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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Treasury Department Weighs in on Online Marketplace Lending

Fair Lending / Fair Servicing  •  Online  •  Regulation  •  Small Dollar Lending/Lenders  •  What You Need To Know - Background Info On Current Issues
On May 10, 2016, the U.S. Treasury Department released a white paper entitled, “Opportunities and Challenges in Online Marketplace Lending.”  The white paper is the result of a request for information that elicited more than […]

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Consumer Financial Protection Bureau Proposes Rules Prohibiting Class-Action Waivers in Arbitration Agreements

CFPB  •  Class Actions  •  Litigation  •  What You Need To Know - Background Info On Current Issues
On May 5, 2016, the Consumer Financial Protection Bureau issued long-expected proposed rules that will drastically limit the use of pre-dispute arbitration clauses in contracts for consumer financial products and services. First, the proposed rules […]

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Third Circuit Finds That Rule 2004 Examination Subpoena Did Not Violate the Fair Debt Collection Practices Act

About Our Attorneys  •  Bankruptcy  •  Litigation
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 […]

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Federal Trade Commission Issues Report to the Consumer Financial Protection Bureau of its Enforcement of the Fair Debt Collection Practices Act

About Our Attorneys  •  CFPB  •  Debt Collection  •  Dodd-Frank  •  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 […]

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