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Foreclosure Student loans Student Loans Debt collector 40