Alan S. Kaplinsky

Alan S. Kaplinsky

Ballard Spahr LLP

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New Larger Participant Rule Enhances Supervision of Remittance Transfer Rule Requirements

The Consumer Financial Protection Bureau recently finalized a larger participant rule for nonbank international money transfer providers and left it largely unchanged from the rule as originally proposed in January. The new...more

9/17/2014 - CFPB Dodd-Frank EFTA Money Transfer Nonbank Firms Regulation E

Another state AG files lawsuit using Dodd-Frank authority

A lawsuit filed in May 2014 by the Mississippi Attorney General against Experian in Mississippi state court alleging widespread federal and state law violations was removed last week by Experian to a federal district court in...more

6/18/2014 - Dodd-Frank Enforcement Enforcement Actions Experian FCRA UDAAP

Illinois AG wins motion to add Dodd-Frank UDAAP claim to complaint against for-profit college

Earlier this month, an Illinois state court granted the motion of the state’s Attorney General to further amend her complaint in a lawsuit filed against a for-profit college and its owners to add new counts alleging that the...more

5/22/2014 - CFPA Colleges Dodd-Frank UDAAP Universities

CFPB arbitration study to be completed this year

We have previously blogged about the ongoing arbitration study which the CFPB is conducting under Section 1028 of Dodd-Frank. Yesterday, Will Wade-Gery (who is managing the study for the CFPB) spoke at the 19th Annual...more

4/30/2014 - Arbitration CFPB Dodd-Frank

Hearing on New York DFS lawsuit postponed until May 12

We reported last week about the novel lawsuit brought by the New York Department of Financial Services (“DFS”) against a large subprime auto finance company and its president and CEO. The DFS relied on Section 1042 of...more

4/30/2014 - Department of Financial Services Dodd-Frank Enforcement Actions Injunctions UDAAP

CFPB official confirms larger participant rule for auto finance coming soon

Today is the final day of CBA Live 2014, which is being held at the Gaylord Hotel in National Harbor, MD. I spoke at a program yesterday about the CFPB’s ongoing arbitration study under Section 1028 of Dodd-Frank. Based on...more

4/3/2014 - Automotive Industry Automotive Loans CFPB Dodd-Frank

Illinois AG files lawsuit asserting Dodd-Frank UDAAP enforcement authority

In what appears to be the first lawsuit by a state attorney general of its kind, the Illinois AG recently filed a state court lawsuit against a small loan lender alleging violations of the Dodd-Frank prohibition of unfair,...more

3/27/2014 - CFPB Dodd-Frank Enforcement UDAAP

Bankers Win Latest Interchange Battle

The U.S. Court of Appeals for the District of Columbia Circuit recently reversed a lower court decision and upheld the interchange rules adopted by the Federal Reserve Board (FRB) under the so-called Durbin Amendment to the...more

3/27/2014 - Banks Dodd-Frank Durbin Amendment Rules Federal Reserve Interchange Fees

Volcker Rule Agencies Issue Interim Final Rule Exempting TruPS-backed CDOs

Last week, the five agencies that jointly issued the final regulation implementing the Volcker Rule (the Final Rule) in December issued an interim final rule (the Interim Rule) that exempts collateralized debt obligations...more

1/23/2014 - American Bankers Association Collateralized Debt Obligations Dodd-Frank Final Rules Financial Regulatory Reform Trust Preferred Securities Volcker Rule

CA federal court rejects challenge to CFPB’s constitutionality

The California federal district court hearing the CFPB’s enforcement action against Morgan Drexen has rejected Morgan Drexen’s challenge to the CFPB’s constitutionality. Although similar challenges have been made in other...more

1/15/2014 - CFPB Compliance Dodd-Frank Enforcement Enforcement Actions Telemarketing Sales Rule

Volcker Rule Promises To Be Godzilla of Bank Regulation

It took almost 3½ years before it finally hatched. And it was big—very big—enormous, in fact. No, it’s not Godzilla. It’s the Volcker Rule. More than two years after the Notice of Proposed Rulemaking, a final rule...more

12/30/2013 - Bank Holding Company Act Banks Dodd-Frank FDIC Federal Reserve OCC Proprietary Trading SEC Volcker Rule

CFPB Issues Aggressive Rulemaking Agenda

The Consumer Financial Protection Bureau’s recently released fall 2013 rulemaking agenda portends aggressive rulemaking by the Bureau in 2014. With most of the rulemaking mandated by the Dodd-Frank Act now completed,...more

12/6/2013 - CFPB Compliance Dodd-Frank Enforcement Mortgages

CFPB debt collection ANPR demands industry attention

The Advance Notice of Proposed Rulemaking (ANPR) on debt collection issued by the CFPB earlier this week solicits comments on an array of issues relating to the debt collection practices of third-party debt collectors and...more

