On May 26, the Consumer Financial Protection Bureau (the Bureau or CFPB) issued its third Circular, emphasizing that creditors must adhere to the Equal Credit Opportunity Act (ECOA) and
Continue Reading CFPB Circular 2022-03: Complex Lending Algorithms Cannot Excuse Failure to Provide Specific, Principal Reasons for an Adverse Credit Determination
Jonathan Huie
Jonathan Huie has deep experience in the areas of government enforcement and regulatory matters across the technology, financial services, and food and drug industries. He advises businesses of all sizes on internal investigations and consumer issues. Jonathan works closely with clients on risk management issues with the goal of avoiding costly litigation and represents them in antitrust and complex commercial disputes when litigation cannot be avoided.
CFPB to Issue Consumer Financial Protection Circulars to Increase Transparency and Align Enforcement
The Consumer Financial Protection Bureau (CFPB or the Bureau) announced it would begin issuing Consumer Financial Protection Circulars (Circulars) to a “broad set of government agencies responsible for enforcing federal…
Continue Reading CFPB to Issue Consumer Financial Protection Circulars to Increase Transparency and Align Enforcement
CFPB Advisory Opinion Clarifies that ECOA Applies Throughout Credit Lifecycle
On May 9, 2022, the Consumer Finance Protection Bureau (CFPB or the Bureau) issued an advisory opinion to clarify that the Equal Credit Opportunity Act (ECOA) and Regulation B (Reg…
Continue Reading CFPB Advisory Opinion Clarifies that ECOA Applies Throughout Credit Lifecycle
CFPB to Examine Nonbank Financial Companies – Including Fintechs – that Pose Risk to Consumers
As nonbanks comprise an ever-greater share of the consumer-finance market, on April 25, 2022, the Consumer Financial Protection Bureau (CFPB, or the Bureau) announced it would invoke its “unused” legal…
Continue Reading CFPB to Examine Nonbank Financial Companies – Including Fintechs – that Pose Risk to Consumers