Our team published new content and podcasts to the Consumer Financial Services Law Monitor throughout the month of February, including our 2023 Consumer Financial Services Year in Review and A Look Ahead. To catch up on posts and podcasts you may have missed, click on the links below:

2023 Year in Review

Troutman Pepper Publishes 2023 Consumer Financial Services Year in Review and A Look Ahead


Consumer Financial Protection Bureau (CFPB)

Republican Representatives Urge CFPB to Revisit Proposed Payment App Rule

CFPB Issues First Report on Results of Its Updated Terms of Credit Card Plans Survey

A CFPB First: Bureau Publicly Asserts “Dormant” Supervisory Authority Over Company

CFPB Reports on Student Borrowers’ Experiences During Return to Loan Repayment

Comment Period on CFPB’s Auto Finance Data Project Closing Soon


Telephone Consumer Protection Act (TCPA)

Fourth Circuit Denies Class Certification Based on Lack of Ascertainability Due to Online Fax Services Being Outside TCPA’s Statutory Scope

FCC Rules AI-Generated Voices Fall Under TCPA Restrictions

Pennsylvania District Court Finds No Personal Liability Under the TCPA

New TCPA Rules: Revoking Consent to Robocalls and Robotexts


Debt Buyers + Collectors

Third Circuit Finds Pennsylvania’s Consumer Discount Company Act Does Not Apply to Debt Collectors

Bank and Loan Servicer Move to Dismiss Purported Class Action Asserting Violations of Georgia Usury Law and RICO


Fair Credit Reporting Act (FCRA)

Nevada Federal Court Declines to Decide at Summary Judgment Stage Whether Pre-Dispute Investigation Was Sufficient to Satisfy FCRA

Supreme Court Holds Government Agencies are Not Immune from FCRA Liability


Credit Reporting Agencies

Kentucky Introduces Legislation Requiring CRAs to Obtain Express Consumer Consent Prior to Furnishing a Consumer Report or Credit Score


Federal Trade Commission (FTC)

FTC Issues Supplemental Rulemaking to Combat Impersonation Fraud

FTC Says Unilateral Policy Changes for AI Product Development Could be Unfair or Deceptive


State Regulations

Arizona, Kentucky, and Hawaii Become Latest States to Introduce Legislation to Regulate Earned Wage Access Products

Illinois Introduces Third-Party Dental Financing Bill

Rhode Island and Minnesota Latest States with Bills Opting Out of Federal Banking Law Allowing Interest Rate Exportation

Virginia House Bill 418 Could Authorize Class Action Lawsuits in the Commonwealth


Regulatory Enforcement + Compliance

AAA Adopts New Mass Arbitration Rules

A Closer Look at NCUA’s Consumer Financial Protection and Compliance Expectations


Mortgage Lending

Idaho Bankruptcy Court Holds that Later-Recovered Assets Revert to Borrower Absent Plan Provision to the Contrary


Student Lending

Department of Education Cancels $5B More in Unpaid Student Loans


Podcasts

The Consumer Finance Podcast – Year in Review and a Look Ahead

The Consumer Finance Podcast – Year in Review and a Look Ahead: Fintech Developments

The Consumer Finance Podcast – Year in Review and a Look Ahead: Navigating the Debt Collection Landscape

The Consumer Finance Podcast – Year in Review and a Look Ahead: Unraveling the Threads of Class Action Litigation

The Consumer Finance Podcast – Year in Review and a Look Ahead: The Evolving Landscape of Background Screening and Credit Reporting

The Consumer Finance Podcast – Status of the DOJ’s Combatting Redlining Initiative

The Consumer Finance Podcast – Understanding the CFPB’s Proposed Digital Payments Larger Participants Rule and Its Implications for Digital Assets

The Consumer Finance Podcast – Avoiding Auto Finance Pitfalls Under the FTC’s New CARS Rule

Payments Pros Podcast – 2023 Payments Year in Review: Subscriptions, FedNow, and More!

Payments Pros Podcast – 2023 Payments Year in Review: CFPB and FTC Regulatory Trends

Payments Pros Podcast – Exploring the Potential of Georgia’s Merchant Acquirer Limited Purpose Bank Charter

The Crypto Exchange Podcast – Unraveling the Crypto Code: California’s New DFAL Explained

The Crypto Exchange Podcast – Understanding the CFPB’s Proposed Digital Payments Larger Participants Rule and Its Implications for Digital Assets


Weekly Newsletters

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of February 26, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of February 12, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of February 19, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of February 5, 2024