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Alston & Bird Consumer Finance ABstract

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Consumer Finance Team

About Consumer Finance Team

Alston & Bird’s Consumer Financial Services team is a preeminent group of lawyers who are focused on the regulation of consumer credit and real estate, with a broad emphasis on origination, servicing and secondary mortgage market transactions.

As Economic Winds Blow, So Do Whistleblowers: How to Protect Your Company Through Turbulent Times

March 14, 2023 By Consumer Finance Team

A&B ABstract: As recently reported by the Financial Times, banks are preparing for the “deepest job cuts since the financial crisis,” with firings to be “super brutal.” Already, nonbank lenders and service providers have been suffering with several rounds of layoffs and, potentially, more to come. Former employees, particularly disgruntled ones, may have information they […]

Filed Under: Department of Justice, Uncategorized Tagged With: #SEC, complaints, Department of Justice, DOJ, Securities and Exchange Commission, whistleblower

Alston & Bird Adds Consumer Finance Partner Aldys London in Washington, D.C.

September 23, 2022 By Consumer Finance Team

Alston & Bird has strengthened and expanded its capabilities for advising companies on state and federal consumer finance regulatory compliance issues with the addition of partner Aldys London in the firm’s Washington, D.C. office. Her clients include mortgage companies, consumer finance and FinTech companies, secondary market investors, real estate companies, home builders, insurance companies, banks, and other […]

Filed Under: Fair Credit Reporting Act (FCRA), Gramm Leach Bliley Act (GLBA), Home Mortgage Disclosure Act (HMDA), Licensing, Mortgage Loans, Real Estate Settlement Procedures Act (RESPA), TRID, Truth in Lending Act (TILA) Tagged With: #FCRA, ECOA, licensing, mortgage lending, Mortgage Servicing, RESPA, TILA

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

June 28, 2022 By Consumer Finance Team

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 Consumer Finance Team

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 Consumer Finance Team

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

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Recent Posts

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  • California DFPI Digital Asset Lending Regulatory Year in Review
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