The Consumer Financial Protection Bureau’s Evolving View of “Credit”: Implications for Market Participants

8 minute read | June.07.2024

The Consumer Financial Protection Bureau is taking a more expansive view of what kind of transactions involve an extension of credit.

It’s often obvious whether a transaction involves credit, but the CFPB has taken enforcement actions recently that sweep in products and services previously understood to fall outside of the regulatory umbrella.

In a new article in Law360, Orrick’s John Coleman explores how the CFPB’s evolving view of credit affects income share agreements, merchant cash advances, overdraft services at large banks and property assessed clean energy financing.