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


Consumer Financial Protection Bureau (CFPB)

CFPB Opines That Companies Using Automated Worker Surveillance Tools Must Comply with FCRA

CFPB Signals Intent to “Streamline” Mortgage Servicing Rules

CFPB’s Office of Servicemember Affairs Issues Annual Report Highlighting Complaints Related to Payment App Fraud

CFPB Moves to Widen Supervisory Scope in Consumer Payments Market

Section 1071 Final Rule: Data Collection and Reporting

CFPB Enters Consent Order Against Medical Debt Collector for Alleged FCRA and FDCPA Violations

CFPB Warns About Risks of Chatbot Use in Consumer Finance


Credit Reporting + Data Brokers

Ninth Circuit Rejects Constitutional Challenge to Nevada Medical Debt Legislation; Also Finds Legislation Not Preempted by FDCPA or FCRA

Virginia Federal Court Applies Broad Reading of Military Lending Act’s Statute of Limitation in Dismissal of Borrower Class Action

April Report Reveals Substantial Decrease in Consumer Litigation Filings


Payment Processing + Cards

New York Law Requiring Grace Period for Use of Credit Card Rewards Points Goes Into Effect End of this Year


Crypto

New York’s Attorney General Proposes New Crypto Legislation in Crackdown on Industry


Debt Buyers + Collectors

Indiana Appellate Court Reverses Summary Judgment in FDCPA Case Involving Bona Fide Error Defense


Federal Trade Commission (FTC)

FTC Seeks Public Input on Joint Consumer Protection Efforts with State Attorneys General

FTC Comment Request Signals Joint Enforcement With State AGs Will Continue Increasing


TCPA

Sixth Circuit Holds Receipt of One Ringless Voicemail Causes Article III Harm Under the TCPA


Mortgage Lending

Supreme Court Holds Bankruptcy Code Abrogates Tribal Immunity

Federal Agencies Release Proposed Automated Valuation Model Rule


Regulatory Enforcement + Compliance

Florida Enacts Commercial Financing Disclosure Law

Nevada Passes Law Creating Licensing Requirements for Earned Wage Access Providers

Supreme Court Holds That Litigation is Automatically Stayed Pending Appeal of Order Denying Motion to Compel Arbitration

Securities Industry Arbitrations and Litigation Update: FINRA Reaffirms Its Commitment to Enforcement Actions In Connection with the Protection Of Elderly Investor Customers

Federal Agencies Issue Joint Request for Comment on ROV Guidance

Colorado Passes Legislation Seeking to Stop State-Chartered Banks from Preempting Colorado’s Usury Limit

Securities Industry Arbitrations and Litigation Update: FINRA Member Firms Don’t Forget to “Dot Your I’s and Cross Your T’s” in Seeking to Confirm Promissory Note Arbitration Award

Minnesota Enacts Bill Capping All-In APR and Codifying Predominant Economic Interest Test for Short-Term and Small Consumer Loans


Podcasts

The Future of Chevron Deference

Convenience Fees: Why You Need to Pay Attention?

The Latest on HUD’s Disparate Impact Rule

Announcing Troutman Pepper’s New Financial Services Blog and Financial Services App!

CFPB’s War on Junk Fees

AI: Impact and Use in Background Screening – Crossover Episode With the Regulatory Oversight Podcast

A Discussion with Nacha on Proposed Rulemaking Regarding Fraud