Alan S. Kaplinsky

Alan S. Kaplinsky

Ballard Spahr LLP

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Will the CFPB issue a final arbitration rule before Jan. 20?

Last week, the Wall Street Journal reported that the CFPB is pushing to finalize its arbitration rule before Donald Trump’s inauguration as President on January 20.  The comment period on the proposed rule closed on August...more

11/29/2016 - Arbitration Arbitration Agreements CFPB Class Action Class Action Arbitration Waivers Congressional Review Act Constitutional Challenges Consumer Contracts Consumer Financial Products Final Rules Financial Sector Financial Services Industry Payday Loans PHH Corp. v CFPB SBREFA Service Contracts Title Loans Trump Administration

CFPB asks for rehearing en banc in PHH case

As we expected, the CFPB filed a petition with the D.C. Circuit this past Friday asking it to grant a rehearing en banc of its decision in CFPB v. PHH Corporation.  Under D.C. Circuit rules, PHH may not file a response to the...more

11/21/2016 - CFPB Constitutional Challenges Dodd-Frank En Banc Review PHH Corp. v CFPB Removal For-Cause RESPA Single Director Statutory Interpretation

Receiver for payday lenders sued by CFPB files malpractice lawsuit

The court-appointed receiver for a group of interrelated companies sued by the CFPB in September 2014 for engaging in allegedly unlawful online payday lending activities has filed a malpractice lawsuit against the law firm...more

11/18/2016 - Attorney Malpractice Breach of Duty CFPA CFPB Consumer Financial Products Contract Drafting EFTA Electronic Fund Transfer Act Fiduciary Duty Financial Sector Financial Services Industry Loans Nevis Online Marketplace Lending Payday Loans Truth in Lending Act (TILA) Unfair or Deceptive Trade Practices

FTC Seeks Information on Class Action Claims Rates

The Federal Trade Commission (FTC) has announced that to study the effectiveness of various class action settlement notice programs, it has issued orders to eight claims administrators requiring them to provide information on...more

11/18/2016 - Arbitration CFPB Class Action Financial Sector FTC Notifications Request For Information Settlement

FTC continues vigorous use of enforcement authority

As observers ponder the CFPB’s future in a Trump Administration, the Federal Trade Commission’s continuing role as an enforcer of federal consumer financial protection laws should not be overlooked. Over the approximately...more

11/18/2016 - CFPA CFPB CROA ECOA EFTA Enforcement Actions FCRA FDCPA Financial Sector FTC FTC Act Gramm-Leach-Blilely Act Military Lending Act Section 5 Truth in Lending Act (TILA) Unfair or Deceptive Trade Practices

CFPB post-election changes could increase state enforcement activity

Since last Tuesday’s election, there has been much discussion of how expected changes under a Trump Administration are likely to reduce the CFPB’s impact, particularly in the enforcement arena. Little attention, however, has...more

11/17/2016 - Attorney Generals CFPA CFPB Donald Trump Enforcement Actions Financial Services Industry Presidential Elections Trump Administration

Election results portend significant changes for CFPB

As a result of Donald J. Trump’s election as President, coupled with the Democrats’ failure to wrest control of the House or Senate from the Republicans, the CFPB can be expected to undergo significant changes that are likely...more

11/10/2016 - Administrative Proceedings Arbitration Automotive Loans Banking Sector CFPB Dodd-Frank Donald Trump Fair Lending Payday Loans PHH Corp. v CFPB Popular Presidential Nominations Removal For-Cause Richard Cordray Single Director

Dept. of Ed. Bans Pre-Dispute Arbitration Agreements by Title IV Schools

The U.S. Department of Education has issued a final rule that broadly addresses the ability of a student to assert a school's misconduct as a defense to repayment of a federal student loan. The final rule includes a ban on...more

11/4/2016 - Arbitration Agreements Borrowers CFPB Consumer Financial Products Department of Education Educational Institutions Federal Arbitration Act Federal Student Loans Higher Education Act Loans Misrepresentation Program Participation Agreements (PPAs) Title IV

Hensarling seeks assurance of CFPB compliance with limits on executive agencies

Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee, has sent a letter to Director Cordray asking him to provide written assurance by October 26, 2016 that, as a result of the D.C....more

