Alan S. Kaplinsky

Alan S. Kaplinsky

Ballard Spahr LLP

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Director Cordray responds to questions on proposed arbitration rule

Director Cordray has sent a letter to Senator Jeff Flake responding to a series of questions posed by the Senator on the CFPB’s proposed arbitration rule. The comment period on the proposed rule closed on August 22, 2016. ...more

2/10/2017 - Arbitration Arbitration Agreements Attorney's Fees CFPB Class Action Class Action Arbitration Waivers Congressional Review Act Consumer Contracts Court Nullification Dodd-Frank Federal Arbitration Act Richard Cordray

Some thoughts on President Trump’s authority to replace Director Cordray

There has been some debate about President Trump’s authority to designate a replacement for Director Cordray should he resign or be removed by the President. The Dodd-Frank Act authorizes the CFPB Director to appoint a...more

2/3/2017 - Administrative Appointments Banking Sector CFPB Dodd-Frank Federal Vacancies Reform Act PHH Corp. v CFPB Recess Appointments Removal For-Cause Richard Cordray Single Director Statutory Interpretation Trump Administration

Director Cordray’s Wall Street Journal interview today

Here are the highlights from Richard Cordray’s interview earlier today with the Wall Street Journal. He refused to respond to the question of whether or not the memo issued on January 20 on behalf of President Trump by...more

1/24/2017 - Banking Sector CFPB Constitutional Challenges Data Collection Dodd-Frank Enforcement Actions Loans Recess Appointments Removal For-Cause Richard Cordray Rulemaking Process Small Business Trump Administration

Trump Administration issues regulatory freeze; application to CFPB uncertain

On Inauguration Day, Reince Priebus, Assistant to the President and Chief of Staff, issued a “Memorandum for the Heads of Executive Departments and Agencies” with the subject line “Regulatory Freeze Pending Review” that...more

1/23/2017 - Appeals CFPB Constitutional Challenges Dodd-Frank Federal Register Financial Sector PHH Corp. v CFPB Regulatory Oversight Removal For-Cause Richard Cordray Single Director 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 Fair Lending Payday Loans PHH Corp. v CFPB Popular Presidential Nominations Removal For-Cause Richard Cordray Single Director Trump Administration

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

Chamber of Commerce suggests issues for CFPB to address at May 5 arbitration field hearing

The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness has sent a letter to Director Cordray suggesting a series of issues for Mr. Cordray to address in his prepared remarks at the CFPB’s field hearing on...more

5/3/2016 - American Arbitration Association Arbitration Capital Markets CFPB Class Action Class Action Arbitration Waivers Financial Services Industry Richard Cordray SBREFA Service Contracts

Director Cordray signals no change in direction regarding arbitration

At a presentation on February 18, 2016 to the American Constitution Society, CFPB Director Richard Cordray devoted most of his remarks to the subject of consumer arbitration. Director Cordray revealed that the effect on...more

2/22/2016 - Arbitration CFPB Class Action Arbitration Waivers Consumer Financial Products Financial Services Industry Richard Cordray

Meredith Fuchs named today as Acting Deputy Director of the CFPB

Meredith Fuchs, the General Counsel of the CFPB, has been named today by Director Cordray to be the Acting Deputy Director of the CFPB effective August 1, 2015. The CFPB previously announced that the existing Deputy Director...more

7/23/2015 - Administrative Appointments CFPB Richard Cordray

Filibuster rule change: an explanation for Director Cordray’s confirmation?

Numerous media sources have reported that Senate Democrats “went nuclear” today and, by a vote of 52-48, voted to change Senate filibuster rules to only require 51 (a simple majority) rather than 60 votes for most...more

11/22/2013 - Confirmation Proceedings Filibuster Richard Cordray

CFPB responds to letter from Senators raising concerns about auto fair lending guidance

The CFPB has responded to the October 30 letter it received from a bipartisan group of 22 U.S. Senators raising concerns about the fair lending auto finance bulletin issued by the CFPB this past March. The Senators’ letter...more

11/5/2013 - Automotive Loans CFPB Fair Lending Federal Reserve FTC Richard Cordray

CFPB plans to continue targeting of individuals in enforcement actions

In a speech last week to the Reuters Washington Summit, Director Cordray is reported to have indicated that the CFPB is committed to pursuing individuals, and not just companies, when exercising its enforcement authority. Mr....more

