Consumer Financial Services Compliance

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  • Credit Reporting and COVID: What did the CARES Act change?

    Under the CARES Act, borrowers must be affected by COVID-19 and receive an “accommodation” for their creditors to be subject to new FCRA reporting obligations. However, the CARES Act does not explain how the consumer needs to have been affected, nor is it expressly limited to accommodations provided because of the impact of COVID-19. Therefore,More

  • What’s luring fintechs into auto lending?

    Member Robert Savoie (Cleveland) was quoted in “What’s luring fintechs into auto lending?” in Auto Finance News (subscription required). The article outlines various benefits that the auto finance industry offers to fintech companies, including minimal regulatory hurdles and the opportunity to diversify credit offerings. Some of Robert’s quotes include: “When [fintechs] look to pivot intoMore

  • CFPB Statement Clarifies Credit Reporting and CARES Act

    Responding to criticism and questions that have arisen largely from furnishers trying to navigate credit reporting under the CARES Act, the CFPB issued FAQs, clarifying that it expects all furnishers to make good faith efforts to investigate disputes quickly and within the statutory time frame.

  • South Dakota Adds Mortgage Branch Registration Requirement

    On July 1, the South Dakota Division of Banking posted a Mortgage Branch Registration requirement to the Nationwide Multistate Licensing System.

  • McGlinchey Launches Podcast That Brings You “More”

    McGlinchey Stafford is pleased to announce the launch of its podcast, “More With McGlinchey,” available now where you listen to podcasts. “We know our clients look to us to cut through the noise in distilling the issues that matter to them,” said Rudy Aguilar, McGlinchey’s Managing Member. “We’re committed to providing information where our audienceMore

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