Commercial Law & Contracts › Securities Law › Consumer Protection

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

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

Banking & Financial Services E-Note - April 25, 2013

In This Issue: - Regulators Could Step in with Tougher Rules as Bank Profits Rise - Bill Would Force Study of Basel III Impact on Bank Capital Costs - Regulator Wants Enforcement Powers Against Bank...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 5, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - PAYMENTS - Excerpt from Payments: CFPB...more

USCIS and SEC Stakeholder Engagement: EB-5 Investments and Implications under Federal Securities Law

By Wassem M. Amin, Esq. On April 3, 2013, USCIS and the SEC held a joint conference call to discuss what aspects of federal securities law are implicated by EB-5 Investments, as it relates to both the issuer and the...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - March 22, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE -...more

The First Circuit Strikes Again in Culhane v. Aurora Servicing! MERS System Passes Legal Muster But Borrowers Granted Standing to...

For the second time in a week, the U.S. Court of Appeals for the First Circuit has issued a major foreclosure opinion, this one in Culhane v. Aurora Loan Servicing of Nebraska, No. 12-1285. Writing for a distinguished panel...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - January 25, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - Excerpt from...more

Pennsylvania Enacts Changes to Banking Laws

Significant changes to Pennsylvania banking laws will take effect on December 24, 2012, as a result of three bills, known as the “Banking Law Modernization Package,” signed into law by Governor Tom Corbett....more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry, October 5 2012

In This Issue: - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - CREDIT CARDS - E-COMMERCE Excerpt From Federal Issues: CFPB Continues Credit Card Enforcement Activity. On October...more

CFPB Proposes New Servicing Rules

Recently, the Bureau of Consumer Financial Protection (Bureau) issued proposed rules (Proposal) to amend Regulation X, which implements the Real Estate Settlement Procedures Act (RESPA) and the official interpretation of the...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - September 14 2012

Topics Covered In This Issue: - FEDERAL ISSUES - MORTGAGES - BANKING - CONSUMER FINANCE - SECURITIES - E-COMMERCE - PRIVACY/DATA SECURITY - CRIMINAL ENFORCEMENT - Excerpt From FEDERAL...more

Revised OCC Lending Limits Apply to Broader Array of Credit Exposures

The Office of the Comptroller of the Currency has issued an interim final rule on lending limits that applies not only to national banks but to thrift institutions as well. Section 610 of the Dodd-Frank Wall Street...more

Averting The Apocalypse: Foreclosing Lenders Avoid Disaster and Given More Options To Foreclose In Eaton v. Fannie Mae

In a case with national implications, the Massachusetts Supreme Judicial Court (SJC), in the much anticipated Eaton v. Federal National Mortgage Association case, held that lenders must establish they hold both the promissory...more

Mortgage-Backed Securities Litigation -- Litigation and Regulatory Trends

A CLE presentation covering the common claims and defenses asserted in MBS litigation and recent litigation and regulatory trends....more

Hamilton (City) v. Metcalfe & Mansfield Capital Corporation, 2012 ONCA 156

Limitation in Misrepresentation Cases: Damage v. Damages

Last week, the Ontario Court of Appeal addressed the important distinction between damage and damages with respect to the limitation issue in misrepresentation cases. In Hamilton (City) v. Metcalfe & Mansfield Capital...more

Massachusetts Bankruptcy Court Voids Foreclosure of MERS Mortgage, Raising Troubling Implications For MERS Registration System

The sophisticated financial minds who wrought the MERS regime sought to simplify the process of repeatedly transferring mortgage loans by obviating the need and expense of recording mortgage assignments with each transfer. No...more

Featured Link – Consumer Financial Protection Bureau

The new Consumer Financial Protection Bureau (CFPB) has launched its Web site, and it looks promising. The CFPB will work to ensure that financial companies make the true price clear to consumers so they can make the...more

Dealing With The Mess U.S. Bank v. Ibanez Left Behind: Massachusetts High Court To Consider Buyer’s Rights After Invalid...

The Massachusetts Supreme Judicial Court has taken up an appeal about whether a home buyer can rightfully own a property if the bank that sold it to him did not have the right to foreclose on the original owner, after the...more

CFTC Publishes Seventh Series of Dodd-Frank Rules

The Commodity Futures Trading Commission has published its seventh series of rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The latest round of CFTC rules and rule proposals relates to an “end...more

CFTC Approves Sixth Series of Dodd-Frank Rulemakings

The Commodity Futures Trading Commission held a public meeting on December 1 to propose its sixth series of rules under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFTC has published notification of...more

FINRA Requests Comment on Proposal to Require Disclosure Statement to Retail Investors

The Financial Industry Regulatory Authority released a notice requesting comment on its proposal that would require member firms at or prior to commencing a business relationship with a retail customer to provide a written...more

Treasury Department Requests Comments on Exemption for Foreign Exchange Swaps and Forwards

The U.S. Treasury Department has requested public comment on whether foreign exchange swaps and forwards should be exempted from the definition of a “swap” under the Commodity Exchange Act (CEA). Pursuant to the Dodd-Frank...more

The Investor Protection Act of 2009

On July 10, 2009, the Treasury released draft legislation,1 the Investor Protection Act of 2009 (the “Proposed IPA”), intended to provide new tools to the Securities and Exchange Commission to protect investors. The proposed...more

Privacy and Security Advisory: Proposed Amendments May Expand Protections of Consumer Financial Information in the Securities...

On March 4, 2008, the Securities and Exchange Commission (SEC or the “Commission”) proposed amendments to Regulation S-P, which governs the privacy of consumer financial information in the securities industry, in an effort...more

State of Nevada Mediation Forclousre Forms

One of the program’s newly appointed mediators has scheduled the mediations to kick off the program that was created by the Nevada Legislature to help keep financially struggling Nevada residents in their homes. Both...more