Our team published new content and podcasts to the Consumer Financial Services Law Monitor throughout the month of June. To catch up on posts and podcasts you may have missed, click on the links below:

Consumer Financial Protection Bureau

CFPB Issues Interim Final Rule Memorializing Updated Compliance Dates for Section 1071 Final Rule

The CFPB’s Increased Focus on Medical Financing Products

CFPB Report Foreshadows Increased Scrutiny of Negative Equity in Auto Lending

CFPB Announces “Payday Loan” Rule to Take Effect Next Year

CFPB Issues Final Rule under Section 1033 Establishing Qualifications for Recognition of Industry Standard Setter Bodies

Contract Terms and Conditions Come Under CFPB Scrutiny

CFPB Issues Final Rule on Nonbank Registration of Enforcement Orders


Mortgage Lending + Servicing

National Bank Preemption of State Law Following Cantero

CFPB Probing Alleged “Junk Fees” in Mortgage Closing Costs

VA Announces “Targeted Foreclosure Moratorium” on VA Loans Through December 31, 2024


Regulatory Enforcement + Compliance

Federal Agencies Finalize Automated Valuation Model Rule

FTC Issues 2023 Staff Report on Actions Related to Credit, Leases, and Electronic Fund Transfers

Treasury Department Issues Request for Information on the Use of AI in Financial Services

Ninth Circuit Court of Appeals Restricts Out-of-Network Providers’ Ability to Avoid ERISA Preemption of State Law Claims


Payment Processing + Cards

Fifth Circuit Rules CFPB Credit Card Late Fee Rule Case Stays in Texas

Virginia Takes Step Towards Prohibiting Creditors from Charging Electronic Payment Surcharges on Credit Transactions


Debt Buyers + Collectors

Alabama Federal Court Allows FDCPA Case Involving Ambiguous Dispute Letters to Proceed to Trial

CFPB Proposed Rule Banning Reporting of Medical Debt


Telephone Consumer Protection Act (TCPA)

Maryland Federal Court Denies Summary Judgment on TCPA Claim, Finding No Prior Express Written Consent Because E-SIGN Disclosures Were Not in Writing


Debit + Prepaid Cards

DOL Issues New Guidance on Prepaid Unemployment Benefits Cards


Data Security + Privacy

How to Respond When Your Service Provider Suffers a Cyberattack

Understanding Regulatory Response Times Following a Cybersecurity Incident

Does Every Incident Require a Forensic Report?

Should Companies Conduct Their Own Forensic Investigations?

Troutman Pepper Launches ‘Dear Mary’ Advice Column


Banking

Colorado Federal Court Enjoins State Enforcement of DIDMCA Opt-Out Legislation Against Out-Of-State Lenders


Podcasts

Payments Pros Podcast – Regulation Through Enforcement: Insights From the BlueSnap Lawsuit

Payments Pros Podcast – Third-Party Risk Management in Bank-Fintech Partnerships: Strategies and Insights

The Consumer Finance Podcast – Navigating Bank-Fintech Partnerships: Avoiding Common Pitfalls

The Consumer Finance Podcast – Revisiting Financial Institution Incentive Compensation Rules Under Dodd-Frank

The Consumer Finance Podcast – Auto Finance – CFPB Circular Release

The Consumer Finance Podcast – Meet Troutman Pepper’s Bank Regulatory Team

The Consumer Finance Podcast – Loan Securitization Trusts as Subject to CFPB’s Enforcement Authority: The Implications of a Recent Court Decision Affirming Such Authority

The Consumer Finance Podcast – Navigating Ancillary Products in Auto Finance

FCRA Focus Podcast – The Fair Credit Billing Act: Key Insights and Practical Tips

The Crypto Exchange Podcast – Unpacking the Lummis-Gillibrand Payment Stablecoin Act: Implications for the Digital Asset Industry

Unauthorized Access Podcast – The Team Continues to Grow: A Conversation With Our Newest Colleague, Kaitlin Clemens


Weekly Newsletters

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of June 24, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of June 17, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of June 10, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of June 3, 2024

Insight Industries + Practices