Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more
12/15/2021
/ BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Cryptocurrency ,
Data Collection ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Credit Reporting Act (FCRA) ,
Fair Lending ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Libor ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Payment Systems ,
Ransomware ,
Redlining ,
Risk Assessment ,
Student Loans ,
TCPA ,
Technology ,
Truth in Lending Act (TILA) ,
U.S. Treasury ,
UDAAP ,
UDAP
As spring turns to summer, climate change is on our minds. A new day, a new story about how financial institutions are addressing climate-related risks. In the past few months, six major banks—Bank of America, JPMorgan...more
6/9/2021
/ Anti-Money Laundering ,
Arbitration ,
Artificial Intelligence ,
Banking Sector ,
Bostock v Clayton County Georgia ,
BSA/AML ,
Carbon Emissions ,
Climate Change ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
Cryptocurrency ,
Cybersecurity ,
Department of Education ,
Department of Homeland Security (DHS) ,
Eviction ,
FDIC ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FinCEN ,
FRB ,
FSOC ,
HOLA ,
Landlords ,
Mortgages ,
NYDFS ,
OCC ,
Popular ,
Student Loans ,
TCPA ,
U.S. Treasury
We join the nation in mourning the passing of Supreme Court Justice Ruth Bader Ginsburg. Over her 20-year career before appointment to the D.C. circuit court, Justice Ginsburg fought for equal rights in the workplace, among...more
10/16/2020
/ Arbitration ,
BSA/AML ,
California Consumer Privacy Act (CCPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Coronavirus/COVID-19 ,
CRA ,
Credit Cards ,
Cybersecurity ,
ECOA ,
Fair Lending ,
FDIC ,
FFIEC ,
Financial Institutions ,
FinCEN ,
FRB ,
Governor Newsom ,
Interim Final Rules (IFR) ,
Main Street Lending Programs ,
OCC ,
Public Assistance ,
Ruth Bader Ginsberg ,
Safe Harbors ,
SBREFA ,
TCPA ,
Underwriting ,
Volcker Rule
Punxsutawney Phil didn’t see his shadow, so we’re expecting an early spring. Maybe that’s why mini-CFPBs are sprouting or expanding on both coasts. Governor Cuomo announced several key measures impacting financial services...more
The holidays came early for financial institutions when the Supreme Court agreed to hear a challenge to the constitutionality of the CFPB. We can expect fireworks in the New Year as two experienced Supreme Court practitioners...more
The fireworks have started early this year. On May 2, a federal court in New York rejected the OCC’s motion to dismiss the lawsuit brought by the NY DFS challenging the OCC’s fintech charter. The decision has something for...more
6/18/2019
/ Appeals ,
Arbitration ,
BSA/AML ,
Consumer Financial Protection Bureau (CFPB) ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
OCC ,
TCPA ,
UDAP
EDITOR’S NOTE -
In like a lion, out like a lamb—it works for weather; does it work for new administrations? We’ll have to wait and see. We’ll have to wait and see about the length of CFPB Director Richard Cordray’s...more
3/20/2017
/ Anti-Money Laundering ,
Arbitration Agreements ,
Bank Fraud ,
Bank Holding Company Act ,
Banking Sector ,
Banks ,
Civil Monetary Penalty ,
Consumer Financial Protection Bureau (CFPB) ,
Criminal Prosecution ,
Data Security ,
Distributed Ledger Technology (DLT) ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Forfeiture ,
NIST ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Opt-In ,
Overdraft Fees ,
Preemption ,
Shaw v United States ,
Student Loans ,
TCPA ,
TLAC ,
True Lender
BELTWAY -
Every Last Penny Counts -
Five federal banking agencies issued a Supervisory Bulletin titled “Interagency Guidance Regarding Deposit Reconciliation Practices” (the “Guidance”). The Guidance outlines...more
6/8/2016
/ Arbitration ,
Article III ,
CID ,
Civil Investigation Demand ,
Class Action Arbitration Waivers ,
Comptroller ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit ,
Customer Due Diligence (CDD) ,
Data Privacy ,
Data Security ,
Debt Collection ,
ECOA ,
FDCPA ,
Federal Reserve ,
Federal Trade Commission (FTC) ,
FFIEC ,
FHFA ,
Financial Institutions ,
FinCEN ,
FinTech ,
Hawkins v Community Bank of Raymore ,
Mobile Banking ,
Net Stable Funding Ratio (NSFR) ,
Online Marketplace Lending ,
Payday Loans ,
Payment Protection Insurance ,
PCI-DSS Standard ,
Preemption ,
RESPA ,
SCOTUS ,
Spokeo v Robins ,
Standing ,
Student Loans ,
TCPA ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Truth in Lending Act (TILA) ,
UDAAP ,
Virtual Currency ,
Volcker Rule