Troutman Sanders

SEPTEMBER 19, 2023

Specifically, the final rule provides for the following adjustments: For open-end consumer credit plans under TILA, the threshold that triggers requirements to disclose minimum interest charges will remain unchanged at $1.00 The rule takes effect on January 1, 2024.

Manufacturing 52

Manufacturing Loans Consumer Credit Banks 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 TILA Examination Procedures have been revised and updated to reflect four final rules that amend the qualified mortgage (QM) provisions of Regulation Z. For QMs under the General QM loan definition in Section 1026.43(e)(2),

Loans 52

Loans Credit Unions Credit Unions Consumer Credit 52

Troutman Sanders

JANUARY 23, 2024

The debt relief is broken down into the following categories: $1.7 Under the proposal, an institution subject to the rule would have to provide full TILA disclosures and comply with other substantive TILA requirements for overdraft fees if they exceed costs or a low CFPB safe harbor amount.

Financial services 52

Financial services Credit Unions Credit Unions Financial Institution 52

Troutman Sanders

NOVEMBER 7, 2022

The report highlighted multiple enforcement actions under each of four different FTC-identified dark pattern categories and concluded with the stern warning that “[f]irms that nonetheless employ dark patterns, take notice: where these practices violate the FTC Act, ROSCA, the TSR, TILA, CAN-SPAM, COPPA, ECOA, or other statutes and regulations enforced (..)

Trade 52

Trade 52

Troutman Sanders

JANUARY 23, 2023

Specifically, FinCEn is issuing a final rule, requiring certain entities to file with FinCEN reports that identify two categories of individuals: the beneficial owners of the entity and individuals who have filed an application with specified governmental authorities to create the entity or register it to do business.

Financial services 52

Financial services Financial Institution Government Banks 52

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