Consumer Financial Services Law

JANUARY 14, 2017

Instead, the orders are focused on the CRAs’ marketing of credit related reporting services. According to the Consent Orders, the CRAs marketed and sold consumers credit scores and credit related products. Equifax Order, ¶ 23; see also TransUnion Order, ¶ 29.

Lender 40

Lender Creditworthiness Financial Institution Education 40

Troutman Sanders

MAY 9, 2023

The proposed rule would require lenders to assess a borrower’s ability to repay a PACE loan and would provide a framework for how these loans will be treated under the Truth in Lending Act. PACE loans, secured by a property tax lien on the borrower’s home, are often promoted as a way to finance clean energy improvements, such as solar panels.

Financial services 52

Financial services Student loans Student Loans Loans 52

Troutman Sanders

OCTOBER 24, 2023

The proposed Personal Financial Data Rights rule activates a dormant provision of law enacted by Congress more than a decade ago. It would jumpstart competition by forbidding financial institutions from hoarding a person’s data and by requiring companies to share data at the person’s direction with other companies offering better products.

Financial services 52

Financial services Creditworthiness Banks Government 52