Troutman Sanders

MARCH 13, 2024

The Dodd-Frank Wall Street Reform and Consumer Protection Act required the CFPB to establish a consumer complaint system and to publish an annual report to Congress summarizing complaints received during the previous year. of all complaints.

Collections 52

Collections 52

Troutman Sanders

SEPTEMBER 19, 2023

For qualified mortgages (QMs) under the General QM loan definition in §1026.43(e)(2),

Manufacturing 52

Manufacturing Loans Consumer Credit Banks 52

Troutman Sanders

JULY 5, 2023

The CFPB removed data collection and reporting requirements for transactions that are reportable under the Home Mortgage Disclosure Act of 1975 (HMDA) and insurance premium financing. The CFPB reduced the number of NAICS code digits that need to be collected from six to three. Did the Bureau add anything to the Final Rule?

Financial Institution 52

Financial Institution Credit Unions Credit Unions Lender 52

Troutman Sanders

OCTOBER 28, 2021

Two important updates impacting compliance with the Truth in Lending Act (TILA) and Reg Z have just been announced. The updates reflect changes to the definition of a General QM loan and the addition of a new category of QM, Seasoned QM loans. For QMs under the General QM loan definition in Section 1026.43(e)(2),

Loans 52

Loans Credit Unions Credit Unions Consumer Credit 52

Collection Industry News

JUNE 13, 2022

Not only does the rule appear to waive important industry protections prior to allowing an AG to bring a direct federal consumer claim, it also states that AGs may now take enforcement action against certain industry participants who were successful in obtaining specific exemptions from enforcement during the negotiations of the Dodd-Frank Act.

Retail 40

Retail Manufacturing Trade Financial services 40

Collection Industry News

NOVEMBER 2, 2020

22, seeking comment on 46 questions in nine categories surrounding consumer access to financial information under section 1033 of the 2010 Dodd-Frank Act (15 U.S.C. The categories underscore the broad scope of section 1033 and the impact any rules could have on the consumer financial services industry.

Financial services 40

Financial services Credit Unions Credit Unions Lender 40

Troutman Sanders

APRIL 5, 2023

3) Assignees of consumer credit contracts are only liable under the Truth in Lending Act for violations that are apparent on the face of the TILA disclosure statement and other assigned documents, whereas alleged hidden finance charges, by definition, cannot meet this test.

Trade 52

Trade Consumer Credit Financial services Government 52