Consumer Protection Updates

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FTC and DOJ Release Antitrust Guidance for HR Professionals

The Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice (DOJ) yesterday jointly issued guidance to human resource professionals and others involved in hiring and compensation decisions. This...more

Client Alert: CFPB’s Structure is Unconstitutional, D.C. Circuit Court Holds

Lenders and their attorneys have been closely monitoring the enforcement actions and rules promulgated by the Consumer Financial Protection Bureau or CFPB, which was created under the Dodd-Frank Act. The CFPB’s three goals...more

Guidelines for Privacy Certifications and Trustbrands

Privacy certifications, or “trustbrands,” are seals licensed by third parties for organizations to place on their homepage or within their privacy policy. The seals typically state, or imply, that the organization which has...more

MBA launches new networking platform for women

Women in the real estate financing sector have a new opportunity to connect with others in their field and to access and exchange information about the industry. On October 18, the Mortgage Bankers Association (MBA)...more

What You Need to Know About IRS Outstanding Inactive Tax Receivables

Legislation enacted in 12/15 (FAST ACT – Fixing America’s Surface Transportation Act)) required IRS to utilize private debt collection agencies to collect inactive federal tax debts. Starting SPRING 2017, IRS will use private...more

Price hikes and product hype: Big Pharma’s relentless push

Just how rapacious can Big Pharma be? Makers hype more drugs as nation faces opioid drug abuse epidemic - In the face of an epidemic of opioid painkiller abuse, the drug industry’s answer appears to be: push even...more

NYS Cyber Crack Down Looms: What Every Financial Institution, Insurer and Their Board Must Know

With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law. The regulation – which covers a...more

U.S. DOT Issues New Air Travel Consumer Protection Rulemaking Initiatives

The U.S. Department of Transportation (DOT) has announced a new round of consumer protection-related rulemaking initiatives affecting U.S. and foreign airlines, ticket agents, and air travel consumers. As part of these...more

HHS-OCR Announces Guidance On HIPAA Compliance And Cloud Computing

On October 6, 2016, the Department of Health and Human Services Office for Civil Rights (“OCR”) issued guidance on complying with HIPAA privacy, security, and breach notification rules when using cloud computing technology...more

Cyber Security and Loss Recovery - A New Alternative for Organizations

The largest data breaches ever have occurred since 2015, and targets have encompassed a wide spectrum of entities. Organizations affected range from U.S. DOJ and the IRS—where citizens’ personally identifying information was...more

Power Homes Remodeling Settles TCPA Class Action

On October 12, 2016, the United States District Court for the Eastern District of Pennsylvania issued final approval of the $5.2 million settlement, resolving a Telephone Consumer Protection Act (“TCPA”) class action lawsuit...more

How Can Yahoo E-Mail Scanning Impact the EU-U.S. Privacy Shield?

Reuters reported earlier this month that, according to three former employees, Yahoo Inc. had “complied with a classified U.S. government demand, scanning hundreds of millions of Yahoo mail accounts at the behest of the NSA...more

Coming Soon to a Lawbook Near You – New Cosmetic Requirements

Back in April 2015, Senators Dianne Feinstein (D-CA) and Susan Collins (R-ME) introduced the Personal Care Products Safety Act (S.1014). More recently, on September 22, 2016, the Senate Health, Education, Labor, and Pensions...more

Hensarling seeks assurance of CFPB compliance with limits on executive agencies

Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee, has sent a letter to Director Cordray asking him to provide written assurance by October 26, 2016 that, as a result of the D.C....more

FDIC Releases Revised MLA Exam Procedures and Sets Supervisory Expectations

On October 17, the FDIC released revised interagency Military Lending Act (MLA) examination procedures for use in connection with consumer credit transactions occurring on or after October 3, 2016. The revised procedures...more

Next Steps for Residential Lenders in Light of CFPB Approval to Collect Borrowers’ Disaggregated Ethnic and Racial Categories

Lending institutions can implement the use of disaggregated ethnic and racial categories in their home loan applications beginning January 1, 2017, an entire year ahead of HMDA’s original deadline. Overview: The CFPB has...more

CFPB Mortgage Servicing Rule Amendments Published in Federal Register

The CFPB Mortgage Servicing Rule Amendments were published in the Federal Register yesterday, starting the clock for the effective date of the amended provisions.  Most of the provisions are effective on October 19, 2017. ...more

SEC's Focus on Private Equity Firms Continues with Recent Action

A settled enforcement action, announced by the U.S. Securities and Exchange Commission (SEC) on September 14, 2016, continues the trend of increased SEC scrutiny of private equity advisers concerning the allocation and...more

Illinois District Court Denies Motion to Certify TCPA Class Action

In the consolidated cases Espejo v. Santander Consumer USA Inc., No. 11 C 8987, 2016 WL 6037625 (N.D. Ill. Oct. 14, 2016) and Levins v. Santander Consumer USA Inc., No. 12 C 9431, 2016 WL 6037 (N.D. Ill. Oct. 14, 2016), the...more

Hospitals Considering Merger Face Increased Uncertainty

PinnacleHealth System and Penn State Hershey Medical Center have abandoned their merger plans following a Third Circuit defeat last month. The announcement underscores the uncertainty faced by hospitals considering...more

PHH v. CFPB, Part I: President of Consumer Finance No More

In response to a challenge from mortgage servicer PHH Corp. regarding the constitutionality of the single director structure of the Consumer Financial Protection Bureau (the CFPB or Bureau), the United States Court of...more

Advertising Law - October 2016 #3

YouTube Adds Sponsored Content Notification Feature - To help influencers achieve compliance with the necessary disclosures about their relationships with advertisers, YouTube has unveiled a new tool to provide notice to...more

Naturally Misleading? Ninth Circuit Keeps “All Natural” Fruit Labeling Dispute Alive

Does a food label advertising a product as “all natural fruit” mislead consumers when that product contains artificial preservatives? That is the question presented in Brazil v. Dole Food Co. Inc., which the Court of Appeals...more

SEC Fines Fantasy Stock Market App Developer

The Securities Exchange Commission (“SEC”) recently fined New York-based Forcerank LLC (“Forcerank”) $50,000 in connection with charges that Forcerank’s fantasy stock market mobile app illegally offers complex derivative...more

New Tool in Calif. AG’s Privacy Enforcement Efforts: Consumers

California Attorney General Kamala Harris is enlisting new enforcers in her efforts to get companies to comply with the state’s privacy policy requirements: members of the public. On October 14, Harris released an online...more

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