Credit Governance

June 11, 2026 by Keith Barnett in Compliance

President Trump Issues Executive Order 14406 to Restore Integrity to America’s Financial System

On May 19, President Donald Trump issued Executive Order 14406, “Restoring Integrity to America’s Financial System,” which establishes a new policy to safeguard financial institutions against structural credit risks and...

May 27, 2026 by Orrick, Herrington & Sutcliffe LLP in Collections Strategy

District Court Rules Furnisher’s Investigation Unreasonable in FCRA Case

In a recent decision, the U.S. District Court for the District of Kansas granted the plaintiff married couple’s motion for partial summary judgment, finding that a debt collector violated the FCRA by...

September 18, 2024 by Brooke Conkle in CFPB

CFPB Report Foreshadows Increased Scrutiny of Negative Equity in Auto Lending

In June, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report on the state of negative equity in auto lending. The CFPB says it found that financing negative...

August 28, 2024 by Keith Barnett in CFPB

CFPB Says Earned Wage Access Products Are Subject to the Truth in Lending Act

Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a proposed interpretive rule opining that earned wage access (EWA) products — whether provided through employer partnerships or marketed directly...

March 21, 2023 by Joann Needleman, Kevin Dooley Kent in Credit Governance

In the Wake of the Demise of Silicon Valley Bank and Signature Bank: What Fintechs, Private Equity, and Banks Need to Know

On Friday, March 10, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank (SVB), the subsidiary of SVB Financial. The Federal Deposit Insurance Corporation (FDIC) was...

January 18, 2023 by Joann Needleman in Credit Governance

[Podcast] Credit Eco To Go: Can We Achieve Consistency to the Complex?

For fintech lenders, debt sale is the obvious way to handle collections & recovery. It’s quicker than the other options and, if you partner with a good debt buyer, it’s...

August 11, 2022 by Erin Kerr in CFPB

The CFPB's New Credit Furnishing Standard Is a "Moving Target"

Creditors and lenders don’t have to report data to the credit bureaus, but consumers have a strong incentive to remedy past-due or charged off accounts that affect their credit scores,...

July 28, 2022 by Erin Kerr in CFPB

3 Lessons from The CFPB’s $19M Enforcement Action against Hyundai

The CFPB recently ordered Hyundai Capital America (Hyundai) to pay $19 million for widespread credit reporting failures, their largest FCRA case against an auto servicer. Hyundai is one of the...

May 23, 2022 by Erin Kerr in Compliance

The Pros & Cons of Selling Debt - 4 Key Questions

If a downturn hits and delinquencies and charge-offs rise as expected, lenders will have to take a hard look at their past-due accounts and consider their loss mitigation options carefully....

May 19, 2022 by Erin Kerr in CFPB

Fintechs: It’s Time to Focus on Recoveries. Here’s How.

When the downturn arrives, lenders must be willing to change their approach dramatically. It is a familiar shift for more established financial institutions, but for fintechs, it's all new. Instead...