News & Analysis as of

Fair Credit Reporting Act (FCRA)

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws its proposed rule on data brokers

On May 15, the CFPB published a Federal Register notice withdrawing its proposed rule on Protecting Americans from Harmful Data Broker Practices (Regulation V). The Bureau decided that this rulemaking was not necessary at...more

Holland & Knight LLP

CFPB Continues Efforts to Rescind Multiple Biden-Era Rules

Holland & Knight LLP on

The CFPB has withdrawn its 1) Fair Credit Reporting Act (FCRA)/Regulation V Proposed Rule (Data Broker Rule), 2) Prohibited Terms and Conditions in Agreements for Consumer Financial Products or Services (Regulation AA)...more

Sheppard Mullin Richter & Hampton LLP

CFPB Withdraws Guidance and Proposed Rules on Data Broker, Video Game Payments, and Contract Clauses

On May 15, the CFPB withdrew three Biden-era rulemaking proposals, including a December 2024 proposal to regulate data brokers as consumer reporting agencies under the Fair Credit Reporting Act (FCRA), a January proposal to...more

Troutman Pepper Locke

CFPB Withdraws Proposed FCRA Data Broker Rule

Troutman Pepper Locke on

Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed its decision to withdraw the proposed rule titled “Protecting Americans from Harmful Data Broker Practices (Regulation V)” in the Federal Register....more

Venable LLP

CFPB Withdraws Guidance Documents: A Shift Toward Regulatory Restraint

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) is taking a red pen to its own playbook.  In a sweeping move that signals a recalibration of its regulatory posture, the CFPB has announced the withdrawal of 67 guidance...more

Hudson Cook, LLP

Regulatory Reversal: CFPB's Withdrawal of Interpretive Guidance and Its Impact on the Rental Screening Industry

Hudson Cook, LLP on

On May 9, 2025, the Consumer Financial Protection Bureau (CFPB) formally withdrew dozens of interpretive rules, policy statements, advisory opinions, bulletins, and circulars issued over the past decade....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Locke

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) announced the withdrawal of 67 regulatory guidance documents, including interpretive rules, policy statements, and advisory opinions that have been issued since the...more

Goodwin

CFPB Shifts Focus Away From Small Business Lending and Buy Now, Pay Later Loans.

Goodwin on

The Consumer Financial Protection Bureau (Bureau) recently announced that it is deprioritizing certain enforcement and supervision actions. The Bureau explained that it will instead focus its limited resources on what it...more

Orrick, Herrington & Sutcliffe LLP

Eleventh Circuit affirms lower court FCRA decision

On May 5, the U.S. Court of Appeals for the Eleventh Circuit dismissed in part an individual plaintiff’s appeal and otherwise affirmed the district court. The plaintiff had alleged that the defendant violated the FCRA by...more

Orrick, Herrington & Sutcliffe LLP

District court grants partial CFPB win in credit reporting case

On May 5, the U.S. District Court for the Central District of California granted in part and denied in part a motion to dismiss filed by the defendant, a consumer reporting agency, in a case brought by the CFPB in January...more

Orrick, Herrington & Sutcliffe LLP

CFPB backs industry associations in bid to strike down medical debt rule

On April 30, the CFPB and two industry associations filed a joint motion with the U.S. District Court for the Eastern District of Texas requesting that the court vacate the Bureau’s medical debt rule. The associations,...more

Sheppard Mullin Richter & Hampton LLP

CFPB Withdraws Medical Debt Rule After Legal Challenge from Industry Groups

On May 1, the CFPB filed a joint motion with two financial trade groups to vacate a Biden-era rule barring most medical debt from appearing on consumer credit reports. The motion comes after lender groups filed a lawsuit in...more

Goodwin

CFPB Reports on Consumer Complaint Trends

Goodwin on

The Consumer Financial Protection Bureau (CFPB) recently issued its annual report analyzing the consumer complaints it received in 2024.  The CFPB collects complaints through its website, phone calls, and mail....more

Ballard Spahr LLP

CFPB, industry groups ask Federal Judge to kill bureau medical debt rule

Ballard Spahr LLP on

The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to...more

Seyfarth Shaw LLP

Washington’s Fair Chance Act: New Amendments Transform Employer Background Check Policies

Seyfarth Shaw LLP on

In 2018, Washington enacted a Fair Chance Act, requiring covered employers to wait until after considering an applicant to be “otherwise qualified” for the position at issue to inquire about or consider criminal history when...more

McGlinchey Stafford

Litigation Byte (April 2025 Edition)

McGlinchey Stafford on

Delivered in digestible, insightful bites, McGlinchey’s Litigation Byte is a monthly roundup of financial services decisions and cases nationwide that impact your business....more

McGlinchey Stafford

Court Awards No Actual, Statutory, Reputational, or Punitive Damages for FCRA Violation in Wrongful Termination Suit

McGlinchey Stafford on

Plaintiff brought action in the United States District Court for the Northern District of Georgia after being terminated by Defendant without receiving pre-adverse notice, in violation of the Fair Credit Reporting Act (FCRA)....more

Sheppard Mullin Richter & Hampton LLP

CFPB Shifts Supervision and Enforcement Priorities; Staff Reduction Stayed by Court

On April 16, the CFPB released an internal memo outlining major shifts in its supervision and enforcement priorities, signaling a retreat from several areas of regulatory activity. The next day, the Bureau issued formal...more

Troutman Pepper Locke

The Next FCRA Frontier: Identity Theft and CFPB Updates — FCRA Focus Podcast

Troutman Pepper Locke on

In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings bring you the latest updates from the regulatory and litigation sides of the house. Dave shares his insights on the challenges and litigation surrounding...more

Brownstein Hyatt Farber Schreck

Brownstein Secures Regulatory Relief Promoting Credit Access and Affordability

Over the past several weeks, litigation and government relations efforts have resulted in the accounts receivables management (“ARM”) industry achieving regulatory clarity, which will allow the industry to better serve...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void - Part...

Ballard Spahr LLP on

The podcast we are releasing today is part 1 of a re-purposed webinar we produced on March 25 titled “The Impact of the Election on the CFPB - Part 4.” As a result of the diminishing impact of the CFPB on enforcing the...more

Mitratech Holdings, Inc

From Hire to Retire: The Role of Background Checks Throughout the Employee Lifecycle

Explore how background checks play a crucial role throughout the entire employee lifecycle, from hiring to retirement. Learn how they mitigate risk, ensure compliance, and build a trustworthy workplace....more

Mitchell, Williams, Selig, Gates & Woodyard,...

Arkansas Legislative Update: New Technology, Privacy and Cybersecurity Laws

The Regular Session of the 95th General Assembly is set to adjourn sine die on Monday, May 5, 2025. During this session, the Arkansas legislature passed several bills relating to technology, privacy and cybersecurity which...more

McGlinchey Stafford

Federal Court Finds Causation Lacking on Negligence Claim Under FCRA, But Leaves Door Open on Claim of Willful Violation

McGlinchey Stafford on

A federal Judge for the United States District Court for the District of Arizona recently granted in part and denied in part a consumer reporting agency’s motion for summary judgment, with respect to claims raised by the...more

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