Charles Washburn, Jr.

Charles Washburn, Jr.

Manatt, Phelps & Phillips, LLP

Contact  |  View Bio  |  RSS

Latest Publications

Share:

California DBO Reports on Jump in Nonbank Installment Consumer Lending

According to a new report from the California Department of Business Oversight (DBO), installment consumer lending by nonbanks grew almost 50 percent in 2015, with the majority of loans between $2,500 and $5,000 featuring an...more

8/26/2016 - Consumer Lenders Department of Business Oversight Installment Agreements Interest Rates Mortgages Nonbank Firms

Overdraft Service Program Costs Bank $10M in CFPB Fine

Overdraft services practices were the basis for a $10 million fine from the Bureau of Consumer Financial Protection (CFPB) in a recent action against a national bank operating primarily in the northeast....more

8/25/2016 - ATMs Banks CFPB Debit Cards Dodd-Frank EFTA Enforcement Actions Fines Opt-In Overdraft Fees Regulation E Telemarketing Third-Party Service Provider Unfair or Deceptive Trade Practices

Justices Receive Another Petition on Surcharge Laws

Could the U.S. Supreme Court take up the issue of state surcharge laws? The plaintiffs challenging the Texas law banning surcharges on credit card purchases certainly hope so, having filed a certiorari petition in Rowell v....more

7/19/2016 - Appeals Credit Card Surcharges Credit Cards First Amendment Free Speech Merchants Petition for Writ of Certiorari Product Pricing Split of Authority

CFPB Releases Proposed Regulation of Payday Loans

In a long anticipated move, the Consumer Financial Protection Bureau (CFPB) proposed a rule to regulate so-called "debt traps" by requiring lenders to take additional steps to ensure consumers have the ability to repay...more

6/24/2016 - Ability-to-Repay CFPB NCUA Payday Loans Proposed Regulation Small Lenders Title Loans

CFPB Report Crashes Into Auto Title Loans

Analogizing to payday loans, a new report from the Consumer Financial Protection Bureau (CFPB) said research revealed that auto title loans reflect high rates of reborrowing that can lead to long-term "debt traps" where a...more

6/24/2016 - Automotive Loans CFPB Payday Loans Title Loans

NY's DFS Reaches $3M Deal Involving Payday Lending Debts

Continuing its efforts against payday lenders, New York's Department of Financial Services (DFS) announced a consent decree with National Credit Adjustors (NCA) and Webcollex totaling $3 million....more

6/23/2016 - Consent Order Debt Buyers Debt Collection Department of Financial Services FDCPA Injunctive Relief NYDFS Payday Loans Penalties Restitution Usury

Latest Blow To Payday Lenders: Google Ban

Joining the ranks of guns, drugs, and illegal activities, payday loan advertisements are no longer allowed on Google. What happened - "When reviewing our policies, research has shown that these loans can result in...more

6/2/2016 - CFPB Consumer Financial Products Google Interest Rates Online Advertisements Payday Loans

RushCard Settles Service Disruption Suit for $20.5M

RushCard will pay a total of $20.5 million to settle a lawsuit over an incident that resulted in thousands of consumers being shut out of their prepaid card accounts last October....more

6/2/2016 - CFPB Class Action Damages Late Fees Payment Processors Prepaid Payment Products Reimbursements Settlement Transaction Fees

New Guidance From FFIEC on Mobile Financial Services

Examiners will be paying more attention to mobile financial services (MFS) using new guidance recently issued by the Federal Financial Institutions Examination Council (FFIEC)....more

5/27/2016 - Data Security FDIC FFIEC Financial Institutions Financial Services Industry Handbooks Mobile Apps Mobile Payments Mobile Services New Guidance Payment Systems Risk Management

CFPB Takes Action Against Individuals Operating Lead Aggregator

In new lawsuits seeking to hold the individuals behind a company that allegedly violated the Consumer Financial Protection Act of 2010 liable, the Consumer Financial Protection Bureau (CFPB) took action against the cofounders...more

5/18/2016 - CFPB Consumer Financial Products Consumer Lenders Personally Identifiable Information

Treasury Issues White Paper on Marketplace Lending

On May 10, 2016, the U.S. Department of the Treasury released its highly anticipated white paper on online marketplace lending. Treasury's recommendations will likely be influential in U.S. regulation of this marketplace for...more

5/13/2016 - Online Marketplace Lending Request For Information U.S. Treasury

Is the CFPB Constitutional?

