Connor H. Crews

Venable LLP

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CFPB issues statement on Military Lending Act final rule

USA - July 27 2015 On July 21, 2015, the U.S. Department of Defense (DoD) issued a final rule that expanded the types of credit products covered by the 36% rate cap and…

R. Andrew Arculin, Laura Arredondo-Santisteban, Allyson B. Baker, Samuel D. Boro, Peter S. Frechette

CFPB continues credit card add-on products enforcement with $700 million penalty

USA - July 27 2015 On July 21, 2015, the CFPB ordered Citibank to provide relief to eligible consumers to the tune of roughly $700 million. Citibank's illegal actions…

R. Andrew Arculin, Laura Arredondo-Santisteban, Allyson B. Baker, Samuel D. Boro, Peter S. Frechette

CFPB enforcement action on credit card debt sales and collections

USA - July 27 2015 On July 7, 2015, the CFPB and attorneys general from 47 states and the District of Columbia (in coordination with the Office of the Comptroller of…

R. Andrew Arculin, Laura Arredondo-Santisteban, Allyson B. Baker, Samuel D. Boro, Peter S. Frechette

CFPB semi-annual update to Congress: Director Cordray indicates that the Bureau will move forward with an arbitration rule, defends regulation of auto lenders, and reiterates no grace period on TRID

USA - July 27 2015 On July 15, 2015, Consumer Financial Protection Bureau (CFPB or the Bureau) Director David Cordray testified before the Senate Banking Committee on a…

R. Andrew Arculin, Laura Arredondo-Santisteban, Allyson B. Baker, Samuel D. Boro, Peter S. Frechette

CFPB begins publishing consumer complaint narratives

USA - July 27 2015 On June 25, 2015, the CFPB published its enhanced consumer complaint database, which includes over 7,700 consumer narratives. These narratives…

R. Andrew Arculin, Laura Arredondo-Santisteban, Allyson B. Baker, Samuel D. Boro, Peter S. Frechette