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Read Consumer Protection updates, news, and legal commentary from leading lawyers and law firms:

Belgian Financial Regulator's Tightening of Investor Protection Against Unfair Contract Terms

by Jones Day on

On 6 February 2017, Belgium's financial regulator (Belgian Financial Services and Markets Authority ("FSMA")) moved to fortify the protection of investors, publishing a position paper ("Position Paper") on the application of...more

RISK: To Retain or Not Retain in Sukuk?

by King & Spalding on

Introduction - 17 C.F.R. Part 246, adopted jointly by the United States Securities and Exchange Commission (the “SEC”) and other federal agencies in October of 2014 (the “U.S. Risk Retention Rule”) was adopted in response...more

"E-Commerce in India on the Rise"

Despite the headwinds facing Indian e-commerce start-ups, some of which had irrational cost structures and business models based solely on discounts, the overall success and potential of this sector, as well as its...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - CFPB Proposes to Provide Flexibility in Collecting Information - On March 24, 2017, the Consumer Financial Protection Bureau ("CFPB") released a proposal to amend Equal Credit...more

A Money Laundering Nightmare: Western Union Ponies Up $770 Million to Settle with DOJ, FTC and FinCEN

by Michael Volkov on

Earlier this year, in January 2017, Western Union entered into a Deferred Prosecution Agreement with the Justice Department and the FTC, and agreed to pay $586 in forfeiture to settle anti-money laundering and consumer fraud...more

Market Solutions, Volume 26, No. 1

by Morrison & Foerster LLP on

Sanctions: Will the Trump Administration Stay the Course? President Trump made many statements during the campaign regarding actions he plans to take to reverse Obama administration sanctions policies. These included...more

Indonesia Implements a Safe Harbor Policy for E-Commerce (Marketplace) Platforms

by White & Case LLP on

In light of rapid developments in the e-commerce industry in Indonesia, the Ministry of Communication and Informatics ("MOCI") issued Circular Letter No. 5 of 2016 on the Limitations and Responsibilities of Platform Providers...more

KL Snapshot #12 – Janvier-Février 2017

Banque & Finance – Hubert de Vauplane - Rapport Terra Nova : Les conflits d'intérêts, nouvelle frontière de la démocratie de février 2017 - Hubert De Vauplane a été auditionné le 20/03/15 dans le cadre de la...more

EU/U.S. Covered Agreement: What’s Next?

by Hogan Lovells on

On January 13, 2017, representatives of the European Union and the United States of America issued a joint statement announcing that they had successfully concluded negotiation of an agreement (the “Agreement” or “Covered...more

UK Regulation Round Up - January 2017

by Proskauer Rose LLP on

Welcome to the UK Regulation Round Up, a regular bulletin highlighting the latest developments in UK regulation for alternative asset managers. The start of 2017 saw a number of regulatory developments including...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The CFPB has ordered UniRush (purveyor of the RushCard prepaid debit card) and its payment processor, MasterCard, to fork over $13 million in fines after a breakdown last year that blocked thousands of customers from...more

Algorithms and bias: What lenders need to know

by White & Case LLP on

The algorithms that power fintech may discriminate in ways that can be difficult to anticipate—and financial institutions can be held accountable even when alleged discrimination is clearly unintentional....more

UK Financial Conduct Authority Seeks Input in Developing its Future Strategy

by Shearman & Sterling LLP on

The Financial Conduct Authority launched a consultation on its approach to regulation. The consultation document, entitled 'Our future mission', asks a number of questions about the FCA's approach to regulation and aims to...more

Receiver for payday lenders sued by CFPB files malpractice lawsuit

by Ballard Spahr LLP on

The court-appointed receiver for a group of interrelated companies sued by the CFPB in September 2014 for engaging in allegedly unlawful online payday lending activities has filed a malpractice lawsuit against the law firm...more

CFTC Issues Cross-Border Proposal

by Morrison & Foerster LLP on

On October 11, 2016, the U.S. Commodity Futures Trading Commission (“CFTC”) issued proposed rules to address certain issues related to the cross-border application of Title VII of the Dodd-Frank Wall Street Reform and...more

UK Financial Conduct Authority Fines Aviva for Client Asset and Money Failings

by Shearman & Sterling LLP on

The Financial Conduct Authority published the final notice issued to Aviva Pension Trustees UK Limited and Aviva Wrap UK Limited, fining the firms £8,246,800 for failing to have adequate controls and oversight arrangements to...more

UK Payment Systems Regulator Designates BACS Current Account Switching Service as an Alternative Arrangement

by Shearman & Sterling LLP on

The UK Payment Systems Regulator published a decision designating the Current Account Switch Service operated by BACS Payment Schemes Limited as an alternative arrangement under the Payment Accounts Regulations 2015...more

Financial Services Report, Fall 2016

by Morrison & Foerster LLP on

Editor’s Note - So much for summer! The weather is cooling, the kids are back to school, and we better not see you wearing white so long after Labor Day! For those of you having a little trouble getting back in the...more

Orrick's Financial Industry Week In Review

Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more

Your daily dose of financial news - The Brief – 7.20.16

by Robins Kaplan LLP on

We’ve heard about VW’s $15 billion settlement to resolve US claims by owners and regulators, but a spate of recent state AG-led actions shows that the fallout from the emissions cheating scandal is far from over. NY, MA, and...more

Banks Speak: LIBOR Plaintiffs Are Not Efficient Enforcers Of Antitrust Laws

As our loyal readers know, on May 23, 2016, the Second Circuit issued a decision in the In re: LIBOR-Based Financial Instruments Antitrust Litigation vacating the District Court’s prior decision dismissing one case in this...more

Banking Disputes Quarterly Q2 2016

by DLA Piper on

Welcome to the latest edition of our Banking Disputes Quarterly, designed to keep you up to date with the latest news and legal developments and to inform you about future developments that may affect your practice....more

Orrick's Financial Industry Week in Review

SEC Adopts Trade Acknowledgment and Verification Rules for Security-Based Swap Transactions - On June 8, 2016, the Securities and Exchange Commission publicized the implementation of "rules that will establish timely and...more

Financial Services Weekly News - June 2016 #3

by Goodwin on

Regulatory Developments - OFAC Updates Frequently Asked Questions Regarding Lifting Sanctions on Iran - On June 8, the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) updated its...more

Corporate and Financial Weekly Digest - Volume XI, Issue 22

BROKER-DEALER FINRA - Issues Guidance With Respect to Stop Orders and Volatile Market Conditions - On May 26, FINRA issued guidance encouraging firms to review their policies with respect to the use of stop orders...more

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