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Insights / events

Presentation

Consumer Financial Protection Bureau: Non-Financial Firms Now in the Crosshairs?

Read Time: 1 min

The Consumer Financial Protection Bureau is a powerful enforcement agency with aggressive leadership. Banks and other financial institutions are rightly focused on understanding the Bureau’s evolving priorities, objectives, and strategies, but a key part of the Bureau’s stated enforcement and supervision strategy is expanding its reach into “non-financial” firms that have a significant role in the financial lives of consumers, with an emphasis on the technology industry.

David Tallman (Houston/Dallas) is speaking on a panel “Consumer Financial Protection Bureau: Non-Financial Firms Now in the Crosshairs” at The University of Texas School of Law’s 8th Annual Government Enforcement Institute (UTGEI) in Dallas, Texas on September 15, 2022. This panel will discuss where the Bureau is headed, the legal theory underpinning its strategy, and what non-financial firms can do to prepare.

The University of Texas School of Law’s 8th Annual Government Enforcement Institute (UTGEI) is one of the premier enforcement programs in the country, bringing together the top enforcement practitioners, in-house counsel, compliance professionals, and agency personnel. Hear from some of the nation’s most prominent authorities on key issues and strategies for protecting companies and executives in government investigations. Learn more.

Insights

Deep Dive into Consumer Finance

Introduction: A Deep Dive into Privacy

January 27, 2023

The world of cybersecurity and privacy have grown exponentially in recent years, both on the federal and state level. A pandemic-driven shift to remote has increased social media interaction, and electronic communication with state and federal governments increasingly focused on big data and the use and sharing of consumer information.

Presentation

ABA Consumer Financial Services Committee Winter Meeting 2023

January 21-24, 2023

Four McGlinchey attorneys will participate in panel discussions during the American Bar Association (ABA) Business Law Section Consumer Financial Services Committee Winter Meeting at the Ritz Carlton, New Orleans, on January 21-24, 2023.

Published Article

Extensions on extensions: Financing despite low inventory

August 1, 2022

Dealers continue to struggle with inventory shortages that frustrate sales staff and potential customers. In many cases, potential customers are ready, willing and able to finance a specific vehicle or type of vehicle if it becomes available within a month — or possibly within two, three or even four months in the current environment. This raises questions about how dealers can respond when customers want to finance vehicles that may remain unavailable for months.

Published Article

CFPB zeros in on Servicemembers Civil Relief Act

July 26, 2022

Continuing a recent trend of highlighting potential unfair and deceptive acts or practices (UDAAP) within the auto loan servicing industry, the Consumer Financial Protection Bureau (CFPB) recently issued a new blog post focusing on the Servicemembers Civil Relief Act (SCRA). Auto loan servicers and dealerships may want to review their SCRA policies and procedures to ensure they comply with the law and provide the requisite protection for active military members prior to repossessing collateral.  

Published Article

Powersports and the CFPB: Fair lending, fees, repossessions, and voluntary products

June 28, 2022

The CFPB has announced a clear focus on fair lending, “junk” fees, voluntary protection products, and repossessions. Each of these focus areas will require powersports finance companies to reconsider their relationships with service providers whose value proposition is to be the “brain” behind complex operational functions like credit decisioning, payment processing, and default servicing.

Published Article

FDIC Final Rule and its Impact on Bank Partnerships

June 16, 2022

On May 17, 2022, the Federal Deposit Insurance Corporation (FDIC) adopted a final rule establishing a new subsection B to the Federal Deposit Insurance Act (FDIA) addressing False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo.