rules-policy small-business-lending 
Troutman Sanders
MARCH 30, 2023
As promised (and discussed here ), the Consumer Financial Protection Bureau (CFPB) issued its final rule under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Final Rule). The Final Rule requires lenders that originate at least 2,500 small business loans annually to collect data starting October 1, 2024.
Troutman Sanders
MAY 4, 2023
Please join Troutman Pepper Partner Chris Willis and his colleagues Alan Wingfield, James Kim, and Taylor Gess for the first installment of a special two-part series about the Consumer Financial Protection Bureau’s (CFPB) recent policy statement on abusiveness.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Collection Industry News
SEPTEMBER 7, 2021
As we have discussed in this space , Section 1071 amends the Equal Credit Opportunity Act to mandate certain reporting requirements for financial services companies making business loans. There is a 90-day period in which stakeholders can submit comments to the CFPB regarding the proposed rule.
Troutman Sanders
JULY 25, 2023
The Consumer Financial Protection Bureau (CFPB or Bureau) issued its proposed rule in 2021, and after considering the over 2,500 comments it received, on March 30, 2023, the CFPB issued the massive, highly technical, and complicated Final Rule. There was no comparable provision in the proposed rule.
Troutman Sanders
FEBRUARY 28, 2022
Despite the lack of imminency on a final rule, the Outline serves as further proof that fair lending and its application to algorithmic systems is a top priority for the CFPB, as well as other regulators at both the federal and state levels. Among other things, the Outline covers the scope of potential eventual rule requirements.
Collection Industry News
JULY 27, 2023
“Imposing a punitive capital charge on businesses that provide steady fee income is misguided.” ” BANK OF AMERICA CEO BRIAN MOYNIHAN, ON FOX BUSINESS The process needs to assure “the playing field is level,” and rules should be implemented carefully so they do not “make the U.S.
CSA
DECEMBER 7, 2022
FCA launches annual fees policy consultation. The FCA has published its annual consultation on fees and levies policy, in which it sets out any proposed changes to policy. The FCA’s fee and levy policy consultation is available here and closes for responses on 16 January 2023. FCA shares update on debt packager proposals.
Expert insights. Personalized for you.
52 
Let's personalize your content