Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Could This Law School Ranking Unseat US News?
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Tips for Mobile App Privacy Compliance
Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
Buchheit: Cyprus Could Need a Second Bailout
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Craft Beer Boom in Michigan
Law Prof: I May File Law School Ethics Charges
Monster Energy Drink Accused of Teen Death
A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules
Beware of Notarios
What’s Next from the CFPB
Weekly Brief: Lawyers Laid Off After Foreclosure Settlement
Dean: There's No Oversupply of Lawyers
Jennifer Abril on The Story of Fragrances
Top 3 Concerns in Data Security
Weekly Brief: Will Congress Garnish Paychecks to Repay Student Loans?
McEntee: Law Schools Should Cut Enrollment 50%
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
We have been keeping track of FinCEN's SAR Activity Review – Trends, Tips & Issues virtually from its inception.
In its just issued May 2013 report, FinCEN provides new information regarding two areas of importance:
On May 7, the U.S. Attorney for the Southern District of New York announced mail and wire fraud charges against a debt settlement firm, its owner, and three of its employees. ...more
In what he called "a harbinger of an especially potent partnership," Preet Bharara, U.S. Attorney for the Southern District of New York, announced Tuesday the filing of criminal charges against a New York debt settlement firm...more
At a press conference yesterday in New York City, Director Cordray announced that the CFPB had made a criminal referral to the United States Attorney for the Southern District of New York arising out of the CFPB’s...more
New York Attorney General Eric Schneiderman To Sue Wells Fargo & Bank Of America For Violating National Mortgage Settlement...more
I had the following email exchange earlier this year with a concerned client:
Client (in late January 2013): "Hi Steve, I was wondering if you knew of any cases where employees were prosecuted for not following...more
FRAUD, NOT MISTAKES AND ERRORS, HAVE PERMEATED THE FORECLOSURE PROCESS IN AMERICA
When judges begin ordering the accounting and financial books and records of the
alleged owner of a borrower’s note to be produced, not...more
For several months, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) has implemented a spate of enforcement actions against banks and non-banks. My interest in this article is neither to re-litigate those cases...more
A lot of companies transact in credits that might be called “virtual currency.” Most of these companies probably do not consider themselves financial institutions. Many have never considered the possibility that they need to...more
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
On January 24, 2013, as the last of the Final Rules of the Consumer Financial Protection Bureau (CFPB) rolled out, I offered an outline of all of them, entitled "CFPB's Gang of Seven (Final Rules)".*
I listed them in...more
On March 20, 2013, Michael Bresnick, Executive Director of DOJ’s Financial Fraud Enforcement Task Force gave a speech at the Exchequer Club of Washington, DC highlighting recent accomplishments of the Task Force and outlining...more
Lessons Learned Could Enhance Continuing Reviews and Activities under Amended Consent Orders
The Government Accountability Office released their second report on the Independent Foreclosure Reviews. At...more
The Financial Crimes Enforcement Network (FinCEN) has issued formal guidance to clarify the anti-money laundering obligations of administrators and exchangers of convertible virtual currency.
“Virtual” currency, unlike...more
Senator Elizabeth Warren and Representative Elijah Cummings to Meet with Fed and OCC on Foreclosure Abuses
Washington, D.C. March 25, 2013
Senator Elizabeth Warren (D-MA) and Rep. Elijah E. Cummings (D-MD) sent a...more
Legislative Counsel’s Digest:
Under existing law, the Nevada Gaming Commission and the State Gaming Control Board are required to perform various acts relating to the regulation and control of gaming. (NRS 463.140)...more
Legal links of interest for the week ending March 15, 2013
Friday, March 15, 2013
by Steven J. Getman, Esq.
Attorney Steven Getman reports on some of the stories about courts, the law and lawyers in the news this past...more
Over the last few weeks, two big stories have made headlines in the food industry. Beginning in early February, news media across Europe began reporting that food products tested in several European countries contained...more
Thursday, March 7, 2013
WHISTLEBLOWER: WELLS FARGO FABRICATED AND ALTERED MORTGAGE DOCUMENTS ON A MASS BASIS
Over the last two and a half years, Wells Fargo, like most of the major mortgage servicers, claimed that it had a...more
What’s in a name?
When you think of identity theft, you typically think of someone taking a person’s name plus some other identifiers, like their address and Social Security number or credit card number, to go on a...more
Once again, the FTC has completed a major enforcement action against the illegal use of robocalls, a form of prerecorded, computerized telemarketing calls. This time, the action resulted in a $1.1 million civil penalty...more
A 2007 audit initiated by a Medicare Program Safeguard Contractor (PSC) discovered that a North Carolina provider had a high incidence of inpatient billings for patients who did not stay in the hospital overnight. The PSC's...more
Attorney Steven Getman reports on some of the stories about courts, the law and lawyers in the news this past week:
• Court strikes down Obama recess appointments: The DC Circuit Court of Appeals has ruled that President...more
Court of Appeal affirmed trial court's determination that making a loan based on a false promise to repay amounted to theft by false pretense, and Penal Code 496 therefore applied, entitling the victim to recover treble...more
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