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


CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Texas Federal Court Enjoins CFPB’s Enforcement of its Section 1071 Rule Against Plaintiffs and Their Members Pending U.S. Supreme Court Decision in CFPB Funding Case

CFPB Releases Blog Post Favoring Use of Self-Reported Cash Flow Data in Credit Underwriting

CFPB’s Summer Edition of Supervisory Highlights Focuses on Auto Lending/Servicing and Debt Collection Practices

Section 1071 Final Rule: Anti-Discouragement Provisions

132 Members of Congress File Amici Brief Urging Supreme Court to Find CFPB Funding Structure Unconstitutional

CFPB’s 2022 Fair Lending Report Focuses on Bias in Mortgage Lending, Redlining, Home Appraisals, Small Business Lending, and Shows Continued Skepticism of AI

Section 1071 Final Rule: What Changed From the Proposed Rule


CREDIT REPORTING + DATA BROKERS

Amendment to California Employment Regulation May Impact Background Screeners

Seventh Circuit Finds Furnisher Not Liable Under FCRA Despite CRA’s Inaccurate Interpretation of Furnisher’s Reporting

Michigan House Bill Proposes Excluding Tenant Credit Scores from Rental Decisions

May Report Reveals a Big Monthly Jump in Consumer Litigation Filings

Consumer Litigation Filings Back Down in June


TCPA

First Post-Facebook Appeal Makes Its Way to Supreme Court

FCC Proposes New Rules for Revocation under the TCPA

Ohio Federal Court Finds Plaintiff Has Standing in TCPA Case Over Messages Left With Wrong Recipient

Ninth Circuit Holds Phone Owner Suffers Concrete Injury From Unsolicited Telemarketing Texts Even if Not “Actual User” of the Phone or “Actual Recipient” of the Texts


DEBT COLLECTION

Washington Becomes Latest State to Decide Bankruptcy Impact on Debt Collection Statute of Limitations

Nevada Significantly Amends Its Collection Agency Licensing Act


CRYPTO

Bipartisan Bill Would Require Federal Regulators to Create “Risk-Focused Examination and Review” Processes for Cryptocurrency Oversight

FTC Fines Bankrupt Crypto Services Provider Celsius $4.7B for Misrepresentations; Regulatory Agency Remains in Search for Civil Money Penalty Authority

U.S. Senators Reintroduce Comprehensive Legislation to Create First Ever Regulatory Framework for Crypto Assets


BANKING

FedNow Goes Live, Addressing Need for Speed in Banking

Connecticut Banking Statutes Amendments Take Effect October 1

Troutman Pepper Attorneys Update Fair Lending Handbook for the American Association of Bank Directors


REGULATORY ENFORCEMENT + COMPLIANCE

Nebraska Enacts Loan Licensure Requirement for Marketers, Servicers and Purchasers of Interests in Certain Bank Loans

Missouri Becomes Latest State to Establish Regulatory Framework for Earned Wage Access Products

Nevada Enacts Law Imposing Licensing Requirements and Regulations on Student Loan Servicers

Federal Agencies Launch Inquiry Into Medical Payment Products

Connecticut Becomes Latest State to Enact a Commercial Financing Disclosure and Registration Law

Seventh Circuit Affirms Dismissal, Finding Entity Entitled to Arm of the Tribe Sovereign Immunity & Adopting Breakthrough Factor Analysis


MORTGAGE LENDING

Michigan Supreme Court Refuses to Enforce Usury Savings Clause in a Commercial Mortgage

FFIEC Announces Availability of 2022 HMDA Data


PODCASTS

Payments and the Solar Industry

Recent Developments in California Privacy Laws

How Voice AI and Machine Learning Redefine Call Center Controls

Using Expert Witnesses in FCRA Cases

A Conversation With NAAG Executive Director Brian Kane

Troutman Pepper Attorneys Update Fair Lending Handbook for the American Association of Bank Directors

CFPB’s Larger Participant Rule for Consumer Payments