Ad Law Access
CFPB Obtains $13M FCRA Settlement with Employee Background Screening Providers
The CFPB recently initiated an enforcement action against General Information Services (GIS) and its affiliate, e-Background-checks.com, Inc. (BGC) for allegedly violating the Fair Credit Reporting Act (FCRA) by…
Reauthorization of MOU Between CFPB and FTC Promotes Regulatory "Harmony"
The Federal Trade Commission (“FTC”) and the Consumer Financial Protection Bureau (“CFPB”) announced on March 12 the reauthorization of the Memorandum of Understanding (“MOU”) entered into by the two agencies on…
NY AG Settlement with Three Largest National Credit Reporting Agencies Promises Critical Reform to Credit Reporting Industry
On March 9, 2015, New York Attorney General Eric Schneiderman announced its settlement with the nation’s three largest national credit reporting agencies (“CRAs”): Experian, Equifax, and TransUnion. This announcement…
CFPB Proposes Rule on Prepaid Products to Extend Certain Credit Requirements and Mandate Disclosures
The Consumer Financial Protection Bureau released last week a proposed rule that would impose an array of new requirements on prepaid accounts. The proposed new definition of “prepaid account” would include general…
CFPB Director Cordray Testifies Before House Financial Services Committee
CFPB Director Richard Cordray testified before the House Financial Services Committee today, fielding questions and comments on an array of issues from the CFPB’s data collection practices to the Qualified Mortgage…