Valerie Hletko

Valerie Hletko

BuckleySandler LLP

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Latest Publications


Special Alert: OCC Guidance Applies Consumer Protection Requirements to Overdraft Lines and Protection Services

On February 11, 2015, the OCC issued the “Deposit-Related Consumer Credit” booklet of the Comptroller’s Handbook, which replaced the “Check Credit” booklet. The booklet provides updated guidance and examination procedures...more

2/17/2015 - Banks CFPB Consumer Financial Products Guidance Update OCC Overdraft Fees Regulation Z TILA

Special Alert: CFPB States Supervisory Obligations Trump Nondisclosure Agreements

On January 27, the CFPB issued Compliance Bulletin 2015-01 to remind supervised financial institutions of their obligations concerning the disclosure of confidential supervisory information (CSI) to the CFPB and to third...more

1/29/2015 - CFPB Confidential Information Disclosure Requirements Financial Institutions Non-Disclosure Agreement Nonbank Firms Supervision Third-Party

Deference in Decline: ECOA’s Regulation B and Agency Discretion Might Not Be Broad Enough to Include Spousal Guarantors

For more than 40 years, the Equal Credit Opportunity Act (‘‘ECOA’’) has prohibited lenders from discriminating against applicants for credit on various prohibited bases, including marital status. The policy reasons for such...more

1/22/2015 - Commercial Loans Consumer Lenders Discrimination ECOA Federal Reserve Guarantors Lenders Regulation B Spouses

A New Defense Against Municipal Disparate Impact Claims

Banks and non-bank lenders face a variety of fair lending disparate impact claims, which allege unintentional and unfavorable disparate impacts of otherwise neutral policies or practices on minority borrowers. Regulators,...more

6/9/2014 - ADEA Age Discrimination Disparate Impact Fair Housing Act Municipalities

The British (Financial Regulatory Principles) Are Coming!

Regulation of financial products and services in the U.S. historically has relied on rules-based regulatory policy, governing business processes including disclosures relating to terms, pricing, structure and marketing. The...more

4/16/2014 - Financial Products Regulatory Standards UK

Emerging Enforcement Activity Trends Toward Vicarious Liability For Service Providers

The Consumer Financial Protection Bureau’s (CFPB) latest enforcement action brings the total count relating to ancillary credit products to five. A common theme in the resulting consent orders is service provider management —...more

11/5/2013 - CFPB Dodd-Frank Enforcement Actions Vicarious Liability

Special Alert: OCC Updates Third-Party Risk Management Guidance

On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings...more

11/4/2013 - Affiliates Banks Contract Drafting Due Diligence Joint Venture OCC Payment Processors Risk Management Subsidiaries

Spotlight On The Short-Term Credit Crackdown

Short-term lending is under a new round of attacks, and this time some banks are feeling the heat. The New York State Department of Financial Services recently issued a letter to 117 banks requesting that they “choke off"...more

10/7/2013 - Enforcement Actions Financial Services Authority Loans Short-Term Investments

Which One Of Us Is The Service Provider? The Dodd-Frank Act's Infinite Loop Of Oversight

Prudential regulators have advised supervised banks for nearly 30 years about the need for careful diligence of their service providers, but the expectations of the Consumer Financial Protection Bureau (“CFPB” or the...more

8/13/2013 - Bank Service Providers Banks CFPB Covered Banking Entity Dodd-Frank Due Diligence

HUD Sets Stage For FCA Claims Against Fund Recipients

The Fair Housing Act requires agencies to administer their programs and activities relating to housing and urban development “affirmatively to further” fair housing. Recipients of U.S. Department of Housing and Urban...more

8/2/2013 - Fair Housing Act False Claims Act Housing Market HUD Mortgages

More Scrutiny For Short-Term, Small-Dollar Loans

On June 17, the U.S. Department of Defense issued advance notice of proposed rulemaking (ANPR) related to installment loans used by members of the armed forces and their families. The rule, which would revise 32 C.F.R....more

7/15/2013 - Department of Defense Proposed Legislation

A Broader Application Of Fair Debt Collection Principles

On July 10, the Consumer Financial Protection Bureau issued new debt collection guidance and announced broad application of the Fair Debt Collection Practices Act under Sections 1031 and 1036 of the Dodd-Frank Act. The...more


CFPB's Vague New 'Responsible Conduct' Guidelines

On Tuesday, the Consumer Financial Protection Bureau issued CFPB Bulletin 2013-6, titled "Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation and Cooperation." The bulletin identified four pillars of...more

7/4/2013 - CFPB Responsible Business Conduct

Fair Lending Refocused: Loan Modification and Loss Mitigation Outcome Reviews

Mortgage loan servicers are under growing pressure from regulators to adhere to traditional fair lending principles in default servicing operations. Among other things, regulators have suggested that servicers proactively...more


HELOCKed: Putative Class Survives Dismissal Under "Responsible Lending" Standard

It was a not unexpected result at the motion to dismiss stage: On June 30, 2011, the Northern District of Illinois permitted borrowers in a multi-district litigation putative class action to go forward with claims that...more


Outsourcing by Financial Institutions: A Survey of Regulatory Guidance

Outsourcing by U.S. financial institutions is rapidly increasing, as flexibility and cost savings drive information technology, accounting, audit, electronic funds transfer, investment management and human resources into...more


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