Financial services companies - banks, non-bank lenders and loan servicers, auto finance companies, student loan companies, debt collectors, credit card issuers, non-traditional finance companies, and other market participants - face numerous legal challenges today, including government investigations and enforcement actions, a shifting regulatory landscape, novel civil litigation theories and other litigation risks. Especially as the Consumer Financial Protection Bureau and other regulators issue guidance and promulgate new rules and regulations impacting the consumer finance industry, it is now more critical than ever that corporate counsel stay abreast of these developments and related enforcement and litigation trends in order to manage institutional risks. Recognizing this need, Goodwin's LenderLaw Watch monitors, chronicles and analyzes news and legal issues impacting our clients and the consumer finance industry.
Among the wide-range of topics LenderLaw Watch will cover are recent developments in:
  • State and federal enforcement actions
  • Consumer protection statutes and regulations
  • Consumer protection litigation
  • TILA, RESPA and other federal notice/disclosure requirements
  • Financial institution fraud, including claims under state and federal False Claims Acts and FIRREA
We welcome you to our site and encourage you to provide feedback and contact us with any questions.
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CFPB Considering Debt Collection Reform Proposals

CFPB  •  Debt Collection  •  FDCPA  •  Goodwin Procter News  •  Regulation  •  Regulation Primers  •  What You Need To Know - Background Info On Current Issues
*Editor’s Note:  This post originally appeared on our firm site as a client alert. Summary On July 28, the Consumer Financial Protection Bureau (the CFPB) released a summary of proposals it is considering to reform […]

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CFPB Issues Special Mortgage Servicing Report, States Intention to Use Fair Lending Laws to Target Discriminatory Loan Modification Practices

CFPB  •  Default Servicing  •  Enforcement  •  Fair Lending / Fair Servicing  •  Mortgage
On June 22, 2016, the CFPB issued a Mortgage Servicing Supervisory Highlights Special Edition Report, and concluded that mortgage servicers may be violating the servicing rules that the CFPB enacted in January 2014, as a […]

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CFPB Releases Report on Single-Payment Vehicle Title Loans

CFPB  •  Debt Collection  •  Small Dollar Lending/Lenders  •  What You Need To Know - Background Info On Current Issues
Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a report analyzing consumer usage and default patterns for certain single-payment vehicle title loans (the “Report”).  Vehicle title loans are loans issued to borrowers by non-depository […]

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Eleventh Circuit Appellate Panel Finds FDCPA Claims Not Preempted by the Bankruptcy Code on Time Barred Debts

Bankruptcy  •  Debt Collection  •  FDCPA
EDITOR’S NOTE:  This post was guest-authored by Christopher J. Somma, an attorney in Goodwin Procter’s Consumer Financial Services Litigation Practice.  Mr. Somma represents clients in distressed loan workouts, forbearances, restructurings, commercial and residential foreclosures, UCC foreclosure sales, distressed […]

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