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The CFPB Proposal to Remove Medical Debt from Credit Report

The Consumer Financial Protection Bureau (CFPB) is moving forward with a rulemaking proposal to change the process of reporting medical debt on consumer credit reports.  Specifically, the rulemaking proposal the Bureau is considering had two main parts.   First, it prohibits credit reporting companies from including medical debts and collection information on…

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CFPB Enters into Consent Orders with Mortgage Loan Originator and Real Estate Brokerage Firm for Illegal Kickbacks

On August 17, 2023, the Consumer Financial Protection Bureau (CFPB) announced that it had taken action against a residential mortgage loan originator that provided illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals.  The CFPB also penalized a real estate brokerage firm that accepted kickbacks…

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DOJ Reaches Settlement Over Bank's Alleged Redlining

On May 31, 2023, the United States Department of Justice (DOJ), announced that it had entered into a settlement with a Philadelphia based bank and trust company over allegations that the bank had engaged in unlawful redlining in the Philadelphia metropolitan area.  In the Complaint, filed contemporaneously with the consent order in U.S. District Court for the…

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Third Circuit Upholds Dismissal of TILA Claim Based on Failure to Itemize Annual Credit Card Renewal Notice Fees

On Tuesday, April 11, 2023, a three-judge panel of the United States Court of Appeals for the Third Circuit affirmed the dismissal of a putative class action alleging that JP Morgan Chase Bank, N.A. (Chase) failed to itemize annual fees on its credit card renewal notices in violation of the…

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