Jeffrey M. Werthan

Jeffrey M. Werthan

Katten Muchin Rosenman LLP

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Federal Reserve and CFPB Announce New Thresholds for Exempt Consumer Credit and Lease Transactions

On November 20, the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) announced they are increasing the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for...more

11/27/2013 - CFPB Dodd-Frank Federal Reserve Regulation M Regulation Z TILA

CFPB Bulletin Warns Employers Against Exclusive Use of Payroll Cards

On September 12, the Consumer Financial Protection Bureau (CFPB) published a bulletin reminding employers that they cannot require their employees to receive wages on a payroll card. The bulletin also explains some of the...more

9/18/2013 - CFPB Compliance Employee Rights Minimum Wage Payroll Cards Wages

CFPB Director Cordray Addresses Overdraft Fees

In prepared remarks given on June 11, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray summarized the CFPB’s preliminary report on the overdraft practices of banks and other financial institutions....more

6/19/2013 - ATMs CFPB Debit Cards Overdraft Fees Richard Cordray

CFPB Amends the Ability-to-Repay Rules Regarding Qualified Mortgages

On May 29, the Consumer Financial Protection Bureau (CFPB) finalized rules to facilitate access to credit by creating specific exemptions and modifications to the CFPB’s Ability-to-Repay rule for small creditors, community...more

6/5/2013 - Ability-to-Repay Amended Regulation CFPB Creditors Dodd-Frank Loan Originator Compensation Rule Qualified Mortgage Rule

Consumer Financial Protection Bureau Releases Final Rule on International Remittance Transfers

On April 30, the Consumer Financial Protection Bureau (CFPB) issued its final rule amending subpart B of Regulation E, which implements the Electronic Fund Transfer Act, and the official interpretation to the regulation. This...more

5/16/2013 - CFPB International Remittance Transfers

Steve Antonakes, Acting Deputy Director of the CFPB, Addresses Bankers

On April 17, Steve Antonakes, Acting Deputy Director of the Consumer Financial Protection Bureau (CFPB), addressed the American Bankers Association meeting in Washington, D.C...more

4/24/2013 - American Bankers Association CFPB

CFPB Releases Public Complaint Database

On March 28, the Bureau of Consumer Financial Protection (CFPB) announced the release of a public database of federal consumer financial complaints with information on more than 90,000 individual complaints on financial...more

4/11/2013 - CFPB Consumer Complaint System Credit Cards Loans Mortgages Student Loans

CFPB Finalizes ATM Disclosure Rule Changes

On March 21, the Bureau of Consumer Financial Protection finalized a rule implementing the ATM placard legislation that was signed into law last December. In December 2012, Congress passed and the President signed legislation...more

4/3/2013 - ATMs CFPB Disclosure Requirements EFTA Fees

DC Court of Appeals Decision May Impact CFPB Powers and Authority

A recent decision by a three-judge appellate panel of the US Court of Appeals for the District of Columbia Circuit (DC Circuit) may hold the key to whether, and to what extent, actions taken by Richard Cordray as the Director...more

2/7/2013 - Barack Obama CFPB NLRB Pro Forma Sessions Recess Appointments Richard Cordray

CFPB Delays Remittance Rule

The Consumer Financial Protection Bureau (Bureau) announced on January 22 that it is issuing a final rule to delay the February 7, 2013, effective date of final rules published by the Bureau on February 7, 2012, and August...more

2/7/2013 - CFPB EFTA Remittance Transfer Rule

Agencies Issue Final Rule on Appraisals for Higher-Priced Mortgage Loans

On January 18, six federal financial regulatory agencies (the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Housing Finance...more

2/1/2013 - CFPB Dodd-Frank FDIC Federal Reserve FHA Higher-Priced Mortgage Loans Mortgages TILA

CFPB Proposes Revisions to Remittance Rule

The Consumer Financial Protection Bureau (CFPB or Bureau) on December 21 issued proposed revisions to a rule that creates certain protections for consumers who transfer money internationally. The proposed revisions, according...more

1/10/2013 - CFPB International Remittance Transfers Remittance Transfer Rule

HMDA's Regulation C Exemption Limits Increased by CFPB

The Consumer Financial Protection Bureau (CFPB) on December 28 issued a final rule adjusting the asset-size exemption threshold for banks, savings associations and credit unions under Regulation C, which implements the Home...more

1/10/2013 - CFPB Disclosure Requirements HMDA Mortgages

CFPB Proposes Consumer Disclosure Experiments

On December 13, the Consumer Financial Protection Bureau (Bureau) issued a proposal that would allow banks to test their own consumer disclosures, with Bureau approval, to see if the disclosure is effective. Known as the...more

12/18/2012 - CFPB Trial Disclosure Programs

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