Commercial Law & Contracts, Consumer Protection

NACHA’s Guidelines For Bill Payments Via QR Codes

by Kate Aishton, Andrew Grant | BuckleySandler LLP on 5/22/2013

NACHA, the Electronic Payments Association, has just taken a step towards easing consumer payments via mobile devices. The Council for Electronic Billing and Payment, a subsection of NACHA, released its 'Quick Response...more

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

by Loeb & Loeb LLP on 5/22/2013

The Consumer Financial Protection Bureau has enacted a new rule that will prohibit the inclusion of mandatory arbitration provisions and waivers of federal statutory causes of action in consumer mortgage and home equity loan...more

CFPB Issues Rules Governing Use of Civil Penalty Funds

by Michael Mallow, Michael Thurman | Loeb & Loeb LLP on 5/22/2013

One of the most intriguing aspects of the new Consumer Financial Protection Bureau is the agency's novel power not only to assess civil penalties against those entities that violate its rules and federal consumer laws, but...more

CFPB settles RESPA enforcement action involving affiliated business arrangements

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 5/21/2013

The CFPB has announced the settlement of an enforcement action in which it was alleged that two affiliated business arrangements (ABAs) violated Section 8 of the Real Estate Settlement Procedures Act....more

CFPB finalizes mortgage escrow rule amendments and list of “rural” or “underserved counties” and issues videos on mortgage rules

by Richard J. Andreano, Jr. | Ballard Spahr LLP on 5/21/2013

The CFPB has issued final “clarifying and technical” amendments to its final mortgage escrow account rule dealing with the establishment of mandatory escrow accounts on higher-priced mortgage loans (HPML)....more

CFPB’s Consumer Advisory Board hears from payday loan consumers and other supporters

by Alan S. Kaplinsky | Ballard Spahr LLP on 5/21/2013

We have been critical of the failure of the CFPB’s white paper on payday and deposit advance loans to address the very real benefits of payday loans or the question whether (and when) such benefits outweigh the costs....more

Ohio Supreme Court Holds Mortgage Servicing Not Subject To Consumer Sales Practices Act

by BuckleySandler LLP on 5/21/2013

On May 14, the Ohio Supreme Court held in response to two certified questions from a federal district court that the Ohio Consumer Sales Practices Act (CSPA) generally does not apply to mortgage servicers and servicing....more

CFPB Takes Action Against Real Estate Kickbacks Under RESPA

by Stephen M. Quinlivan | Leonard, Street and Deinard - Employee... on 5/21/2013

The CFPB has ordered a Texas homebuilder, Paul Taylor, to surrender more than $100,000 he received in kickbacks for referring mortgage origination business to Benchmark Bank and to Willow Bend Mortgage Company....more

CFPB and Justice Department Team Up on Enforcement

by Allyson Baker | Venable LLP on 5/21/2013

On May 7, 2013, the Consumer Financial Protection Bureau ("CFPB" or “Bureau”) and the United States Attorney’s Office for the Southern District of New York announced a joint law enforcement effort in U.S. District Court for...more

Court Dismisses California AG’s First Suit Against Mobile Application Provider Under Online Privacy Protection Act

by BuckleySandler LLP on 5/21/2013

On May 9, the Superior Court of California dismissed California Attorney General Kamala Harris’ first suit against a company for allegedly failing to comply with the state’s Online Privacy Protection Act. California v. Delta...more

CFPB Targets Service Provider in Real Estate Kickback Enforcement Action

by Jonathan L. Pompan | Venable LLP on 5/21/2013

The CFPB continues to use its enforcement power on service providers, including companies involved in advertising and marketing and lead generation The Consumer Financial Protection Bureau (the "CFPB") announced it...more

Update: FDA Regulation of Marijuana “Medibles” Presents Challenges and Uncertainty for Marijuana-based Food Manufacturers and...

by Fuerst Ittleman David & Joseph, PL on 5/21/2013

As we recently reported, federal regulators have continued to take measures aimed at stymieing the growth of the marijuana industry. Medical marijuana is now legal in over 18 states and, in November 2012, voters in Colorado...more

