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2 months ago | 
jdsupra.com | Eric T. Mitzenmacher |Kerri Webb
Join us for a new episode of Financial Services Focus with partner Eric Mitzenmacher and associate Kerri Webb, as they discuss the CFPB's recently proposed FCRA rulemaking, which, if finalized as proposed, would affect the availability and use of certain information about consumers—particularly with respect to data brokers. In this episode, we provide some background on the proposed data broker rule, the CFPB's goals for the proposal, and the potential impacts of the rule if enacted.
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Apr 10, 2024 | 
lexblog.com | Kris D. Kully |Tori K. Shinohara |Jeffrey Taft |Kerri Webb
On March 29, 2024, the United States District Court for the Northern District of Texas issued a preliminary injunction prohibiting enforcement of the new Community Reinvestment Act (“CRA”) regulations against the plaintiffs in the case.
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Mar 29, 2024 | 
jdsupra.com | Francis L. Doorley |Kerri Webb
On January 24, 2024, the Consumer Financial Protection Bureau (“CFPB”) launched the latest salvo in its war against so-called “junk fees” by issuing a proposed rule that would prohibit financial institutions from charging consumers insufficient funds fees on transactions that are instantaneously, or nearly instantaneously, declined (the “Proposed Rule”).1 The Proposed Rule is unique and noteworthy for two reasons: first, because the Proposed Rule would proactively ban a fee that the CFPB...
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Dec 5, 2023 | 
mondaq.com | Kristie D. Kully |Jeffrey Taft |Kerri Webb
The US federal banking regulators recently finalized major
changes to their decades-old Community Reinvestment Act (CRA)
regulations, which will have significant consequences for many US
banks.
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Oct 22, 2023 | 
mondaq.com | Jeffrey Taft |Amber Thomson |Kerri Webb
On September 25, 2023, the Consumer Financial Protection Bureau
("CFPB") began its most substantial Fair Credit Reporting
Act("FCRA") rulemaking yet with an outline of proposed
changes to Regulation V, which implements FCRA, ahead of the
Bureau's Small Business Advisory Review Panel.1 The
proposals under consideration could have a substantial impact on
the data brokerage industry, if implemented.
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Oct 20, 2023 | 
lexblog.com | Jeffrey Taft |Amber Thomson |Kerri Webb
Jeffrey Taft is a partner in the Firm’s Financial Services Regulatory & Enforcement group and the Cybersecurity and Data Privacy practice. His practice focuses primarily on bank regulation, bank receivership and insolvency issues, payment systems, consumer financial services and cybersecurity/privacy issues. He has…Jeffrey Taft is a partner in the Firm’s Financial Services Regulatory & Enforcement group and the Cybersecurity and Data Privacy practice.
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Oct 19, 2023 | 
lexblog.com | Jeffrey Taft |Amber Thomson |Kerri Webb
On September 25, 2023, the Consumer Financial Protection Bureau (“CFPB”) began its most substantial Fair Credit Reporting Act (“FCRA”) rulemaking yet with an outline of proposed changes to Regulation V, which implements FCRA, ahead of the Bureau’s Small Business Advisory Review Panel.1 The proposals under consideration could have a substantial impact on the data brokerage industry, if implemented.
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Oct 19, 2023 | 
lexology.com | Jeffrey Taft |Amber Thomson |Kerri Webb
On September 25, 2023, the Consumer Financial Protection Bureau (“CFPB”) began its most substantial Fair Credit Reporting Act (“FCRA”) rulemaking yet with an outline of proposed changes to Regulation V, which implements FCRA, ahead of the Bureau’s Small Business Advisory Review Panel.1 The proposals under consideration could have a substantial impact on the data brokerage industry, if implemented.
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Jun 5, 2023 | 
mondaq.com | Francis L. Doorley |Tori K. Shinohara |Kerri Webb
The U.S. Consumer Financial Protection Bureau (CFPB or the
Bureau) has published its final rule implementing Section 1071 of
the Dodd-Frank Act.1 The rule requires lenders to
collect and report data about their small business lending
activities, with the purpose of facilitating enforcement of fair
lending laws with respect to women-owned, minority-owned, and small
businesses. The 888- page rulemaking has been long-awaited by
industry participants and advocacy groups.
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Apr 3, 2023 | 
lexblog.com | Tori K. Shinohara |Francis L. Doorley |Kerri Webb
On March 30, 2023, the US Consumer Financial Protection Bureau (“CFPB”) published its long-awaited final rule requiring lenders to collect and report data about their small business lending activities. The final rule implements Section 1071 of the Dodd-Frank Act, which was designed to effectuate fair lending laws with respect to women-owned, minority-owned and small businesses.
