Latest Publications

Share:

CFPB v. Townstone Financial - 7th Circuit Expands Equal Credit Opportunity Act Claims to “Potential Applicants” in Redlining...

On July 11, 2024, the U.S. Court of Appeals for the 7th Circuit held in Bureau of Consumer Financial Protection v. Townstone Financial, Inc., that the Equal Credit Opportunity Act (“ECOA”) prohibits discriminatory conduct,...more

Potential Broker Antitrust Liability and the $1.78 Billion Verdict in Recent Missouri Case

On October 31, 2023, a Missouri jury awarded the plaintiff class in Sitzer/Burnett v. Nar, et al a $1.78 billion damages verdict against several real estate brokerage companies and the National Association of Realtors, based...more

Abusive Policy Statement

Since its inception, the Consumer Financial Protection Bureau (“CFPB”) has issued policy statements around its authority to root out, stop and prevent unfair and deceptive acts pursuant to the Unfair, Deceptive and Abusive...more

CFPB v. Law Offices of Crystal Maroney

On March 23, 2023, the U.S. Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (the “CFPB”) funding structure is constitutional. The Second Circuit’s three-judge unanimous panel...more

New York Clears Up What Can Be Included in a Pre-Foreclosure Notice

On February 14th the NY Court of Appeals held that including additional information, such as bankruptcy disclosures, debt collection disclosures and service members' disclosures, in a 90-day preforeclosure notice is...more

CFSA v. CFPB Certiorari Arguments – Consumer Financial Services Association of America v. Consumer Financial Protection Bureau –...

On February 1, 2023, the parties completed briefing on the Consumer Financial Protection Bureau’s (“CFPB”) petition for writ of certiorari to the U.S. Supreme Court in the case of Consumer Financial Services Association of...more

CFPB v. Townstone Financial - Federal Court Limits Equal Credit Opportunity Act Claims to Lending “Applicants” Only

​In Bureau of Consumer Financial Protection v. Townstone Financial, Inc., the Consumer Financial Protection Bureau (“CFPB”) brought suit against Townstone, a mortgage broker/lender, and its co-founder and chief executive,...more

5th Circuit Court of Appeals Declares Consumer Financial Protection Bureau’s Funding Structure Unconstitutional as Violative of...

On October 19, 2022, the United States Court of Appeals for the 5th Circuit dealt a severe blow to the Consumer Financial Protection Bureau’s (“CFPB”) enforcement authority, finding the CFPB’s “self-funding” mechanism...more

CFPB's New Digital Marketing Rule

The CFPB is now ready to directly regulate the purveyors of digital consumer marketing. The CFPB new rule clarifies when digital marketers and financial products sellers are subject to consumer protection regulations. Digital...more

CFPB's Use of its UDAAP Authority to Address Illegal Discrimination

CFPB's intended use of its UDAAP authority to investigate, and regulate and enforce against illegal "discrimination" in financial products and services breaks open the proverbial damn, with such authority washing over every...more

When Is Supervisory Guidance By Banking Regulators Not A Rule To Live By? When There Is A Rule That Says So.

On September 11, 2018, an interagency statement was issued by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., the National Credit Union...more

Alleged SCRA and MLA Violations Lead To Lender Being Assessed A $85 Million Dollar Penalty Under OCC Consent Order

A national lender, USAA Federal Savings Bank, entered into a consent order with the Office of the Controller of the Currency (“OCC”), which included an $85 million dollar civil money penalty for alleged "unsafe or unsound"...more

Supreme Court Rules That the CFPB Director Must Be Removable at Will

The U.S. Supreme Court ruled on June 29 that the Director of the Consumer Financial Protection Bureau (CFPB) cannot constitutionally be subject to removal only for cause, as provided by the Dodd-Frank Wall Street Reform and...more

Is It The Chicken Or The Egg When It Comes To Alleged Violations of Consumer Protection Laws?

On April 23, Texas Attorney General Ken Paxton accused the country’s largest egg producer, which sells brands like Egg-Land’s Best and Land O’ Lakes, of raising the price of a dozen eggs by 300%. See Texas v. Cal-Maine Foods...more

If the Shield Against At-will Termination of the CFPB’s Director is Unconstitutional, What Next?

The U.S. Supreme Court has already agreed to consider in the matter of Seila Law v. CFPB whether the for-cause requirement for the President’s dismissal of the Consumer Financial Protection Bureau’s (“CFPB”) director is...more

Will Dismissal Only “For Cause” Be the Downfall of the CFPB?

The United States Supreme Court has granted certiorari in the matter of Seila Law LLC v. Consumer Financial Protection Bureau to address the question of whether the Consumer Financial Protection Bureau’s (CFPB)...more

CFPB Continues Its Enforcement In Less Than Traditional Areas of Consumer Protection; This Time it is Remittances

The Consumer Financial Protection Bureau (CFPB) announced on Tuesday, August 27, 2019 a consent order entered into with Maxitransfers Corp., a Texas-based money transmitter, following its investigation of Maxitransfers’...more

New Jersey Appellate Division Curtails Prior Holdings Exempting “Semi-Professionals” from the Consumer Fraud Act

In a recent published decision, Shaw v. Shand, the New Jersey Appellate Division held that licensed semi-professionals are not "learned professionals" exempt from liability under the Consumer Fraud Act ("CFA")2 simply because...more

8/26/2019  /  Appeals , Consumer Fraud , Exemptions

New York Department of Financial Services’ Title Insurance Regulation Vacated, Again? On to the Court of Appeals

On August 5, 2019 a New York state court, on remand from the Appellate Division, again determined that Section 228.2(c) of the New York Department of Financial Services’ (DFS) Title Insurance Regulation was unconstitutionally...more

To Mini-CFPB or Not To Mini-CFPB? That’s the Question for California

Recently, joined by former CFPB Director Richard Cordray, California Assemblywoman Monique Limon (D-Santa Barbara) told a press gathering that she planned to introduce legislation to create a state-level version of the...more

NJ Bill Seeks to Regulate the Business of Data

Data is thought to be such a significant commodity in today’s economy that it has been referred to as "the new oil." Business ventures across the globe in assorted industries have recognized and attempted to realize the...more

Cheers and Jeers for CFPB's Proposed Amendment to Payday Lending Rule

The CFPB’s proposed amendments to its Payday, Vehicle Title, and Certain High-Costs Installment Loans Rule have changes that are generally disliked by consumer advocacy groups and applauded by them as well....more

Court Ends Short-Lived Regulation 208, Aimed at Curbing Title Insurance Marketing Expenses

In December 2017, the New York Department of Financial Services (“DFS”) promulgated Regulation 208 to rein in marketing activities of title insurance corporations, title agents, and closers. The goal of Regulation 208 was to...more

Supreme Court Provides One-Two Punch to Certification of TCCWNA Claims; Are TCCWNA Class Actions Out For Count?

In consolidated appeals, the Supreme Court of New Jersey reversed class certification of two class actions asserting violations of the Truth-in-Consumer Contract, Warranty and Notice Act (“TCCWNA”). Both sets of plaintiffs...more

NJ Seeks to Protect Consumer Data with Personal Information Privacy and Protection Act

A recently enacted New Jersey law restricts retailers from collecting and using personal information gleaned from driver’s licenses and other identification cards. The law, which will take effect October 1, 2017, is meant to...more

35 Results
 / 
View per page
Page: of 2

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