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1 month ago | 
lexology.com | Matthew Bornfreund |James Kim |Caleb Rosenberg |Alexandra Steinberg Barrage |Christopher J. Capurso |Taylor Gess
On January 8, Senate Bill No. 1252 (SB 1252) was introduced to the Virginia General Assembly, aiming to amend and reenact sections of the Code of Virginia related to the application of usury rates. Just two weeks ago, the bill was passed by both the House and Senate. Opponents of the bill contend that the language and effect is very unclear, but that broad language and stringent provisions could stifle innovation and ultimately harm consumers by limiting their access to credit.
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2 months ago | 
jdsupra.com | Christopher J. Capurso |Brooke Conkle |Stefanie Jackman
On January 29, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report analyzing the auto lending market’s impact on servicemembers. This report indicates that servicemembers face heightened financial challenges in the auto lending market, including higher loan amounts, interest rates, and monthly payments. Despite these challenges, servicemembers were less likely to experience vehicle repossessions.
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2 months ago | 
jdsupra.com | Christopher J. Capurso |Brooke Conkle |Stefanie Jackman
As discussed here, in February 2023, the Consumer Financial Protection Bureau (CFPB or Bureau) launched the auto finance data pilot and issued nine market monitoring orders to three banks, three finance companies, and three captive lenders. This initiative aimed to gather comprehensive data on auto lending portfolios.
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Jan 15, 2025 | 
jdsupra.com | Christopher J. Capurso |Jason Cover |Mark J. Furletti
The Consumer Financial Protection Bureau (CFPB or Bureau) proposed a new rule aimed at banning certain contractual provisions in agreements for consumer financial products or services. The CFPB’s proposal targets certain terms and conditions sometimes found in so-called contracts of adhesion or standard-form contracts, including waivers of legal rights and protections, contract terms that limit free expression, and other terms that the CFPB believes undermine consumers’ rights and protections.
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Dec 5, 2024 | 
jdsupra.com | David Anthony |Christopher J. Capurso |Mark J. Furletti
On December 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed rule for public comment aimed at amending Regulation V, which implements the Fair Credit Reporting Act (FCRA).
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Nov 21, 2024 | 
jdsupra.com | Christopher J. Capurso |Brooke Conkle |Ethan G. Ostroff
Late last year, we discussed the Federal Communications Commission’s (FCC) new rule aimed at closing the “lead generator” loophole by requiring telemarketers to obtain one-to-one consent from consumers for robocalls and robotexts. This rule mandates that consent must be provided for each individual seller or brand, rather than allowing a single consent to apply to multiple telemarketers.
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Oct 16, 2024 | 
lexology.com | Caleb Rosenberg |Christopher J. Capurso
On October 4, the Consumer Financial Protection Bureau (CFPB) and the Federal Reserve Board (Fed) announced increased dollar thresholds used to determine whether certain consumer credit and lease transactions in 2025 are exempt from Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing).
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Oct 14, 2024 | 
jdsupra.com | Christopher J. Capurso |Brooke Conkle |Mark J. Furletti
The Federal Communications Commission (FCC) has announced new effective dates for amendments to rules under the Telephone Consumer Protection Act (TCPA) aimed at strengthening consumer protections against robocalls and robotexts. These amendments, published on March 5, 2024, will take effect on April 11, 2025.
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Oct 9, 2024 | 
jdsupra.com | Christopher J. Capurso |Brooke Conkle |Stefanie Jackman
On October 7, the Consumer Financial Protection Bureau (CFPB or Bureau) published the Fall edition of its Supervisory Highlights, focusing on examinations of the auto-finance market completed between November 1, 2023, and August 30, 2024. The report highlights significant findings across various aspects of consumers’ experiences with vehicle finance, including origination disclosures, repossession activities, servicing practices, the handling of add-on products, and credit reporting.
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Sep 9, 2024 | 
jdsupra.com | Christopher J. Capurso |Brooke Conkle |Alan D. Wingfield
A recent ruling by the U.S. Court of Appeals for the Seventh Circuit affirming a decision compelling arbitration provides a “how to” guideline for using online terms and conditions to form a binding agreement. In Domer v. Menard, Inc., the plaintiff filed a putative class action lawsuit alleging that the defendant manipulated its prices by failing to disclose a $1.40 pickup service fee for her online order of a can of paint.
