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

True Accord

JANUARY 21, 2025

CFPB Looks at Medical Debt, Student Loans and So Much Data Medical debt wasnt the only focus for the Consumer Financial Protection Bureau in Q4. CFPB Looks at Medical Debt, Student Loans and So Much Data Medical debt wasnt the only focus for the Consumer Financial Protection Bureau in Q4.

Student Loans 104

Student Loans Student loans Credit Card Debt Financial Institution 104

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

Financial services Student Loans Student loans Credit Unions 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

Collection Industry News

OCTOBER 17, 2023

There are some exceptions: The Military Lending Act caps interest for active duty servicemembers and dependents at 36% for consumer credit. Federally chartered credit unions have an 18% limit. The financial services industry remains largely opposed to imposing a ceiling. For example, Sen.

Credit Unions 40

Credit Unions Credit Unions Accrued Interest Credit Card Debt 40

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