In this episode of FCRA Focus, host Kim Phan is joined by Michael Yaghi, partner in Troutman Pepper Locke’s Regulatory Investigations, Strategy, and Enforcement practice group, to unpack the California Department of Financial Protection and Innovation’s (DFPI) latest effort to require registration for the credit reporting industry.
The National Credit Union Administration today announced the sixth round of proposed regulatory changes associated with NCUA’s Deregulation Project. The project is an ongoing review of NCUA’s regulations to ensure regulations are focused on credit unions’ safety, soundness, and resilience.
Governor Kathy Hochul today announced that the Department of Financial Services has published proposed rules to protect New Yorkers using Buy Now, Pay Later financing options. The regulations put into practice the law signed by Governor Hochul as a part of her FY26 Budget, establishing a licensing and supervision framework for Buy Now, Pay Later loan providers, and protecting consumers through required disclosures, dispute resolution standards, limits on fees, and data privacy protections.
The Federal Deposit Insurance Corporation (FDIC) today released the results of its latest Quarterly Banking Profile, a comprehensive summary of financial results based on reports from 4,336 insured commercial banks and savings institutions.
On February 3, the U.S. Court of Appeals for the 7th Circuit vacated a lower court’s dismissal of a federal consumer protection lawsuit and remanded the case for further proceedings. The plaintiff had filed FDCPA and TILA claims against a credit union and its insurer, alleging that after an Indiana state court entered a garnishment order to collect an unpaid balance exceeding $40,000, the defendants engaged in unauthorized post-judgment debt collection, false reporting, and failed to provide accurate disclosures.
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