What Happened? On January 11, 2024, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued two separate advisory opinions interpreting consumer reporting agencies’ (“CRAs”) obligations under the Fair Credit Reporting Act (“FCRA”). … [Continue reading] about CFPB Issues FCRA Advisory Opinions Addressing Background Screenings and Credit File Sharing Practices
New Florida Law Restricts Foreign Nationals’ Land Ownership
What Happened? In a development that is becoming a trend in state legislatures, effective July 1, 2023, the Florida Senate passed a bill that restricts certain foreign nationals from acquiring property in the state. Why Is It Important? Florida … [Continue reading] about New Florida Law Restricts Foreign Nationals’ Land Ownership
CFPB Touts 2023 Greatest Hits and Casts a Line for Enforcement Hires
What Happened? Earlier this week, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released a blog post touting its 2023 successes in safeguarding "household financial stability" through the levying of fines and filing of … [Continue reading] about CFPB Touts 2023 Greatest Hits and Casts a Line for Enforcement Hires
Consumer Finance State Roundup
With the beginning of the 2024 legislative session, we return to the Consumer Finance State Roundup, which is intended to provide a brief overview of recently enacted legislation of potential interest. To date in January, one state has enacted a … [Continue reading] about Consumer Finance State Roundup
New York DFS to Impose Climate Change Safety and Soundness Expectations on Mortgage Lenders, Servicers, and other Regulated Organizations
What Happened? On December 21, 2023, the New York Department of Financial Services (“NYDFS”) published an 18-page guidance document (the “Guidance”) on managing material, financial and operational risks due to climate change. The NYDFS issued the … [Continue reading] about New York DFS to Impose Climate Change Safety and Soundness Expectations on Mortgage Lenders, Servicers, and other Regulated Organizations