On July 29, the Federal Deposit Insurance Corporation (FDIC) issued a Financial Institution Advisory Letter informing the general public that the FDIC does not insure assets issued by non-banking institutions, such as...more
The Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”) Final Rule for Debt Collection (Final Rule) not only provides industry with a much-needed (and long-awaited) framework for the interpretation of the Fair Debt...more
Consumer Financial Protection Bureau (CFPB or "the Bureau") Director, Kathleen L. Kraninger, spoke yesterday at the Bipartisan Policy Center regarding her outlined vision for the Bureau. ...more
The Fair Debt Collections Practices Act (FDCPA or Act) is an archaic consumer protection statute. Well-intentioned when enacted in 1977, unlike fine wine the FDCPA has not aged gracefully....more
For two years the Office of the Comptroller of the Currency (“OCC”) solicited comments on how it can support responsible innovation in the financial services industry in order to meet the evolving needs of the consumers,...more
On February 3, 2017, President Trump issued Executive Order 13772 (“EO”), stating that “It shall be the policy of my Administration to regulate the United States financial system in a manner consistent with the following...more
On Wednesday, July 25, 2018, a United States District Court Judge in the Northern District of Ohio ruled, after a four day jury trial, that the Bureau of Consumer Financial Protection (Bureau) failed to prove that an Ohio...more
On Friday, August 25, 2017, a Federal District Court in the Northern District of Georgia took the extraordinary step of dismissing an enforcement action brought by the Consumer Financial Protection Bureau ("CFPB" or "Bureau")...more
In a groundbreaking decision on October 11, 2016, the D.C. Circuit held the structure of the Consumer Financial Protection Board (CFPB) unconstitutional. Citing the "CFPB's concentration of enormous power in a single,...more