Consumer Protection, Election & Politics Law, Finance & Banking

No Senate vote on Cordray nomination until after Memorial Day recess

by Barbara S. Mishkin | Ballard Spahr LLP on 5/22/2013

Despite expectations fueled by statements from Senate Majority Leader Harry Reid’s office that he planned to hold a procedural vote on Richard Cordray’s nomination this week, it now appears the Senate will not vote on the...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

Further Setback for the CFPB Director’s Authority?

by Marc Hearron, Andrew M. Smith, Nancy R. Thomas | Morrison & Foerster LLP on 5/20/2013

A split panel of the U.S. Court of Appeals for the Third Circuit issued a decision yesterday holding that a “recess” appointment to the National Labor Relations Board (NLRB) was unconstitutional and invalid. NLRB v. New Vista...more

Senate appears to be nearing vote on Cordray renomination

by Barbara S. Mishkin | Ballard Spahr LLP on 5/16/2013

Bloomberg has reported that, according to a spokesman for Senate Majority Leader Harry Reid, the Senate will vote next week on whether to advance President Obama’s renomination of Richard Cordray to serve as CFPB Director....more

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

by Barbara S. Mishkin | Ballard Spahr LLP on 5/16/2013

A letter sent today to the CFPB by an attorney for the Community Financial Services Association of America (CFSA), a national trade organization for payday lenders, asserts that the CFPB violated the Federal Advisory...more

CFPB Targets Auto Financing For Enforcement

by Michael Volkov on 5/14/2013

The Consumer Finance Protection Bureau continues to spread its wings in the enforcement arena. It is an agency born and confined in political controversy. ...more

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/13/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - What had been a relatively quiet week, where until Friday it seemed...more

Senators Raise Concerns About CFPB’s Data Collection

by BuckleySandler LLP on 5/3/2013

On April 23, the Senate Banking Committee held a hearing during which CFPB Director Richard Cordray testified on the CFPB’s semiannual report to Congress. A substantial portion of the hearing focused on the CFPB’s collection...more

House Committee Refuses To Allow CFPB Director To Appear

by BuckleySandler LLP on 5/3/2013

On April 22, House Financial Services Committee Chairman Jeb Hensarling (R-TX) sent letters to CFPB Director Richard Cordray and CFPB General Counsel Meredith Fuchs stating that the House Financial Services Committee cannot...more

Financial Services Legislative and Regulatory Update -- April 29‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/1/2013

In This Issue: Leading the Past Week; Legislative Branch; and Executive Branch. Excerpt from Leading the Past Week - The past week could be best described by one word. Chaos. In the House, a scheduled...more

Director Cordray’s appearance at Senate Banking Committee hearing yields arbitration news

by Barbara S. Mishkin | Ballard Spahr LLP on 4/25/2013

The only new item of information revealed by Director Cordray during his appearance yesterday before the Senate Banking Committee hearing (in response to a question from Senator Elizabeth Warren) was that he feels “quite...more

Financial Services Legislative and Regulatory Update -- April 22, 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 4/22/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - It was another incredibly busy week, but obviously our thoughts and...more

Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans [Video]

by Bloomberg Law on 4/17/2013

April 18 (Bloomberg) -- Why and when U.S.-managed hedge funds can go bankrupt in the Caribbean, not in the U.S., is the first item discussed on the new bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg...more

Congressional Research Service issues two reports on Canning decision

by Barbara S. Mishkin | Ballard Spahr LLP on 4/10/2013

The D.C. Circuit’s January 2013 decision in Noel Canning v. NLRB is the subject of two recently-issued reports by the Congressional Research Service. The decision held that President Obama’s recess appointments of three...more

CFPB issues third Semi-Annual Report

by Barbara S. Mishkin | Ballard Spahr LLP on 4/4/2013

The CFPB has issued its third Semi-Annual Report to the President and Congress. The report notes that it “predominately” covers the CFPB’s activities from July 1 through December 31, 2012 but, in certain sections, covers the...more

Buchheit: Cyprus Could Need a Second Bailout [Video]

by Bloomberg Law on 3/28/2013

Mar. 28 (Bloomberg Law) -- The sovereign debt crisis in Cyprus marks the fifth European nation to need a bailout in recent memory, but this crisis is unique because European Union regulators are taking the unprecedented step...more

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Consumer Protection › Election & Politics Law › Finance & Banking

No Senate vote on Cordray nomination until after Memorial Day recess

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

Further Setback for the CFPB Director’s Authority?

Senate appears to be nearing vote on Cordray renomination

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

CFPB Targets Auto Financing For Enforcement

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

Senators Raise Concerns About CFPB’s Data Collection

House Committee Refuses To Allow CFPB Director To Appear

Financial Services Legislative and Regulatory Update -- April 29‚ 2013

Director Cordray’s appearance at Senate Banking Committee hearing yields arbitration news

Financial Services Legislative and Regulatory Update -- April 22, 2013

Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans [Video]

Congressional Research Service issues two reports on Canning decision

CFPB issues third Semi-Annual Report

Buchheit: Cyprus Could Need a Second Bailout [Video]

Senate Banking Committee Approves Nominees For Top CFPB, SEC Spots

Financial Services Legislative And Regulatory Update -- March 25‚ 2013

Third Circuit hears oral argument in another NLRB case challenging recess appointments

Consumer Financial Protection Bureau Remains In Limbo

Financial Services Legislative And Regulatory Update -- March 18‚ 2013

Congressman questions implications of Canning for CFPB funding

No fireworks at Cordray nomination hearing

Financial Services Legislative And Regulatory Update -- March 11‚ 2013

DOJ fights back on recess appointments in Third Circuit

Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans [Video]

Buchheit: Cyprus Could Need a Second Bailout [Video]

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