10/29/2013 - CFPB Compliance Enforcement Actions Richard Cordray

New book chronicles creation of CFPB

Since today is the “day after” Richard Cordray’s confirmation as CFPB Director, it is perhaps fitting for me to be writing about a book that provides some history of the CFPB....more

7/17/2013 - Books CFPB Harry Reid Recess Appointments Richard Cordray

Senate appears poised to confirm Richard Cordray as Director of the CFPB

I heard from many media sources that a “deal” has been struck in the Senate which will result in Richard Cordray being confirmed by the Senate as Director of the CFPB for a 5-year term....more

7/16/2013 - CFPB Filibuster Harry Reid Political Appointments Recess Appointments Richard Cordray

Senate votes in favor of cloture for confirmation of Richard Cordray as Director of the CFPB

The Senate voted 71-29 in favor of cloture. That means that the Republicans will not use the threat of the filibuster to block a confirmation vote in the Senate of Richard Cordray’s nomination by President Obama to be...more

7/16/2013 - Barack Obama CFPB Filibuster Nominations Political Appointments Recess Appointments Richard Cordray

Supreme Court agrees to take on recess appointment controversy

On June 24, 2013, the U.S. Supreme Court agreed to review the D.C. Circuit’s decision in Noel Canning v. NLRB invalidating President Obama’s January 4, 2012 appointment of three NLRB members....more

6/25/2013 - Canning v NLRB Certiorari CFPB NLRB Recess Appointments Richard Cordray SCOTUS

CFPB payday and deposit advance loans white paper draws industry fire

The CFPB’s white paper on payday and deposit advance loans received well-deserved criticism in a letter to Director Cordray from the Community Financial Services Association of America (CFSA), a national trade organization...more

5/7/2013 - CFPB Deposit Advances Payday Loans Richard Cordray

No fireworks at Cordray nomination hearing

Not only did the Senate Banking Committee hearing this morning on Richard Cordray’s nomination to be CFPB Director produce no fireworks, there were moments when Committee members seemed to forget he was in the hearing room....more

3/13/2013 - CFPB Nominations Richard Cordray

Director Cordray targets payday and student lenders in remarks to Consumer Advisory Board

Director Cordray’s prepared remarks for yesterday’s meeting of the CFPB Consumer Advisory Board contained some particularly ominous signs for student and payday lenders. ...more

2/21/2013 - Borrowers CFPB Creditors Loan Servicer Loan Servicing Mortgage Loan Servicing Standards Richard Cordray Student Loans

Chamber of Commerce suggests improvements for CFPB exams and investigations

In a letter sent last week to Director Cordray, the Chamber of Commerce’s Center for Capital Markets Competitiveness suggested several steps “based upon the actual experiences of numerous individual businesses” for the CFPB...more

2/19/2013 - Capital Markets CFPB Chamber of Commerce Enforcement Attorneys Investigations Richard Cordray

The political posturing continues….

President Obama’s renomination of Richard Cordray to serve as CFPB Director is now official. On February 13, the White House announced that his nomination was sent to the Senate....more

2/15/2013 - Barack Obama CFPB Nominations Richard Cordray

Update on CA case challenging Mr. Cordray’s appointment

We have been following the case filed this past summer by the CFPB in a California federal court against an attorney and his law firm that offered mortgage assistance relief services to consumers. In CFPB v. Chance Edward...more

2/15/2013 - Affirmative Defenses Canning v NLRB CFPB Court-Appointed Receivers Preliminary Injunctions Recess Appointments Richard Cordray Summary Judgment

No takers for CFPB Deputy Director

It is not surprising to me that Director (yes, he is still the Director until a court rules otherwise) Cordray has had difficulty finding a Deputy Director to fill Raj Date’s position....more

2/4/2013 - Canning v NLRB CFPB Political Appointments Pro Forma Sessions Recess Appointments Richard Cordray

The Senate Republicans officially weigh in on Cordray’s nomination

Whatever hope President Obama may have had that his nomination of Richard Cordray to serve a five-year term as Director of the CFPB vanished today when 43 Republican Senators joined in a letter to the President saying that...more

2/4/2013 - Barack Obama Canning v NLRB CFPB Dodd-Frank Richard Cordray

New CFPB Deputy Director about to be appointed

The word on the street is that tomorrow Richard Cordray will appoint a new Deputy Director to replace Raj Date who has been serving in that capacity since Jan. 6 of 2012....more

1/30/2013 - Administrative Appointments Barack Obama Canning v NLRB CFPB NLRB Pro Forma Sessions Recess Appointments Richard Cordray

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