On July 17, Acting Comptroller of the Currency Michael Hsu delivered prepared remarks before the Exchequer Club entitled “Size, Complexity, and Polarization in Banking.”...more
7/22/2024
/ Bank of America ,
Banks ,
Cantero v Bank of America NA ,
Chevron Deference ,
Comptroller ,
Discriminatory Lending Practices ,
Dodd-Frank ,
ECOA ,
Electronic Fund Transfer Act ,
FDCPA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
National Bank Act ,
OCC ,
Preemption ,
SCOTUS
The CFPB has issued an interpretive rule addressing the application of the Electronic Fund Transfer Act/Regulation E compulsory use prohibition to COVID-19 relief payments made by federal, state, or local government agencies....more
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 ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Drafting ,
EFTA ,
Electronic Fund Transfer Act ,
Fiduciary Duty ,
Financial Institutions ,
Financial Services Industry ,
Loans ,
Nevis ,
Online Marketplace Lending ,
Payday Loans ,
Truth in Lending Act (TILA) ,
Unfair or Deceptive Trade Practices
Just two months before the U.S. Supreme Court hears argument in Campbell-Ewald Co. v. Gomez, two federal circuit court panels have ruled on jurisdictional issues presented in the case. Both the Seventh Circuit in Chapman v....more
8/19/2015
/ Article III ,
Campbell Ewald v Gomez ,
EFTA ,
Electronic Fund Transfer Act ,
FRCP 23 ,
Genesis HealthCare ,
Genesis Healthcare Corp. v. Symczyk ,
Jurisdiction ,
Rule 68 ,
SCOTUS ,
TCPA
The Federal Trade Commission (FTC) recently brought its first enforcement action under the Restore Online Shoppers’ Confidence Act (ROSCA) against multiple defendants that the FTC alleges engaged in a common enterprise to...more
A recent decision by the U.S. Court of Appeals for the Ninth Circuit in a bankruptcy case highlights a risk to consumer lenders and suggests a practical approach to risk management through clear policies and employee...more
A California federal court recently ruled that a lender violated the Electronic Fund Transfer Act (EFTA) prohibition on “condition[ing] the extension of credit” on a borrower’s repayment “by means of preauthorized electronic...more
The U.S. Court of Appeals for the Eighth Circuit recently addressed an important issue that the U.S. Supreme Court avoided last year concerning whether a consumer must suffer actual economic harm to have standing to sue for...more