Our podcast show today features John Culhane and Mike Kilgarriff, partners in Ballard Spahr’s Consumer Financial Services group. They discuss what supervision and enforcement will look like under a new acting director/director appointed by President Trump. This episode is a repurposing of the second half of a webinar that was produced on January 6. On January 23, we released the first half of the webinar, which consisted of Alan Kaplinsky’s “fireside chat” with Kathy Kraninger, the former Director of the CFPB during Trump 1.0., linked here.
The Consumer Financial Protection Bureau (CFPB) today ordered the international remittance company Wise to pay nearly $2.5 million for a series of illegal actions, including advertising inaccurate fees and failing to properly disclose exchange rates and other costs.
Today, the Consumer Financial Protection Bureau (CFPB) published a report showing that United States servicemembers pay higher costs and face greater financial risks than civilian borrowers when taking out credit to buy a car. The report analyzes more than 20 million auto loans originated between 2018 and 2022, and finds that servicemembers typically have larger loans, make smaller down payments, and ultimately shoulder higher monthly costs.
Last week, the U.S. Court of Appeals for the Third Circuit issued an opinion denying class certification in a case under the Telephone Consumer Protection Act (TCPA) finding common issues did not predominate the individual inquires. The decision further clarified the application and constitutionality of the statute to unsolicited fax advertisements.
The Telephone Consumer Protection Act (TCPA), 47 U.S.C. § 227, was enacted in 1991 “to protect the privacy interests of residential telephone subscribers,” according to the act’s legislative history. The TCPA provides for a “do-not-call list,” a registry that allows consumers to opt out of receiving unsolicited telemarketing calls. The primary purpose of the do-not-call list is to give individuals a way to limit the number of unwanted sales calls they receive. The TCPA provides consumers with a private right of action.
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