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Financial Services Law Insights and Observations

CFPB Issues Semi-Annual Report to Congress

Consumer Finance Federal Issues Agency Rule-Making & Guidance Enforcement Congress

Consumer Finance

On June 26, the CFPB issued its eleventh semi-annual report to Congress, covering the period October 1, 2016 through March 31, 2017. The report highlights various supervisory and enforcement actions, regulations, and other guidance. The report focuses on Regulations E and Z, which “create a comprehensive set of consumer protections for prepaid products.” In addition, the report notes ongoing efforts to develop rules with respect to payday loans, auto title loans, installment loans, arbitration agreements, and overdraft programs.