The U.S. Department of Labor (DOL) scored an initial victory in what is sure to be a long legal battle over the so-called "fiduciary rule." Judge Randolph D. Moss of the U.S. District Court for the District of Columbia issued...more
Lost in the commotion surrounding the Department of Labor's new fiduciary rule was the Securities and Exchange Commission's approval of FINRA's recruitment bonus disclosure rule, which requires action by broker dealers when...more
The U.S. Department of Labor released its long anticipated "fiduciary rule" on April 6, 2016. The rule requires brokers and financial advisers to put their clients' interests ahead of their own when recommending retirement...more
4/21/2016
/ 401k ,
Best Interest Contract Exemptions ,
Brokers ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Benefits ,
Fiduciary Duty ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan
When the Consumer Finance Protection Bureau (CFPB) released its study on the use of pre-dispute arbitration (PDA) clauses earlier this year, many expected the CFPB to propose a ban on all PDAs in contracts for consumer...more
10/20/2015
/ Arbitration Agreements ,
Automotive Loans ,
Bank Accounts ,
Class Action ,
Compliance ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Financial Institutions ,
Money Transfer ,
Payday Loans ,
PDA ,
Pre-Dispute Arbitration ,
Prepaid Payment Products ,
Public Disclosure
The general rule in litigation is that each side pays its own legal fees, regardless of who wins. There is no fee shifting. Exceptions to that general rule primarily exist in the form of contractual arrangements or statutes...more
The Consumer Financial Protection Bureau (CFPB) recently announced what may be its boldest move yet: a $63 million enforcement action in coordination with the Federal Trade Commission (FTC) against Minnesota-based mortgage...more
On April 14, 2015, the U.S. Department of Labor ("DOL") released a controversial proposal that would require financial advisors to put their clients' interests ahead of their own when recommending retirement investments....more
Earlier this month, the Consumer Financial Protection Bureau (CFPB), a bureau of the Federal Trade Commission, released its Arbitration Study Report to Congress. The report suggests that pre-dispute arbitration clauses and...more
Arbitration is sometimes touted as less expensive and less risky for businesses than traditional courtroom litigation, especially when it comes to consumer disputes. But disgraced cyclist Lance Armstrong's most recent legal...more
In a recent ruling on In re Land Securities Investors, Ltd., the United States Bankruptcy Court for the District of Colorado ruled that trust beneficiaries do not have standing to appear in a bankruptcy case even when the...more
The so-called “American Rule” generally requires each party to a lawsuit to bear its own costs and attorneys’ fees in the absence of a statute or contract to the contrary. Likewise, there is no inherent power or implied...more