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Read need-to-know updates, commentary, and analysis on Elections & Politics issues written by leading professionals.

D.C. Circuit Affirms Dismissal of Third-Party Presidential Candidates’ Antitrust Claims

On August 29, 2017, the D.C. Circuit affirmed the district court’s decision dismissing a suit filed by 2012 third-party presidential candidates Gary Johnson and Jill Stein, their running mates, their campaigns, and the...more

House Financial Services Committee details case for contempt proceedings against Director Cordray for failing to comply with...

by Ballard Spahr LLP on

A report by the majority staff of the House Financial Services Committee concludes that there is a “valid and factual basis” for instituting contempt of Congress proceedings against Director Cordray. The report states that...more

Controversial CFPB Rule Exposes Financial Services Companies to Greater Class Action Risk

by Holland & Knight LLP on

Under a controversial new final rule issued by the Consumer Financial Protection Bureau (CFPB) on July 10, 2017, banks and credit card companies are prohibited from forcing consumers into arbitration to avoid class action...more

MoFocus: Our Insights into the Risk + Crisis Landscape - Vol.1 Issue. 1

by Morrison & Foerster LLP on

What Companies Should Be Doing to Prepare for the Next Ransomware Attack - The “WannaCry” cyberattack that struck in May paralyzed businesses, government entities, and Britain’s National Health Service, encrypting computer...more

Private Needle Exchange Programs Do Not Require Local Approval: Massachusetts Supreme Judicial Court Weighs In

Last week, in a case being watched locally and nationally, the Massachusetts Supreme Judicial Court (“SJC”) ruled that local government approval is not required for the operation of a private needle exchange program and that...more

Financial Services Weekly News - April 2017 #4

by Goodwin on

Editor's Note - State Regulators Sue OCC Over Federal FinTech Charter. On April 26, the Conference of State Bank Supervisors (CSBS) sued the Office of the Comptroller of the Currency (OCC) in the U.S. District Court for...more

Revisiting the West Virginia Consumer Credit and Protection Act – Again

For the second time in two years, West Virginia’s legislature passes a bill to modify the state consumer protection law....more

Director Cordray Has Chance to Retain Power and Autonomy

by Miles & Stockbridge P.C. on

The U.S. Court of Appeals for the District of Columbia Circuit Court issued its decision in PHH Corporation v. Consumer Financial Protection Bureau in October, 2016, holding that the Consumer Financial Protection Bureau...more

Consumer advocates are split on whether Director Cordray should finalize arbitration rule

by Ballard Spahr LLP on

On Monday, during “The CFPB Speaks” panel I moderated that was part of the Practicing Law Institute’s 22nd Annual Consumer Financial Services Institute in Manhattan, Diane Thompson, Deputy Assistant Director of the CFPB’s...more

Nutter Bank Report, February 2017

CFPB Fines Mortgage Lender for Violating the RESPA Anti-Kickback Rule The Consumer Financial Protection Bureau (“CFPB”) has taken enforcement action in the form of a consent order against a mortgage lender, including...more

Democratic lawmakers/ Democratic state AGs/ consumer advocacy groups seek reconsideration en banc of motions to intervene in PHH...

by Ballard Spahr LLP on

After the D.C. Circuit panel issued a per curiam order on February 2 denying the three motions to intervene that were filed in the PHH case, we expected the next development in the case to be a decision by the D.C. Circuit on...more

Lawmakers take sides on Director Cordray’s future; Senator Warren urges consumer advocates to defend CFPB

by Ballard Spahr LLP on

Battle lines over Director Cordray’s future at the CFPB are predictably forming along party lines. Earlier this week, two Republican senators sent a letter to Vice President-elect Pence urging Director Cordray’s removal by...more

Decision of U.S. Appeals Court and Election of Donald Trump Could Spell Doom for Power of CFPB

by Miles & Stockbridge P.C. on

The power and independence of the Consumer Financial Protection Bureau (“CFPB”), the federal agency created by the Dodd-Frank Act to facilitate reform in the financial services sector, may be threatened as a result of two...more

Ten Questions and Nine Answers about PHH and the Future of the CFPB Director

by Morrison & Foerster LLP on

The potentially explosive combination of the D.C. Circuit’s October decision in PHH v. CFPB and the outcome of the presidential election has spurred a host of questions about how the PHH litigation may proceed and about the...more

Members of Congress, consumer advocates file amicus briefs supporting CFPB’s petition for rehearing en banc in PHH case

by Ballard Spahr LLP on

A group of 21 current and former members of Congress and a group of 10 consumer advocacy organizations have filed amicus briefs in support of the CFPB’s petition filed with the D.C. Circuit seeking a rehearing of its decision...more

Consumer Financial Services Newsletter - November 2016

by Hinshaw & Culbertson LLP on

D.C. Circuit Delivers First Blow to CFPB, Trump Win Delivers Second - The future of the Consumer Financial Protection Bureau (CFPB) is up for grabs following a landmark Court of Appeals Decision, PHH Corporation v....more

Bi-partisan Congressmen seek arbitration safe harbor allowing class action waivers

by Ballard Spahr LLP on

Republican Congressman Randy Neugebauer, who chairs the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit, and Democratic Congressman W. Lacy Clay, the Subcommittee’s Ranking...more

Democratic lawmakers urge adoption of CFPB arbitration proposal

by Ballard Spahr LLP on

A total of 102 Democratic lawmakers, consisting of 37 Democratic Senators joined by Independent Senator Bernie Sanders and 65 House members, have signed on to letters sent to Director Cordray expressing support for the CFPB’s...more

House approves FY 2017 appropriations bill containing curbs on CFPB authority

by Ballard Spahr LLP on

By a vote of 239-185, the House of Representatives has approved a fiscal year 2017 appropriations bill that contains various provisions intended to curb the CFPB’s authority. Those provisions would fund the CFPB through the...more

Text of Dodd-Frank replacement bill released

by Ballard Spahr LLP on

Last month, Republican Congressman Jeb Hensarling, who chairs the House Financial Services Committee, released a summary of “The Financial CHOICE Act,” a bill to replace the Dodd-Frank Act. The summary indicated that the...more

Trump University Playbooks Get Trumped By Trade Secrets Law

by Dorsey & Whitney LLP on

Chances are over the last several days you’ve heard presidential-hopeful Donald J. Trump express his displeasure with a certain federal judge sitting on the bench in the U.S. District Court for the Southern District of...more

House FY 2017 appropriations bill would curb CFPB authority, require another arbitration study

by Ballard Spahr LLP on

The fiscal year 2017 appropriations bill approved last week by the House Financial Services and General Government Appropriations Subcommittee of the House Appropriations Committee includes the following provisions intended...more

House Financial Services Committee Scrutinizes Basis of Proposed CFPB Arbitration Rule

by Ballard Spahr LLP on

On Wednesday May 18, 2016, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit held a hearing entitled “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the...more

House to hold May 18 hearing on CFPB’s proposed arbitration rule

by Ballard Spahr LLP on

On May 18, 2016, the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit will hold a hearing entitled “Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the Public...more

House Financial Services Committee investigating CFPB arbitration rulemaking

by Ballard Spahr LLP on

On April 20, 2016, Congressman Sean Duffy sent a letter to Director Cordray indicating that the House Financial Services Committee is investigating “the examination and possible regulation by the [CFPB] of pre-dispute...more

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