Second Circuit Sides With CFPB In ILSFDA Case While Applying Auer Deference

by BuckleySandler LLP on 5/20/2013

On May 6, the U.S. Court of Appeals for the Second Circuit agreed with the CFPB in holding that a single-story unit in a multi-story condominium is a “lot,” as that term is used in the Interstate Land Sales Full Disclosure...more

House to hold hearing on CFPB ability to repay/QM rule

by Barbara S. Mishkin | Ballard Spahr LLP on 5/20/2013

The House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit has scheduled a hearing for tomorrow, May 21, on “Qualified Mortgages: Examining the Impact of the Ability to Repay Rule.”...more

Spotlight On The SCRA (Part 2 Of 3): Ensuring Compliance

by BuckleySandler LLP on 5/20/2013

Recent enforcement activity has demonstrated the agencies have taken to viewing the SCRA as a strict liability statute. This shift in interpretation makes financial institutions legally responsible for compliance with the...more

April Housing Scorecard

by Orrick - Structured Finance Group on 5/20/2013

On May 10, Treasury and HUD released the April 2013 housing scorecard,which provides information on the housing market and the Obama Administration’s foreclosure prevention programs....more

Client Alert: SEC Publishes Cross-Border Release and Reopens Comment Period for Dodd-Frank Rules

by Mara Giorgio, Micah Green, Matthew Kulkin | Patton Boggs LLP on 5/20/2013

On May 1, 2013, the Securities and Exchange Commission (SEC or Commission) held an open meeting to consider: - Whether to propose new rules and interpretive guidance for cross-border security-based swap (SBS)...more

FCC Rules Sellers May Be Vicariously Liable for Third-Party Telemarketers’ Violations of Telephone Consumer Protection Act

by Jim DeGraw, David McIntosh, Doug Meal, Mark Szpak | Ropes & Gray LLP on 5/20/2013

The Federal Communications Commission (“FCC”) recently declared that sellers of products and services can be held vicariously liable for actions of third-party telemarketers that violate the Telephone Consumer Protection Act...more

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Commercial Law & Contracts › Consumer Protection

NACHA’s Guidelines For Bill Payments Via QR Codes

TILA Prohibition on Mandatory Arbitration Provisions in Mortgage Agreements Takes Effect June 1, 2013

CFPB Issues Rules Governing Use of Civil Penalty Funds

CFPB settles RESPA enforcement action involving affiliated business arrangements

CFPB finalizes mortgage escrow rule amendments and list of “rural” or “underserved counties” and issues videos on mortgage rules

CFPB’s Consumer Advisory Board hears from payday loan consumers and other supporters

Ohio Supreme Court Holds Mortgage Servicing Not Subject To Consumer Sales Practices Act

CFPB Takes Action Against Real Estate Kickbacks Under RESPA

CFPB and Justice Department Team Up on Enforcement

Court Dismisses California AG’s First Suit Against Mobile Application Provider Under Online Privacy Protection Act

CFPB Targets Service Provider in Real Estate Kickback Enforcement Action

Update: FDA Regulation of Marijuana “Medibles” Presents Challenges and Uncertainty for Marijuana-based Food Manufacturers and...

Second Circuit Sides With CFPB In ILSFDA Case While Applying Auer Deference

House to hold hearing on CFPB ability to repay/QM rule

Spotlight On The SCRA (Part 2 Of 3): Ensuring Compliance

April Housing Scorecard

Client Alert: SEC Publishes Cross-Border Release and Reopens Comment Period for Dodd-Frank Rules

FCC Rules Sellers May Be Vicariously Liable for Third-Party Telemarketers’ Violations of Telephone Consumer Protection Act

Vermont Now Allows Entry Fees for Skill-Based Contests

CFPB launches Spanish language website

CFPB Releases Plain Language Video Guides for New Mortgage Rules

DOJ Files First Criminal Action On CFPB Referral, CFPB Files Parallel Civil Suit

Consumer Financial Protection Bureau Releases Final Rule on International Remittance Transfers

FTC confirms continued commitment to vigorous enforcement in letter to CFPB

Trade group charges CFPB’s closing of Consumer Advisory Board meeting to public violates federal law

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