CFPB Monitor
MARCH 8, 2022
Following the lead of California, Colorado, and Virginia, Utah is set to become the fourth state to pass a comprehensive privacy law. As of March 4, the Utah Consumer Privacy Act ( SB 227 ) cleared both houses of the Utah legislature. If signed, the law will go into effect December 31, 2023.
CFPB Monitor
SEPTEMBER 10, 2020
Thereafter, “using its existing lending operations and personnel, LoanMart commenced ‘marketing’ and ‘servicing’ auto title loans purportedly made by CCBank, a small Utah-chartered bank operating out of Provo, Utah.” Thus, both the OCC and FDIC have adopted regulations rejecting the Second Circuit’s Madden decision.
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CFPB Monitor
AUGUST 14, 2018
We agree with Acting Director Mulvaney that the CFPB lacks statutory authority to examine creditors for MLA compliance. Although supervisory examinations for MLA compliance are expected to come to a halt, the Times reports that the CFPB will continue to pursue cases against creditors for violations of the 36 percent interest rate cap.
American Banker
JANUARY 4, 2024
One of the smallest banks in the country hasn't consistently made a profit since 2007 and has been the subject of enforcement actions. The FDIC's public rebuke against it indicates a last-ditch effort to figure out a less messy solution than receivership.
CFPB Monitor
FEBRUARY 16, 2022
Around the nation, regulators are preparing to implement and enforce new consumer-like disclosure laws for small business commercial finance providers. New York regulators have yet to issue final regulations implementing the state’s Commercial Finance Disclosure Law (CFDL), which went into effect on January 1, 2022.
CFPB Monitor
JUNE 11, 2019
Utah Governor Gary Herbert signed H.B. The sponsor of Utah’s legislation, Rep. ” Utah’s regulatory sandbox, which is effective as of May 13, is similar in many respects to Arizona’s sandbox, which began accepting applications in August 2018 and now has six participants. 378 , Regulatory Sandbox, into law on March 25, 2019.
CFPB Monitor
MAY 4, 2022
The CTDPA follows the form and content of other privacy laws passed in the prior year, including the Colorado Privacy Act (CPA), Virginia Consumer Data Protection Act (VCDPA), and Utah Privacy Act (UPA). California, of course, passed the California Consumer Privacy Rights Act (CPRA) via ballot initiative in 2020. Biometrics. Conclusion.
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