Consumer Credit and Privacy Compliance

Spotlight on "Abusive" Practices—The CFPB's Policy Statement and What It Means for Your Business

By K. Dailey Wilson and Gabriela I. Chambi

On April 3, 2023, the Consumer Financial Protection Bureau issued a policy statement on "abusive" practices. While this is the second time the CFPB has issued a policy statement on abusiveness, the significance of this policy statement cannot be understated. article continued

CFPB Fines National Bank $9 Million for Improper Handling of Credit Card Billing Error Notices and Claims of Unauthorized Use

By Michael A. Goodman and Erik Kosa

The CFPB settled a lawsuit originally filed in January 2020 against a large national bank, claiming it violated the Truth in Lending Act and its implementing Regulation Z, as well as the Consumer Financial Protection Act, by allegedly failing to investigate and resolve billing error notices and claims of unauthorized use while servicing credit card accounts. article continued

CFPB Bites of the Month - May 2023 - May I Have Another, CFPB

By Eric L. Johnson, Justin B. Hosie and Laura J. Bacon

In this month's article, we share some of our top "bites" for the prior month covered during the May 2023 webinar.

Bite 10: Director Chopra Released Statement on Restoration of Oversight Council's Authority article continued

Much Ado About Colorado

By Catherine M. Brennan

One of the beauties of the national banking system is that it allows state-chartered banks to offer uniform credit products across the 50 states without having to worry about state interest rate caps. This concept - rate exportation - is the basis of all bank lending in the United States. And it works well, most of the time except when, of course, it doesn't. article continued