Consumer Protection, Labor & Employment Law, Finance & Banking

More on CFPB employee vote to unionize

by Mark J. Furletti | Ballard Spahr LLP on 5/20/2013

As we reported last week, the National Treasury Employees Union (NTU) won an election to represent over 800 of the CFPB’s 1,200 employees. The vote was 378 in favor and 86 against....more

CFPB employees unionize

by Barbara S. Mishkin | Ballard Spahr LLP on 5/20/2013

According to a report from Politico, CFPB employees voted last week to join the National Treasury Employees Union, a federal union that also represents employees at other financial regulators, including the FDIC, OCC and SEC....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

Is Equifax Selling Your Salary Information?

by Jeff Ifrah on 3/11/2013

According to a recent NBC News report, Equifax, one of the three largest American credit reporting agencies, has assembled an enormous database containing employment and salary information for more than 190 million U.S....more

Will the CFPB Take on the Regulation of Retirement Savings Plans?

by Daniel A. Nathan | Morrison & Foerster LLP on 2/26/2013

According to a recent Bloomberg report, the Consumer Financial Protection Bureau is considering whether it should take a role in helping Americans manage their retirement savings. CFPB Director Richard Cordray told a...more

D.C. Circuit’s Invalidation of President Obama’s Recess Appointments Raises Questions Concerning Actions Taken by the Consumer...

by King & Spalding on 2/8/2013

The D.C. Circuit’s Decision in Noel Canning - On January 25, 2013, the U.S. Court of Appeals for the D.C. Circuit held that President Obama’s recess appointments to the National Labor Relations Board (NLRB) were...more

DC Court of Appeals Decision May Impact CFPB Powers and Authority

by Jeffrey M. Werthan | Katten Muchin Rosenman LLP on 2/7/2013

A recent decision by a three-judge appellate panel of the US Court of Appeals for the District of Columbia Circuit (DC Circuit) may hold the key to whether, and to what extent, actions taken by Richard Cordray as the Director...more

New Year Brings New FCRA Forms for Employers and Possibly Additional Notification Requirements

by Lisa E. Cleary, Nivritha Ketty, Adam Pinto, Catherine A. Williams | Patterson Belknap Webb & Tyler LLP on 2/7/2013

The Consumer Financial Protection Bureau (CFPB), the primary enforcer of the Fair Credit Reporting Act (FCRA) rang in the new year by issuing new forms for users of consumer reports. Copies of the forms that went into effect...more

D.C. Circuit Declares President Obama’s NLRB Recess Appointments Unconstitutional

by BuckleySandler LLP on 2/4/2013

On January 25, the U.S. Court of Appeals for the D.C. Circuit held that appointments to the National Labor Relations Board (NLRB) made by President Obama in January 2012 during a purported Senate recess were unconstitutional,...more

NLRB Plans to Ignore D.C. Circuit Ruling Invalidating Obama Recess Appointments; Validity of Appointment of Richard Cordray as...

by Christopher L. Maberry, Nancy Morrison O'Connor | Bracewell & Giuliani LLP on 1/29/2013

In what appears to be the continuation of a showdown among the three branches of federal government, the D. C. Circuit ruled today that President Obama's January 2012 "recess" appointments of three members to the National...more

Cordray Renominated as Bureau’s Director, But Court Ruling Jeopardizes His Recess Appointment and Bureau’s Powers

by Timothy S. Crisp | Foley & Lardner LLP on 1/28/2013

It’s been the best of times and the worst of times for Richard Cordray this week. First, President Obama renominated Cordray to be the Consumer Financial Protection Bureau’s (the Bureau) director on January 24, 2013....more

Court Decision Jeopardizes CFPB Nominee

by John Dodge | Davis Wright Tremaine LLP on 1/28/2013

On Friday, January 25, 2013, a three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit struck down as unconstitutional President Obama’s 2012 “recess appointments” of three members of the National...more

Legal Alert: Court Finds President's Recess Appointments to NRLB Unconstitutional

by FordHarrison on 1/25/2013

Executive Summary: A three-judge panel of the D.C. Circuit Court of Appeals has held that President Obama's recess appointment of three members to the National Labor Relations Board (NLRB) violated the U.S. Constitution. ...more

Employers Should Use Revised FCRA Disclosure for Employees and Job Applicants

by Keith Barnett, Thomas Bundy, III, Knox Dobbins, Peter Farley, Jaliya Stewart Faulkner, Allegra Lawrence-Hardy, Jason Stone, Mark Thibodeaux, Annette Tripp, Gail Westover | Sutherland Asbill & Brennan LLP on 1/16/2013

