Finance & Banking Wills, Trusts, & Estate Planning Consumer Protection

Read Finance & Banking Law updates, alerts, news, and legal analysis from leading lawyers and law firms:
News & Analysis as of

The Lehman Client Money Litigation

When it was placed into administration on the morning of 15 September 2008, Lehman Brothers International (Europe) (in administration) ("LBIE") could account for approximately $2.16 billion of money in its segregated client...more

CFPB Clarifies Heirs, Divorcees and Estate Planning Transferees Are Not Subject to Ability-to-Repay Rules

The CFPB issued an interpretive rule to clarify that when a borrower dies, the name of the borrower’s heir generally may be added to the mortgage without triggering the Bureau’s Ability-to-Repay rule. This clarification will...more

HUD To Insure Reverse Mortgages Protecting Non-Borrowing Spouses; Senators Seek Protections For Surviving Heirs

On April 25, HUD issued Mortgagee Letter 2014-07, which states that effective August 4, 2014, HUD will apply an alternative interpretation of Subsection 255(j) of the National Housing Act, which HUD has interpreted to limit...more

Elder Financial Abuse: Prevention and Remedies

I have written about elder financial abuse, and I will keep writing about it until stops. It is unfathomable to me that schemes to defraud the elderly are so pervasive. These seniors are attractive targets for financial...more

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

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

CFPB considering role in consumer investment arena

According to media reports, CFPB Director Cordray has indicated that the Bureau is considering whether it should take on a role in helping consumers manage their retirement investments and looking at its authority in this...more

Unlike a Ponzi victim, the only one left in a Tontine is sitting pretty.

In a Ponzi scheme, the last man loses. In a Tontine, on the other hand, the last man wins, like musical chairs. Here is a link to Charles E. Rounds, Jr.’s article on the common law aspects of the Madoff Ponzi scheme: ...more

Elder Financial Abuse

The Consumer Financial Protection Bureau is involved in providing financial protection against elder abuse; indeed, it is specifically tasked with that responsibility. The Bureau's Office of Older Americans is charged by the...more

"Seniors Beware!"

Recently the folks at a local newspaper forwarded to me a letter they received from a gentleman identifying himself as “a senior citizen, over 75”. The letter was entitled “Seniors Beware.” The writer...more

UPWords- May 2011- Prepaid Discount Vouchers: The Not-So-Final Frontier

The biggest challenge for unclaimed property practitioners is determining how new forms of property fit into unclaimed property laws. Recent technological and entrepreneurial innovations continue to challenge historic...more

3d DCA: Florida Fraudulent Transfer Barred by Statute of Limitations

A recent Florida 3d DCA case held that the statute of limitations on Florida fraudulent transfers begins to run when the transfer itself could be known, not when the fraudulent nature of the transfer could be known....more

Dodd-Frank Act Rulemaking Update: Proposal for Living Wills and Credit Exposure Reports

On March 29, 2011, the Federal Deposit Insurance Corporation (“FDIC”) approved a proposed rule, jointly written with the Federal Reserve Board of Governors (“FRB”),1 concerning resolution plans and credit exposure reports...more

FinCEN: Elder Abuse - Red Flags

On February 22, 2011, the Financial Crimes Enforcement Network (FinCEN) issued an advisory to assist the financial industry in reporting instances of financial exploitation of the elderly, a form of elder abuse. Financial...more

Physicians as Investment Fraud Targets

In uncertain times people derive a false sense of comfort doing in business with a personal or social contact or a member of their own religious or ethnic community. That comfort level is unfortunately replacing required...more

14 Results
|
View per page
Page: of 1

Follow Finance & Banking Updates on: