Financial services advertising and marketing occurs in an increasingly regulated and evolving legal landscape.  This quick hit with attorneys from Venable LLP explored the latest legal trends and developments in financial services advertising and marketing. Topics included:

  • COVID-19 impact on consumer and business lending advertising;
  • lead generation, influencer, and other emerging marketing methods;
  • regulatory outlook

request for informationCFPB Expands Call for Evidence with Additional RFIs

The CFPB has now issued six RFIs as part of Acting Director Mulvaney’s Call for Evidence Regarding Consumer Financial Protection Bureau Functions, which we have previously covered. The RFIs provide industry participants a chance to comment on the CFPB’s rules, policies, and practices regarding investigations, examinations, enforcement

Sitting en banc, the U.S. Court of Appeals for the DC Circuit ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is constitutional. By a vote of 7 to 3, the full panel of judges reversed an earlier panel decision that took issue with the independent agency’s single-director structure. The en banc decision left intact

In an internal email to CFPB staff, Director Cordray announced that he will be stepping down by the end of the month. Industry participants and observers have long speculated that Director Cordray might leave office prior to the expiration of his five-year term (July 2018) to run for governor of Ohio.

Upon his departure, Director

cash and credit cardsThe CFPB’s Arbitration Rule has been sent to the President’s desk to join 14 other federal agency regulations that have been repealed under the Congressional Review Act (CRA). The disapproval resolution, which was passed by the House in July, was passed by the Senate late in the evening on October 24. The rule would have

In this issue we discuss that under the cloud of speculation hanging over the CFPB they continue to launch supervisory examinations and enforcement investigations, and also held a public event on June 22 discussing the Public Student Loan Forgiveness Program.

Also in this issue is commentary around a top state regulator issued a reminder to

cash and credit cardsA circuit split regarding the SEC’s administrative law judges, an internal CFPB playbook and memo on their examination process, and a recent field hearing on small business lending are at the forefront of the May 18 edition of Venable’s Consumer Financial Services Digest.

In this issue, we highlight the circuit split between the Tenth Circuit

financial lawBusiness lending, negative option programs, and enterprise risk management are at the forefront of the April 13 edition of Venable’s Consumer Financial Services Digest.

In this issue, we discuss CFPB Director Cordray’s recent appearance before Congress where he noted that the CFPB has started engaging in supervisory activity regarding small business lending.

Continue Reading Consumer Financial Services Update

Consumfinancial lawer data, UDAAP, debt collection, and fintech licensing are at the forefront of the March 30 edition of Venable’s Consumer Financial Services Digest.

In this issue, we discuss the importance of the Federal Trade Commission’s activities in the consumer finance world and the big changes on the horizon for credit reporting of public records data.

Continue Reading Consumer Financial Services Update

Donald Trump Rubiks CubeSince the election, several questions have emerged about the near future of the consumer financial services federal regulatory landscape. We’ve gathered some of the most common questions below. The FAQs, based on input received from members of our consumer financial services team, are intended to help provide basic information to help place the results into perspective.

Who will President Trump be listening to as he develops his consumer financial services policies?

It is difficult to predict how a Trump administration will proceed specifically with policy issues regarding consumer financial services. While these issues did not play a significant role in the debates or the campaign discussions, we know that the challenges facing the industry have been front and center for Congress.

In the short term, we expect a Trump administration to be influenced by the legislative efforts to date of the House Financial Services Committee (expected to be led by Chairman Jeb Hensarling) and Senate Banking Committee (expected to be led by Senator Mike Crapo).

Continue Reading Post-Election Consumer Financial Services Regulatory Landscape FAQs