10/21/2016 - Administrative Proceedings Article II Banking Sector CFPB Constitutional Challenges Dodd-Frank Financial Services Committee OIRA PHH Corp. v CFPB Removal For-Cause Richard Cordray Single Director Statutory Interpretation

CFPB Deputy Enforcement Director mum on whether CFPB will seek further review of PHH decision

During the “Developments at the CFPB” panel this morning at the Pennsylvania Bar Institute Consumer Financial Services & Banking Law Update program in Philadelphia, Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director,...more

10/19/2016 - Administrative Proceedings Article II Banking Sector CFPB Constitutional Challenges Dodd-Frank Due Process HUD Insurance Industry Kickbacks Mortgage Insurance Mortgages PHH Corp. v CFPB Referral Fees Reinsurance Removal For-Cause RESPA Single Director Statute of Limitations Statutory Interpretation

What the D.C. Circuit’s PHH decision means for CFPB rulemaking

In its decision last week in PHH Corporation v. CFPB, the D.C. Circuit ruled that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional. While the D.C. Circuit (in footnote 19) noted that it “need...more

10/18/2016 - Administrative Proceedings Article II Banking Sector CFPB Constitutional Challenges Dodd-Frank Due Process HUD Insurance Industry Kickbacks Mortgage Insurance Mortgages PHH Corp. v CFPB Referral Fees Reinsurance Removal For-Cause RESPA Rulemaking Process Single Director Statute of Limitations Statutory Interpretation

SBA Office of Advocacy submits comment letter asking CFPB to reconsider payday loan proposal

The Small Business Administration’s Office of Advocacy has submitted a comment letter on the CFPB’s proposed payday loan rule that raises concerns about the proposal’s economic impact on small businesses and encourages the...more

10/17/2016 - Ability-to-Repay Banking Sector CFPB Consumer Financial Products Consumer Lenders Native American Issues Online Marketplace Lending Payday Loans Regulatory Flexibility Act Roundtable SBA SBREFA Small Business Small Entity Representatives (SERs) Tribal Loans

D.C. Circuit Holds CFPB Structure Unconstitutional, Interpretation of RESPA Not Entitled to Deference

The D.C. Circuit yesterday issued its long-awaited decision in PHH Corporation v. CFPB. In reversing the decision of Consumer Financial Protection Bureau (CFPB) Director Cordray to impose an enhanced penalty of $109 million...more

10/13/2016 - Administrative Proceedings Article II Banking Sector CFPB Constitutional Challenges Dodd-Frank Due Process HUD Insurance Industry Kickbacks Mortgage Insurance Mortgages PHH Corp. v CFPB Referral Fees Reinsurance Removal For-Cause RESPA Single Director Statute of Limitations Statutory Interpretation

California Enacts New Licensing Requirements for Student Loan Servicers

Student loan servicers located in California servicing loans made to residents of any state and those located elsewhere servicing loans made to California residents will be subject to a new licensing requirement created by...more

10/10/2016 - Borrowers CFPB Consumer Financial Products Consumer Lenders Financial Services Industry Licensing Rules Student Loans Students

CFPB Finalizes Sweeping Expansion of Prepaid Account Regulations

The Consumer Financial Protection Bureau (CFPB) has issued its long-anticipated final rule for general purpose prepaid accounts. As expected, the new regulations expand the products covered by Regulation E, introduce...more

10/7/2016 - CFPB Consumer Financial Products Final Rules Financial Sector Financial Services Industry Overdraft Fees p2p Prepaid Payment Products Regulation E Regulation Z

To (Dis)Close for Comfort–FTC Workshop Seeks Effective Consumer Disclosures

A goal of providing effective disclosures to consumers is to allow consumers to make informed decisions. But what must be done to make disclosures effective? This was the question the Federal Trade Commission (FTC) explored...more

9/27/2016 - Advertising Banking Sector CFPB Consumer Financial Products Disclosure Requirements Financial Institutions FTC Mobile Apps Mobile Devices Native Advertising Popular Social Media Social Networks Tracking Systems Video Games Warner Brothers Entertainment

Bi-partisan Congressmen seek arbitration safe harbor allowing class action waivers

Republican Congressman Randy Neugebauer, who chairs the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit, and Democratic Congressman W. Lacy Clay, the Subcommittee’s Ranking...more