11/8/2013 - CFPB Creditors Debt Collection Dodd-Frank FDCPA

Prominent industry trade groups nix CFPB’s proposed telephone survey of consumers

As part of its on-going study of consumer arbitration mandated by the Dodd-Frank Act, the CFPB announced on June 7, 2013 that it is seeking funding from the Office of Management and Budget to undertake a telephone survey of...more

8/14/2013 - Arbitration Arbitration Agreements CFPB Credit Cards Dodd-Frank Surveys

Peggy Twohig of CFPB clarifies its expectations about self-reporting violations of law

My colleagues, Chris Willis and Barbara Mishkin, have previously blogged here and here about the CFPB’s recent guidance advising banks and non-banks subject to its jurisdiction to investigate and self-report to the Bureau...more

8/13/2013 - CFPB Compliance Dodd-Frank Self-Reporting UDAAP

Federal Court Declares Debit Card Interchange Fee Rule Provisions Invalid

A Washington, D.C., federal district court has declared that the interchange fee and network non-exclusivity provisions of the Federal Reserve Board’s final debit card interchange fee rule are invalid....more

8/1/2013 - Debit Cards Dodd-Frank Durbin Amendment Rules Federal Reserve Interchange Fees

FTC Enforcement Action against Debt Collector Ends in Record Settlement

The Federal Trade Commission’s recent announcement that it entered into a record settlement with “the world’s largest debt collection operation” demonstrates that it intends to continue its vigorous enforcement of the Fair...more

7/16/2013 - Compliance Debt Collectors Dodd-Frank Enforcement Actions FDCPA FTC Settlement

Are all FDCPA violations by creditors and servicers potential UDAAPs: a difference of opinion

Jeff Sovern has written an interesting blog post about the CFPB’s recent Bulletin 2013-07 that warns creditors and servicers who are not covered by the FDCPA that their collection practices are subject to the CFPB’s authority...more

7/16/2013 - CFPB Creditors Dodd-Frank FDCPA Lenders Mortgage Servicers Mortgages UDAAP

CFPB Targets Debt Collection in New UDAAP Bulletins, Complaint System, Consumer Action Letters

The Consumer Financial Protection Bureau made clear that debt collection continues to be a major focus by issuing two new bulletins and five action letters for consumers to use when responding to debt collectors....more

7/11/2013 - CFPB Compliance Consumer Complaint System Debt Debt Collection Dodd-Frank FDCPA Harassment UDAAP

CFPB ready to supervise nonbanks engaged in conduct deemed risky for consumers

The CFPB has adopted its long-awaited final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risks to consumers. The final rule will be effective 30 days after its publication...more

7/2/2013 - CFPB Dodd-Frank Nonbank Firms Risk Management

CFPB Finalizes Procedures for Supervising Nonbanks Engaged in Risky Conduct

The Consumer Financial Protection Bureau has adopted a final rule setting forth the procedures it will use to supervise nonbanks engaged in conduct that poses risk to consumers....more

7/2/2013 - CFPB Credit Reports Dodd-Frank Final Rules Financial Products Lenders Mortgages Nonbank Firms Wall Street

Supreme Court arbitration decision raises stakes for CFPB arbitration study

Last week, in its decision in American Express Co. v. Italian Colors Restaurants, the U.S. Supreme Court delivered a knock-out punch to the last major court challenge to the use of class action waivers in consumer arbitration...more

6/25/2013 - American Express American Express v Italian Colors Restaurant Arbitration Arbitration Agreements CFPB Class Action Dodd-Frank SCOTUS

OCC Updates Procedures for Internal Appeals of Supervisory Decisions

The Office of the Comptroller of the Currency (OCC) recently updated its guidance on procedures for internal appeals of supervisory decisions at various levels. The subject matter deals solely with internal appeal procedures...more

6/13/2013 - Dodd-Frank Fair Lending FIRREA Internal Appeals OCC Ombudsman Supervisors

TILA Ban on Mandatory Arbitration in Mortgage Loans Takes Effect June 1

The Truth in Lending Act (TILA) ban on mandatory arbitration provisions in certain mortgage loans becomes effective on June 1, 2013. Lenders now using mortgage loan documentation containing such provisions should take steps...more

5/17/2013 - Dodd-Frank Mandatory Arbitration Clauses Mortgages Regulation Z TILA

CFPB proposes delay in effective date of Reg Z prohibition on financing credit insurance premiums

The CFPB has issued a proposal to temporarily delay the June 1, 2013 effective date of the Regulation Z prohibition on financing credit insurance premiums (Section 1026.36(i)). The proposal responds to concerns raised by...more

5/13/2013 - CFPB Dodd-Frank Final Rules Premiums Regulation Z

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