Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
Is Edward Snowden a Whistleblower?
Unique Privacy Concerns for Mobile Apps
Instapundit: America's IP Laws Need to be "Pruned Back"
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
On June 10, Florida enacted SB 282, which amends the Florida Consumer Finance Act to increase by $1,000 the tiered principal amounts subject to maximum allowable interest rates....more
In prepared remarks given on June 11, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray summarized the CFPB’s preliminary report on the overdraft practices of banks and other financial institutions....more
June 19 (Bloomberg) -- Lawyers may object to disclosing how much they actually collect per hour from non-bankrupt clients, as Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on...more
The House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held its second hearing yesterday focused on the CFPB’s ability to repay/qualified mortgage rule. At the first hearing in...more
On June 7, the CFPB published a loan originator rule compliance guide and a mortgage servicing rules compliance guide....more
Overdraft fees—many of them encouraged and generated through unfair and deceptive practices—cost consumers billions of dollars each year. Overdrafts are a particular problem when consumers use a debit card to make purchases...more
CFPB Director Richard Cordray was among the speakers at a program last week celebrating the fifth anniversary of the Philadelphia Residential Mortgage Diversion Program....more
On June 11, the CFPB released a white paper with initial findings from its study of bank and credit union overdraft practices. ...more
This week, Maine enacted a bill to simplify the state’s credit reporting law....more
The CFPB’s leadership ‘brain drain” seems to be continuing, with Politico reporting that Richard Hackett, the Bureau’s Assistant Director for installment and liquidity lending markets, is planning to leave the CFPB later this...more
On June 5, the FTC announced that it has added a payment processor as a defendant in an existing suit against a debt relief firm that the FTC alleges operated a credit card interest rate reduction scam....more
Tomorrow, June 18, the House Financial Services Committee will hold a hearing on “CFPB Budget Review.” According to the memo to Committee members from Committee Majority Staff, the hearing “will examine the past and planned...more
In This Issue:
Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings.
Excerpt from Leading the Past Week -
Once again, the markets and Congress came together to offer an...more
Have you been wondering whether the Consumer Financial Protection Bureau (“CFPB”) is focusing its enforcement efforts on the Real Estate Settlement Procedures Act (“RESPA” or “Act”)? After the public announcement of two...more
On June 6, the CFPB released a notice and request for comment on its plan to conduct a new survey related to its ongoing study of arbitration agreements....more
The CFPB recently filed an enforcement complaint and stipulated judgment against a Florida-based debt services company, which represents the first of its kind alleging that the company is liable under Dodd Frank and the...more
On June 4, New York Attorney General Eric Schneiderman (AG) announced a lawsuit against a major financial institution for allegedly violating state law by failing to timely file in foreclosure cases “requests for judicial...more
On June 4, the CFPB released new TILA and ECOA examination procedures, which were updated to incorporate certain of the CFPB mortgage rules finalized in January 2013 that address appraisals, escrow accounts, and mortgage loan...more
In this presentation:
- Tax-Exemption Challenges
- Bankruptcy Counseling Challenges
- Consumer Protection Statutes
- Excerpt from Presentation:
How did we get here?
- Federal and...more
Defendants allegedly adopted a uniform practice designed to maximize fees assessed on delinquent borrowers’ accounts.
As part of the scheme, Defendants “formed an enterprise with their respective subsidiaries, affiliates,...more
SIX FORMER BOA EMPLOYEES TESTIFY THAT BOA MODIFICATION AND FORECLOSURE SPECIALISTS WERE PAID AND INSTRUCTED TO LIE TO HOMEOWNERS, PAID WITH GIFT CARDS IF THEY SUCCESSFULLY THREW THE HOMEOWNER INTO FORECLOSURE AND WERE...more
Addressing an important issue that the U.S. Supreme Court will decide in the next few weeks, the Supreme Judicial Court of Massachusetts has held that a court may invalidate an arbitration agreement that contains a class...more
The CFPB and Federal Deposit Insurance Corporation have jointly launched a new financial resource tool to assist older adults and their caregivers in avoiding elder financial exploitation. Named “Money Smart for Older...more
On June 3, AG Schneiderman announced an agreement with a credit card issuer to resolve an investigation into alleged consumer protection concerns arising from the offering of credit cards through medical care providers. ...more
The CFPB’s website now has a regulatory implementation page that provides “one stop shopping” for all of its 2013 mortgage rules and related implementation materials....more
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