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


CONSUMER FINANCIAL PROTECTION BUREAU (CFPB)

Small Business Lenders Score Big Relief: Texas Federal District Court Grants Nationwide Injunction Against CFPB’s Implementation and Enforcement of its Section 1071 Rule

CFPB Launches Rulemaking to “Jumpstart” Open Banking

CFPB Advises Large Banks on Compliance with CFPA § 1034(c)

Supreme Court Hears Arguments on Challenge to CFPB’s Funding Structure

October 11 Was a Red-Letter Day in the Growing Federal-State War on Fees

Federal Agencies Finally Weigh in on Immigration Status in Credit Underwriting


FAIR CREDIT REPORTING ACT (FCRA)

CFPB Extends Deadline for FCRA Rulemaking Feedback by One Week

Third Circuit Finds No Exception Under FCRA for a Furnisher’s Failure to Investigate “Frivolous” Indirect Dispute

A Tale of Two Credit Scores: Illinois Federal Court Denies Class Certification Of “Misleading” Credit Score Case

Wisconsin Federal District Court Denies Cross-Motions for Summary Judgment Holding the Reasonableness of Furnisher’s Investigation a Jury Determination


REGULATORY ENFORCEMENT + COMPLIANCE

FTC and Wisconsin DOJ Settle with Auto Group over Alleged Illegal Add-Ons and Discrimination Against American Indian Consumers

TransUnion Settles for $15 million with CFPB and FTC Over Tenant Screening Reports

SEC’s 2024 Examination Priorities: Implications for Consumer Financial Services

Connecticut Banking Regulator Reduces Fine Against Defunct Collection Firm

California Finalizes Amendments to Student Loan Servicing Act

DOJ Announces Two More Multi-Million Dollar Redlining Settlements, States Two Dozen More Active Investigations Underway


FAIR DEBT COLLECTION PRACTICES ACT (FDCPA)

For Your Information: Third Circuit Rejects Article III Standing Based on Informational Injury Doctrine in FDCPA Class Action

Georgia Federal Court Holds that Service of a Complaint Triggers the Statute of Limitations for a Subsequent FDCPA Claim

Letter Vendor Claim Remanded to State Court for Lack of Standing


DEBT BUYERS + COLLECTORS

NJ Appellate Division Finds No Private Right of Action for Debt Purchaser’s Alleged Failure to Obtain State License

NYC Department of Consumer and Worker Protection Proposes Amendments to Debt Collection Rules

Utah State Court Rejects Claim Based on Debt Collector’s Alleged Failure to Register Under Collection Agency Act


TELEPHONE CONSUMER PROTECTION ACT (TCPA)

New Federal District Court Decision Allows Secondary Liability Theory Under TCPA to Proceed


PRIVACY + CYBER

FTC Amends Safeguards Rule to Require Reporting of Data Breaches

California Takes an Aggressive Approach to Regulating Data Brokers


BANKING

Lenders Take Note: Federal Banking Agencies Issue Long-Awaited Community Reinvestment Act Final Rule

Supreme Court to Decide Commencement of APA Statute of Limitations Period in Debit Card Fee Challenge

Amici Tell Fourth Circuit that District Court Ruling Imperils Funds Transfer Laws


CRYPTO

SEC Dismisses Ripple Labs Executives After Losing Bid for Interlocutory Appeal


STATE ATTORNEYS GENERAL

Washington AG Ordered to Pay $4.3M in Attorney’s Fees and Costs to Thrift Store Chain


PODCASTS

The Consumer Finance Podcast: Bank Investigations and Enforcement Actions: Lessons Learned

Payments Pros Podcast: Chronic Payments: Unraveling the Complexities of Cannabis Banking

The Consumer Finance Podcast: Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot

The Consumer Finance Podcast: December 1st Deadline to Adopt Executive Compensation Clawback Policies

Payments Pros Podcast: Unraveling the Legal Threads: A Deep Dive Into Earned Wage Access

The Consumer Finance Podcast: Practical Lessons Learned Regarding the Bank Secrecy Act and Anti-Money Laundering for Financial Institutions