United States: Consumer Credit

At a time when consumer financial regulation is both rapidly evolving and deeply contested, the launch of the Institute for Consumer Financial Choice (ICFC) represents a significant and timely development.

On April 22, the CFPB issued a final rule revising Regulation B under the Equal Credit Opportunity Act (ECOA). The rule eliminates disparate impact liability from the Bureau’s ECOA enforcement framework...

A Michigan federal court has granted final approval of a class action settlement against a creditor law firm and affiliated debt buyers over allegedly excessive post-judgment interest charges in debt collection proceedings. The case centered on whether a 13% interest rate—Michigan's maximum for judgments on written instruments—was improperly applied to judgments that did not involve written instruments. Eligible class members whose judgment balances were reduced to zero will receive $150 monetar

A bipartisan coalition of thirteen state AGs filed a complaint in the Southern District of New York against one of the nation's largest non-bank installment lenders, alleging a scheme...

March 19 – Read the newsletter below for the latest Mortgage Banking and Consumer Finance industry news, written by Ballard Spahr attorneys. In this issue, our lawyers discuss the SHIELD...

We are releasing today on our Consumer Finance Monitor podcast our host Alan Kaplinsky's discussion with Marisa Calderon, President and CEO of Prosperity Now...

The plaintiff alleged that the institution imposed a 5 dollar fee each time consumers made monthly payments by phone or other electronic means, even though neither the loan agreement nor any statute authorized the charge.

On October 27, 2025, amendments to Delaware's Medical Debt Protection Act took effect, establishing a total ban on the inclusion of medical debt in consumer credit reports

On October 28, the CFPB issued an interpretive rule under the Fair Credit Reporting Act (FCRA) declaring that federal law generally preempts state laws governing the content of consumer credit reports.