We have posted several new topics to the Consumer Financial Services Law Monitor blog throughout the month of December. To read further, click on the titles below:


Featured Posts/Client Alerts

December 5 – Troutman Pepper Weekly Consumer Financial Services Newsletter

December 12 – Troutman Pepper Weekly Consumer Financial Services Newsletter

December 20 – Troutman Pepper Weekly Consumer Financial Services Newsletter

December 27 – Troutman Pepper Weekly Consumer Financial Services Newsletter


Auto Finance

FDIC Pursuing Disparate Impact Theory Against Auto Lenders Already Rejected by Congress


Banking

Federal Court Holds That Bank’s Arbitration Clause Fails for Lack of Meaningful Opt-Out


CFPB

CFPB Launches Its First Civil Investigation of a Crypto Firm

CFPB Report Finds Only Small Fractions of Activated Guard and Reserve Servicemembers Receive SCRA Interest Rate Reductions

CFPB Intends to Clear Way for New State Laws Requiring Cost Disclosures in Commercial Transactions

2020 HMDA Final Rule Partially Vacated: Closed-End Loan Reporting Threshold Lowered

CFPB Publishes Notice of Proposed Rulemaking Signaling Intent to Create Registry of Repeat Offenders

State AGs With Opposing Objectives File Separate Amicus Briefs Urging Supreme Court to Grant Cert in CFPB Funding Appeal

Massachusetts AG Reaches $600K Settlement With Debt Settlement Payment Processor


Cryptocurrency

OFAC Settles With Kraken for $362,158: Maximum Penalty Avoided

Help Us Regulate Crypto: Concerned Senator Sherrod Brown asks Treasury Secretary for Help After FTX Collapse

Senators Introduce Bill to Extend Anti-Money Laundering Rules to Cryptocurrency


Debt Buyers + Collectors

Arizona State Court Issues Show Cause Order: Will Review Constitutionality of Arizona Protection from Predatory Debt Collection Act

Connecticut Department of Banking Fines Law Firm $100,000 for Collecting Without a License

Tenth Circuit Affirms Dismissal of FDCPA Mailer-Vendor Claims

Filing Motion to Dismiss in State Court Waived Right to Removal, Holds Fourth Circuit


Mortgage Lending

Supreme Court to Hear Arguments on Biden’s Student Loan Forgiveness Plan


Regulatory Enforcement + Compliance

FCC Opens Call Spoofing Complaint Portal to Private Entities

California DFPI Announces Modifications to Proposed Rules Relating to Companies’ Responses to Consumer Complaints


TCPA

Finally, The Ninth Circuit Endorses Narrower Definition of Automatic Telephone Dialing System Under the TCPA

Ninth Circuit Reaffirms Borden Interpretation of ATDS


Podcasts

Bankruptcy Filings Among Crypto Exchanges: Is This a Sign of the Future?

What Is Mass Arbitration and How Should Companies Protect Themselves?

What to Do When a Phishing Attack Happens to You

New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook