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Brian Johnson

About Brian Johnson

Brian Johnson is a partner in Alston & Bird’s Financial Services & Products Group and the Consumer Financial Services Team.

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Joint Trade Associations Reject the CFPB’s “Discrimination-Unfairness” Theory

June 28, 2022 By Brian Johnson

In a June 28 letter to Director Chopra and accompanying White Paper and press release, the ABA, CBA, ICBA, and the U.S. Chamber of Commerce have called on the Consumer Financial Protection Bureau (CFPB or Bureau) to rescind recent revisions made to its UDAAP examination manual that had effectuated the CFPB’s controversial theory that alleged […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act, Equal Credit Opportunity Act (ECOA), Federal Trade Commission (FTC), Unfair, Deceptive and Abusive Acts or Practices (UDAAP) Tagged With: #CFPB, UDAAP

Did the CFPB Have Authority to Issue its RFI Regarding Employer-Driven Debt?

June 13, 2022 By Brian Johnson

A&B Abstract The CFPB’s statutory authority to issue a recent request for information (RFI) regarding employer-driven debt is in doubt, which may affect the utility of any comments submitted in response to its request. Background On June 9, the CFPB issued an RFI Regarding Employer-Driven Debt. The RFI seeks comment on several areas of inquiry […]

Filed Under: Consumer Financial Protection Bureau (CFPB) Tagged With: #CFPB

CFPB Continues Scrutiny of Algorithmic Technology

June 8, 2022 By Josh Dhyani and Brian Johnson

On May 26, 2022 the Consumer Financial Protection Bureau released a Consumer Financial Protection Circular stating that creditors utilizing algorithmic tools in credit making decisions must provide “statements of specific reasons to applicants against whom adverse action is taken” pursuant to ECOA and Regulation B. The CFPB previously stated that circulars are policy statements meant […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Equal Credit Opportunity Act (ECOA), Fintech Tagged With: #CFPB, AI, Fair Lending, machine learning

CFPB’s SBREFA Outline on Automated Valuation Models Rekindles Debate over Disparate Impact Liability under the ECOA

February 26, 2022 By Brian Johnson and Melissa Malpass

Section 1473(q) of the Dodd-Frank Act (now codified at 12 U.S.C. § 3354(q)) amended the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (“FIRREA”) to instruct the CFPB, Fed, OCC, FDIC, NCUA, and FHFA (collectively, the “agencies”) to jointly develop regulations for quality control standards for automated valuation models (“AVMs”), defined as “any computerized […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act, Equal Credit Opportunity Act (ECOA), Supreme Court Decisions Tagged With: #CFPB, Fair Lending

Update regarding the BrightSpeed payment processor case

January 19, 2022 By Brian Johnson

On January 18, after approximately fourteen months of settlement negotiations, the CFPB announced that it secured a settlement agreement with BrightSpeed Solutions, Inc., a third-party payment processor that had ceased operations nearly three years ago. As we reported in greater detail in a prior post, the CFPB asserted jurisdiction to bring its complaint against BrightSpeed […]

Filed Under: Consumer Financial Protection Bureau (CFPB), Dodd-Frank Act Tagged With: #CFPB

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