Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
Spitzer: Lanny Breuer at DOJ Was a "Disaster"
Compliance Advice on SEC’s Market Access Rule from Julie Dixon of Titan Regulation
Lawyer: European M&A Could Rise Despite Risks
Bill on Bankruptcy: Complaint Claims Judge Is a Bigot
Ex-Kirkland Partner: Rainmakers Are Paid Too Much
Dewey's Bankruptcy Lawyer: More Large Law Firms Will Fail
Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk
License to travel: how regulation is benefiting business abroad
Greenberger: Derivatives Legislation Would Seriously Weaken Dodd-Frank
Bill on Bankruptcy: Lehman Test Case on Judicial Nullification
S&C's Cohen: Brown-Vitter Punishes Banks For Being Big
Cohen: Cyprus Is Not A Template For Future Restructurings
Release of new book on the 'Best Practices Under the FCPA and Bribery Act"
Buying and Selling Businesses in Today's Economy, Stephen Opler
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Deloitte: Turnarounds and Democracy Don't Mix
Lessons Learned from the Parker Drilling DPA and Ralph Lauren NPA
Zimmermann: Up to 20% of AmLaw 200 "Badly Weakened"
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
In This Issue: - New Suits Filed as Credit Card Swipe Fee Settlement Deadline Looms - Sec. Lew Tells Senate Committee of Plans to Accelerate Dodd-Frank - New Mortgage Rule to Block Access to Credit, Witnesses...more
Regulators and congressional leaders have identified similarities between the lending practices that led to the subprime mortgage crisis and an escalating default rate in the burgeoning level of student loan debt. Rather...more
On May 8, the CFPB issued a report regarding student loan affordability and related policy issues. The report summarizes and analyzes public responses to the CFPB’s request for information and discusses policy options for...more
As we predicted at last week’s meeting of the National Council of Higher Education Resources’ Private Student Loan Committee, the CFPB field hearing held last Wednesday in Miami was devoted to student loan affordability. In...more
On April 30, the CFPB published policy recommendations for advancing K-12 financial education. The paper, “Transforming the Financial Lives of a Generation of Young Americans,” identifies perceived problems for young people...more
In remarks given earlier this week at the Investing in Our Future Conference in Washington, D.C., Director Cordray spoke about the need to make financial education a part of the school curriculum for the nation’s children and...more
On April 18, the CFPB announced a field hearing about student loan issues, to be held in Miami-Dade County on May 8, 2013. The CFPB has not yet announced witnesses but has stated the event will feature remarks from CFPB...more
UniversityThe CFPB has announced that on May 8, 2013, it will hold a field hearing in Miami-Dade County, Florida on student loan borrowers. CFPB Director Richard Cordray will be giving remarks at the event....more
April 18 (Bloomberg) -- Why and when U.S.-managed hedge funds can go bankrupt in the Caribbean, not in the U.S., is the first item discussed on the new bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg...more
On March 28, the CFPB released tens of thousands of consumer complaints related to mortgages, student loans, bank accounts and services, other consumer loans, and credit cards. Credit reporting complaints, will be released in...more
The Consumer Financial Protection Bureau has announced its intention to oversee the nation's largest nonbank loan servicers, which service more than one million accounts each year, in the higher education loan market. While...more
On March 14, the CFPB proposed a rule that would allow it to federally supervise certain nonbank student loan servicers. ...more
On Thursday, March 14, 2013, the Consumer Financial Protection Bureau (the "CFPB") propoed, pursuant to Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, a rule that would identify a market for student...more
The CFPB has issued a proposal to supervise nonbank student loan servicers who qualify as “larger participants” in the student loan servicing market. The CFPB already supervises student loan servicing by larger banks. It also...more
In this issue: - What to Expect When You're Under a CFPB Investigation – Negotiating the Scope of the CID - CFPB Initiative to Promote Student Loan Payment Plans - Consumer Complaints Offer Insight into...more
On February 21, the CFPB Student Loan Ombudsman issued a notice and request for information regarding policy options to “increase the availability of affordable payment plans for borrowers with existing private student...more
The Consumer Financial Protection Bureau believes positive financial decision making should be learned at a young age. The Bureau recently issued a Request for Information Regarding Financial Products Marketed to Students...more
The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more
In April 2102, the CFPB issued a bulletin to confirm that it plans to apply a disparate impact test in exercising its supervisory and enforcement authority under the Equal Credit Opportunity Act (ECOA) and Regulation B. The...more
Last week, the CFPB muscled its way on campus, announcing that it will be looking at the impact of financial products marketed to students through their colleges and universities....more
Earlier this week, the CFPB published in the Federal Register a request for comments on its plans to submit a request to the Office of Management and Budget for generic clearance of an information collection to assist the...more
Jan. 10 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia runs through the legal news for the week. A major settlement between Fannie Mae and several large banks has resulted in many lawyers suddenly finding themselves...more
The Consumer Financial Protection Bureau (“CFPB”) has released procedures it will use in examining student lenders. The Student Lending Examination Procedures, available here, set forth the CFPB’s examination objectives and...more
On December 17, the CFPB released its Student Lending Examination Procedures, which are an extension of the CFPB’s General Supervision and Examination Manual and will be used as a field guide by CFPB examiners to review...more
The CFPB has issued its examination procedures for student lenders. The procedures will be used by the CFPB’s examiners in examinations of large banks that make private student loans (meaning banks with total assets of more...more
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