Employers who use consumer reports as part of their decision-making process in the hiring, promotion or firing of employees should note the attached “A Summary of Your Rights under the Fair Credit Reporting Act” issued by the...more

New Federal Agency Rings In The New Year With New FCRA Background Check Forms

by Katherine Rand | Pierce Atwood LLP on 1/14/2013

Employers that use third parties to perform background checks on applicants or employees must start using new Fair Credit Reporting Act (FCRA) forms immediately. The new Consumer Financial Protection Bureau, which is...more

Employers Must Use Revised FCRA Notices

by Jeri Abrams, Joseph Fischetti | Lowenstein Sandler LLP on 1/10/2013

Employers that use the services of a consumer reporting agency (e.g., a third-party vendor) to conduct background checks on their prospective or current employees must now use an updated “Summary of Rights” form to notify...more

Background Checks: Updated “Summary of Consumer Rights” Required Under Fair Credit Reporting Act

by Timothy Sarsfield | Thompson Coburn LLP on 1/9/2013

Start the new year out right by using the updated “Summary of Consumer Rights” form, required as of January 1, 2013, to comply with the Fair Credit Reporting Act (“FCRA”). Even if you updated your form earlier in 2012, you...more

Legal Alert: Employers Must Be Prepared To Use Revised FCRA Forms Beginning January 1, 2013

by Frederick L. Warren | FordHarrison on 12/21/2012

Beginning January 1, 2013, employers must use the revised forms issued by the Consumer Financial Protection Bureau (CFPB) in November 2012 to conduct background checks under the Fair Credit Reporting Act (FCRA). ...more

Mortgage Banking Update - December 14, 2012

by Paul Apicella, Stefanie Jackman, Alan S. Kaplinsky, Barbara S. Mishkin, Brian D. Pedrow, Christopher J. Willis | Ballard Spahr LLP on 12/14/2012

In This Issue: - CFPB Monitor Named to the ABA Journal Annual Blawg 100 List - Temporary CONGRESS PASSES LEGISLATION TO FIX CFPB PRIVILEGE WAIVER PROBLEM - CFPB DESCRIBES PLANS FOR COORDINATING WITH STATE...more

It’s Time For Employers To Update Their FCRA Forms

by Michael N. Morea | Cole Schotz on 12/13/2012

By January 1, 2013, employers who conduct background checks on applicants or employees will be required to use the updated Fair Credit Reporting Act (“FCRA”) forms. ...more

CFPB’s Most Recent Changes to FCRA Forms May Foreshadow Active Oversight of Employers

by Paul Apicella, Brian D. Pedrow | Ballard Spahr LLP on 12/1/2012

The Consumer Financial Protection Bureau (CFPB) has issued another reminder that, effective January 1, 2013, it will assume responsibility for enforcing the Fair Credit Reporting Act (FCRA). Earlier this year, the CFPB...more

eTrends - By January 1, 2013, FCRA Forms Must be Updated

by Susan Milner Parrott | Smith, Anderson, Blount, Dorsett, Mitchell &... on 11/30/2012

By January 1, 2013, employers and consumer reporting agencies must use revised, updated forms for certain notices required by the Fair Credit Reporting Act (FCRA). The revisions indicate that the recently created Consumer...more

Corrected Forms from Consumer Financial Protection Bureau

by Stephen R. Woods | Ogletree, Deakins, Nash, Smoak & Stewart,... on 11/28/2012

As discussed in an earlier blog post, the Consumer Financial Protection Bureau (CFPB) — which now has the responsibility of enforcing the federal Fair Credit Reporting Act (FCRA), a role previously held by the Federal Trade...more

New Forms for FCRA Background Checks Effective January 1, 2013

by Duane Morris LLP on 11/5/2012

A relatively new federal agency, the Consumer Financial Protection Bureau ("CFPB"), created as part of the Dodd-Frank Act of 2010, has replaced the Federal Trade Commission ("FTC") as the primary rulemaking and enforcement...more

Mortgage Banking Update - November 02, 2012

by Ballard Spahr LLP on 11/2/2012

In This Issue: - CFPB and FHFA Begin Developing Nationwide Mortgage Database - Federal Court Finds County Recorder's Office Has Standing To Pursue Claims Against MERS - CFPB Issues Final Debt Collection Larger...more

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Consumer Protection › Labor & Employment Law › Finance & Banking