Articles + Publications November 4, 2024

In Case You Missed It: Consumer Financial Services Law Monitor – October 2024 in Review

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

Consumer Financial Protection Bureau (CFPB)

CFPB Issues Final Section 1033 Open Banking Rule: Legal Challenge Filed Immediately

August 2024 Consumer Litigation Filings: Everything Up for Month and YTD

Federal Agencies Announce Increased Regulations Z and M Dollar Thresholds for Exempt Consumer Credit and Lease Transactions, and Higher Threshold for Exemption from Mortgage Loan Appraisal Requirements

CFPB’s Fall Edition of Supervisory Highlights Focuses on Auto-Finance Market

CFPB Intensifies Scrutiny on Medical Debt Collection Practices

CFPB Proposes Amendments to Disclosure Requirements Under Remittance Transfer Rule

Fair Debt Collections Practices Act (FDCPA)

Eighth Circuit Vacates Defense Summary Judgment on FDCPA Claim Due to Plaintiff’s Lack of Standing

Federal Trade Commission (FTC)

Lawsuit Filed Challenging FTC’s Final Negative Option Rule

FTC Finalizes Amendments to Negative Option Rule

Regulatory Enforcement + Compliance

New Jersey Attorney General Releases Report on Republic First Bank’s Unlawful Redlining Practices

California DFPI’s Earned Wage Access Regulations Approved by OAL

DOJ Reaches Historic Multi-Million Dollar Redlining Settlement With Citadel Federal Credit Union

The OCC and Illinois Attorney General File Opposing Briefs on Interchange Fee Prohibition Act

Massachusetts Federal Court Orders Key Credit Repair to Pay $50M for Misleading Claims and Advance Fees

Fourth Circuit Affirms Denial of Motion to Compel Arbitration Finding Duty to Read a Contract Does Not Encompass Scrolling Through Multiple Pages of Hyperlinks in a Digital Agreement

Cryptocurrency + Fintech

California Extends Compliance Deadline for Digital Financial Asset Businesses

Debt Buyers + Collectors

Minnesota Attorney General Shuts Down Debt Settlement Companies

NYC DCWP Delays Enforcement of Amended Debt Collection Rules

New York City’s Amended Debt Collection Rules Draw Legal Challenge

Mortgage Lending

DOJ and CFPB Announce Landmark Redlining Settlement With Fairway Independent Mortgage Corporation

Update: Mortgage Noteholders Patiently Wait as Second Circuit Punts FAPA Retroactive Application Question To New York Court Of Appeals

Privacy + Cyber

New York Department of Financial Services Issues New Guidance on Cybersecurity Risks Arising from Artificial Intelligence

Telephone Consumer Protection Act (TCPA)

Effective Dates Announced for Amendments to TCPA Rules

Supreme Court Grants Certiorari: Revisiting the Hobbs Act and FCC Interpretations

Podcasts

The Consumer Finance Podcast – Introducing Heryka Knoespel: A New Partner at Troutman Pepper

The Consumer Finance Podcast – Navigating Hot Topics in Consumer Finance: Litigation Trends, Regulatory Changes, and Medical Debt Collection

The Consumer Finance Podcast – Exploring AI’s Potential in Financial Services With John Sun of SpringLabs

The Consumer Finance Podcast – Navigating the CFPB’s Controversial Interpretive Rule on BNPL Products

The Consumer Finance Podcast – CFPB’s Focus on Student Loan Servicing: Insights from the Office of Servicemember Affairs Report

The Crypto Exchange Podcast – Crackdown on DeFi? An Examination of the CFTC’s Enforcement Action Against Uniswap

Moving the Metal: The Auto Finance Podcast – Dissecting Oral Arguments in NADA’s Challenge to the CARS Rule

Payments Pros Podcast – AI in Payments: Practical Applications and Legal Insights

Payments Pros Podcast – Navigating Regulatory Waters: Recent Enforcement Actions in BaaS

Payments Pros Podcast – The Evolving Landscape of B2B Payments: Regulatory Trends and Financial Practices Explained

Newsletters

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of October 28, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of October 21, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of October 14, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of October 7, 2024

Troutman Pepper Weekly Consumer Financial Services Newsletter – Week of September 30, 2024

Insight Industries + Practices

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Firm News

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Speaking Engagements

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Webinar

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