9/16/2016 - Arbitration Arbitration Agreements CFPB Class Action Class Action Arbitration Waivers Consumer Contracts Consumer Financial Products Dodd-Frank Financial Sector Financial Services Industry Legislative Committees Safe Harbors Service Contracts

Trade groups comment on CFPB arbitration proposal

The American Bankers Association, the Consumer Bankers Association and The Financial Services Roundtable (Associations) have filed a joint letter commenting on the CFPB’s proposed rule regulating consumer arbitration...more

8/23/2016 - Arbitration Arbitration Agreements CFPB Class Action Class Action Arbitration Waivers Consumer Contracts Consumer Financial Products Dodd-Frank Financial Sector Financial Services Industry Mandatory Arbitration Clauses Service Contracts

Pew’s issue brief in support of the CFPB’s proposed arbitration rule: a flawed presentation

The Pew Charitable Trusts has released an issue brief, “Consumers Want the Right to Resolve Bank Disputes in Court,” in which it urges the CFPB to “expeditiously finalize” its proposed arbitration rule. The CFPB’s proposal...more

8/19/2016 - Arbitration Arbitration Agreements Banking Sector Banks CFPB Class Action Class Action Arbitration Waivers Consumer Contracts Consumer Financial Products Consumer Lenders Dodd-Frank Financial Services Industry Pew Foundation

Democratic lawmakers urge adoption of CFPB arbitration proposal

A total of 102 Democratic lawmakers, consisting of 37 Democratic Senators joined by Independent Senator Bernie Sanders and 65 House members, have signed on to letters sent to Director Cordray expressing support for the CFPB’s...more

8/5/2016 - Arbitration Arbitration Agreements CFPB Class Action Class Action Arbitration Waivers Comment Period Consumer Contracts Consumer Financial Products Dodd-Frank Financial Sector Financial Services Industry Service Contracts

Third Circuit Remands "Meaningful Attorney Involvement" Decision

The U.S. Court of Appeals for the Third Circuit has vacated the district court's decision in Bock v. Pressler & Pressler, LLP in which the district court ruled that a debt collection law firm violated the Fair Debt Collection...more

8/5/2016 - Appeals Article III CFPB Debt Collection Debt Collectors FDCPA Financial Services Industry Injury-in-Fact Spokeo v Robins Standing Statutory Damages

CFPB Previews Debt Collection Rule in SBREFA Outline

The Consumer Financial Protection Bureau (CFPB) has moved a step closer to issuing a debt collection rule by releasing an outline of the proposals it is considering in preparation for convening a small business review panel....more

8/1/2016 - CFPB Debt Buyers Debt Collection Debt Collectors Dodd-Frank FDCPA Financial Sector SBREFA Small Business Third-Party Service Provider Time-Barred Debt

CFPB and DOJ Settle Fair Lending Claims Involving Allegations of Redlining, Discretionary Underwriting and Pricing, and Overt...

The Consumer Financial Protection Bureau (CFPB) and U.S. Department of Justice (DOJ) recently announced a proposed consent order with BancorpSouth Bank to settle charges that the bank’s mortgage lending practices violated the...more

7/11/2016 - Banking Sector CFPB Consent Order Consumer Financial Products Discriminatory Lending Practices DOJ ECOA Fair Housing Act (FHA) Financial Institutions Mortgages Popular Race Discrimination Redlining

Ban Proposed on Mandatory Pre-Dispute Arbitration Agreements by Schools Receiving Title IV Aid for Student Borrowers

The U.S. Department of Education has issued a proposed rule that includes a ban on mandatory pre-dispute arbitration agreements by schools receiving Title IV assistance under the Higher Education Act (HEA) and a new federal...more

6/20/2016 - Arbitration Arbitration Agreements CFPB Class Action Class Action Arbitration Waivers Department of Education Federal Arbitration Act Higher Education Act Student Loans Title IV

Seventh Circuit Refuses To Impose a Heightened Litigation Standard on Debt Collector

In St. John v. Cach, LLC, the U.S. Court of Appeals for the Seventh Circuit recently issued an opinion holding that the Fair Debt Collection Practices Act (FDCPA) does not prohibit debt collectors from filing collection...more

6/6/2016 - CFPB Consumer Lenders Corporate Counsel Debt Collection Debt Collectors FDCPA Litigation Strategies

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