Our podcast show being released today is part 2 of a repurposed interactive webinar that we presented on March 24 featuring two of the leading journalists who cover the CFPB – Jon Hill from Law360 and Evan Weinberger from Bloomberg.
Let’s face it: no one enjoys being audited. Especially when the auditor is an outsider. It can feel intrusive, even a little threatening. But the best audits act like a mirror—offering a clear, unfiltered reflection of what’s really happening, not just what leadership hopes is happening.
In this episode of "Clearly Conspicuous," consumer protection attorney Anthony DiResta delves into the shifting landscape of consumer protection regulation amid significant policy and administrative changes at federal agencies such as the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB). Mr. DiResta explores how these changes affect the enforcement of consumer protection laws and discusses the growing roles of state attorneys general and the media in shining a spotlight on corporate misconduct.
The Consumer Financial Protection Bureau (CFPB or Bureau) agreed to vacate its controversial credit card late fee rule in a joint motion for entry of consent judgment filed in Chamber of Commerce of the United States of America v. CFPB yesterday. This significant move comes after the U.S. District Court for the Northern District of Texas found that the rule likely violated the Credit Card Accountability and Disclosure Act (CARD Act). The consent judgment marks a pivotal resolution in the case, with the CFPB acknowledging that the rule failed to allow card issuers to impose penalty fees that are “reasonable and proportional” to violations, as required by the CARD Act.
Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate.
“Trigger leads” are controversial for both consumers and mortgage industry participants. When a mortgage lender orders a credit report on a consumer, the credit bureau providing the report may then alert various other mortgage lenders who have subscribed to a service of that fact, which is a good indication that the consumer is seeking a mortgage loan.
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