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


Featured Posts/Client Alerts

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

The Current Landscape of Bank-Fintech Partnerships

California DFPI Proposes Extensive Rules Relating to Companies’ Responses to Consumer Complaints

Supreme Court Holds No Prejudice Necessary to Find Arbitration Waiver

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

DOJ’s Recent Guidance on Website Accessibility and the ADA — What Does It Tell Us?

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Introduction to The Consumer Finance Podcast

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter


Cryptocurrency

California Governor’s Blockchain Executive Order Calls for State and Federal Regulatory Harmony

Joint Chiefs of Global Tax Enforcement Issues Risk Indicators to Detect Illicit Financial Activity Involving NFTs

Department of Commerce Requests Public Comments on Digital Assets

Wyoming Amends DAO Legislation Enabling DAOs to Dictate Quorum Threshold on an Individual Basis


Privacy + Cybersecurity

Clearview and ACLU Reach Settlement to Limit Access to Photo Database

Connecticut Legislature Passes Comprehensive Privacy Legislation, Awaiting Governor’s Signature


Consumer Financial Protection Bureau (CFPB)

CFPB Probes ‘Suppressed’ Credit Card Payment Reporting

CFPB Releases a Warning — But No Helpful Guidance — on Machine Learning Model Adverse Action Notices

CFPB Issues Interpretive Rule Bolstering Enforcement Efforts by States

CFPB Launches New System to Promote Consistency Among Enforcers

CFPB Supervisory Report Finds Issues in Several Financial Institution Practices

CFPB Releases Spanish Language Translations of Reg E Forms, Models, and Samples


Credit Reporting + Data Brokers

California Supreme Court OKs Unlimited Fee Awards Against Holders of Credit Contracts


FCRA

Current Trends in FCRA Litigation

FTC and CFPB Join Forces on Amicus Brief Arguing That FCRA Does Not Distinguish Between Legal and Factual Inaccuracy

CFPB Argues the FCRA Requires Furnishers to Investigate Legal Issues Raised in Consumer Disputes

Court Reduces Punitive Damages Award in FCRA Case


Debt Buyers + Collectors

California Updates Debt Collectors on Processing Delays

Connecticut Issues Cease and Desist Against Lead Generator

Southern District of New York Enjoins New York Sheriffs From Retroactively Enforcing New York’s Fair Consumer Judgment Interest Act


FTC

Alvaro Bedoya Confirmed as Third Democrat at FTC


Fair Lending

CFPB’s 2021 Fair Lending Report Reframes Fair Lending to Include Nondiscrimination UDAAP Matters


Mortgage Lenders + Servicers

NY State Senate Passes Foreclosure Abuse Prevention Act


Class Actions

District Court Partially Grants Certification of Consumer Data Breach Class Action


Payment Processing + Cards

Treasury Department Proposes to Clarify That On-Demand Pay and Earned Wage Access Programs Are Not Loans

Complaint Dismissed Where Hacker-Induced Wire Transactions Authorized by Bank’s Customer