Is the Consumer Financial Protection Bureau (CFPB) constitutional? A panel of the D.C. Circuit Court of Appeals is currently considering the issue after hearing oral argument in PHH Corporation v. CFPB....more

5/5/2016 - Administrative Appeals Appeals CFPB Enforcement Actions Kickbacks Mortgage Lenders Oral Argument RESPA Separation of Powers

CFPB Gives Debt Relief Company Targeting Students a Failing Grade

Continuing its focus on the student loan industry, the Consumer Financial Protection Bureau (CFPB) ordered a debt relief company to shut down operations and pay a penalty for allegedly scamming borrowers and misrepresenting...more

4/26/2016 - CFPB Consent Order DOE Scams Student Loans

Drive to Regulate Auto Lenders Continues With $7.4M Deal

The latest regulator to take on an auto lender: Massachusetts Attorney General Maura Healey reached a $7.4 million deal with American Credit Acceptance LLC (ACA) and Westlake Services LLC over allegations of excessive...more

4/22/2016 - Attorney Generals Auto Lease Automotive Industry Automotive Loans Enforcement Actions Excessive Fees Interest Rates

FINRA Reports on Robo-Advisors

What is the appropriate level of regulatory oversight for a robo-advisor? As federal agencies struggle with the question, the Financial Industry Regulatory Authority (FINRA) published a new report reminding companies offering...more

4/8/2016 - Digital Services Financial Services Industry FINRA Investment Adviser

CFPB Roundup: Monthly Complaint Snapshot, Supervisory Highlights, and Complaints About Online Marketplace Lenders

The Consumer Financial Protection Bureau (CFPB) has had a busy few weeks, releasing the latest monthly snapshot of consumer complaints, publishing its Supervisory Highlights newsletter to reveal the Bureau has recovered $14.3...more

4/6/2016 - CFPB Consumer Complaint System Online Marketplace Lending Prepaid Payment Products Student Loans

CFPB Tackles Checking Accounts With Compliance Bulletin, Letter to Banks

Why it matters - Taking a deep dive into the area of checking accounts, the Consumer Financial Protection Bureau (CFPB) sent a letter to 25 of the largest retail banks "encouraging them to make available and widely...more

2/23/2016 - Banks CFPB Checking Accounts Credit Reporting Agencies Credit Reports FCRA

CFPB Orders "Buy Here, Pay Here" Auto Dealer to Pay $800,000 for "Abusive" Financing Schemes

Why it matters - Continuing to keep a close eye on the auto lending industry, the Consumer Financial Protection Bureau (CFPB) ordered a "Buy Here, Pay Here" car dealer to pay $700,000 in restitution to customers, with a...more

2/11/2016 - Automotive Loans Car Dealerships CFPB Civil Monetary Penalty Finance Charges Restitution UDAAP

Top 5 Legal Considerations for FinTech Advertising

The growth and expansion of FinTech service providers nationally and internationally over the last five years is reshaping the financial landscape. This evolution includes differentiation in how financial products are...more

2/10/2016 - Behavioral Advertising CAN-SPAM Act ECOA FDIC FinTech FTC Endorsement Guidelines Popular Social Media TCPA Truth in Lending Act (TILA) UDAAP Unfair or Deceptive Trade Practices

CFPB Warns About "Heightened Risk" of In-Person Debt Collections, Settles Case Against Lender for $10.5 Million

Why it matters - In conjunction with the announcement of a $10.5 million agreement with a lender that allegedly engaged in illegal debt collection practices, the Consumer Financial Protection Bureau (CFPB) issued a...more

1/28/2016 - CFPB CFPB Bulletins Debt Collection Dodd-Frank EFTA Enforcement Actions FDCPA Popular UDAAP

House Passes Bills to Circumscribe CFPB Authority

Why it matters - Congress pushed back against multiple Consumer Financial Protection Bureau (CFPB) initiatives recently, passing legislation that would override the Bureau's policies with regard to auto lending and...more

12/15/2015 - Automotive Loans CFPB Mortgages Proposed Legislation Regulation Z Truth in Lending Act (TILA)

Preauthorized EFTs on CFPB Radar

Why it matters - Preauthorized electronic fund transfers (EFTs) were the subject of a new Compliance Bulletin issued by the Consumer Financial Protection Bureau (CFPB), discussing the requirements under the Electronic...more

12/14/2015 - CFPB CFPB Bulletins EFTA Financial Institutions Merchants Regulation E

Eleventh Circuit's Surcharge Ruling Sets up Possible Supreme Court Showdown

Why it matters - Setting the stage for a possible visit to the U.S. Supreme Court, the Eleventh Circuit Court of Appeals ruled that Florida's prohibition on imposing a surcharge on credit card purchases while...more

12/2/2015 - Attorney Generals Cash Transactions Credit Card Surcharges Discounts First Amendment SCOTUS

Midland Has Appealed to the U.S. Supreme Court

Madden v. Midland Funding, an important court case for marketplace lending may now be heard at the Supreme Court. We have been following the Madden v. Midland Funding case as it makes its way through the court system....more

11/19/2015 - Lenders Madden v Midland Funding Midland Funding Online Marketplace Lending SCOTUS

CFPB Rushes to Aid of RushCard Customers; Will Industry Face Fallout?

Why it matters - A recent technical glitch for a major prepaid card could result in greater oversight for the industry as a whole. In October, consumers using prepaid RushCards were suddenly unable to access their funds....more

11/17/2015 - CFPB Late Fees Payment Processors Prepaid Payment Products Putative Class Actions

74 Results
|
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×