Tax Law, Finance & Banking, Consumer Protection

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/13/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - What had been a relatively quiet week, where until Friday it seemed...more

CFPB Finalizes Revisions to Remittances Rule, Sets October 28 Effective Date

by Alan S. Kaplinsky, Jeremy T. Rosenblum, Mercedes Kelley Tunstall | Ballard Spahr LLP on 5/8/2013

The Consumer Financial Protection Bureau has finalized revisions to its remittance transfers rule and set October 28, 2013, as the rule’s new effective date. While not entirely eliminating the requirement for remittance...more

CFPB Modifies Foreign Remittance Rules And Sets New Effective Date

by Joseph D. Simon | Cullen and Dykman LLP on 5/6/2013

The Consumer Financial Protection Bureau (“CFPB”) has revised its previously issued rules on foreign remittance transfers to ease some of the disclosure concerns raised by financial institutions. The revised rules, which are...more

Virtual Currency: Recent Federal Regulatory Considerations

by Timothy R. McTaggart, Matthew R. Silver | Pepper Hamilton LLP on 5/2/2013

Bitcoin is a virtual currency – it has no physical form in paper or metal and is not connected with any central bank or governmental authority. It is freely tradable via the internet or other electronic means. Transactions in...more

Attorney General Prevails In Lawsuit Against Income Tax Preparation Company

by June D. Coleman, Danielle Teeters | Kronick, Moskovitz, Tiedemann & Girard on 2/22/2013

The Attorney General brought a lawsuit against an income tax preparation business alleging violations of state and federal lending, consumer protection, unfair competition, and false advertising laws. The court of appeal...more

Orrick's Financial Industry Week in Review - January 28, 2013

by Orrick, Herrington & Sutcliffe LLP on 1/30/2013

In This Issue: *Financial Industry Developments - CFPB Rule on Originator Compensation - Treasury and IRS FATCA Regulations - Rating Agency Developments *Recent Orrick Alerts - Derivatives Reform in...more

CFPB Proposes Revisions to Rules on International Money Transfers by Consumers

by Thomas I. Elkind | Foley & Lardner LLP on 1/18/2013

The Consumer Financial Protection Bureau (CFPB) recently issued proposed changes to the rule it originally proposed on January 20, 2011, governing certain electronic money transfers by consumers that was required by the...more

‘Tis The Season To Be WARY!

by Win Mims | Jeff Field & Associates on 1/14/2013

Tax season is on us once again and many are thinking about how to make the best use of any tax refund to pay down their obligations. Be aware: scammers are out there and are plotting strategies to separate you from your...more

CFPB Proposed Amendment to Rule on Remittance Transfers

by Orrick - Structured Finance Group on 1/10/2013

On December 21, 2012, the CFPB issue a proposed amendment to subpart B of Regulation E under the Electronic Fund Transfer Act regarding remittance transfers....more

Bureau Proposes Further Revisions to Remittance Transfer Rules

by Andrew Owens | Davis Wright Tremaine LLP on 1/4/2013

On December 31, 2012, the Consumer Financial Protection Bureau (“Bureau”) published in the Federal Register revisions (“Proposal”) to rules on international remittance transfers that the agency published in February 2012 and...more

CFPB proposes changes to remittance transfer rule and delay in effective date

by Ballard Spahr LLP on 12/27/2012

The CFPB has issued a proposal to make revisions to the remittance transfer rule and delay the rule’s effective date. The CFPB had announced its plans to make the proposal in a bulletin it issued in November....more

IRS, Taxes – Mortgage Forgiveness Debt Relief Act Expiring! Key Facts 6 – 10

by Jason McGrath on 12/6/2012

IRS, taxes - Mortgage Forgiveness Debt Relief Act expiring! Key facts 6 to 10 regarding mortgage loan modification principal balance reduction & tax implications....more

CFPB Issues Affinity Credit Card Report to Congress: How Nonprofits Can Minimize Their Legal and Tax Risk

by Audra J. Heagney, Jonathan L. Pompan, Jeffrey S. Tenenbaum | Venable LLP on 11/21/2012

Affinity credit cards continue to be significant revenue generators for colleges and universities (and their affiliated organizations), associations and many other types of nonprofit organizations. The federal Consumer...more

Bill on Bankruptcy: Solyndra, Lehman, MF Global, ATP Oil, LSP Energy, Want Ads [Video]

by Bloomberg Law on 10/24/2012

Oct. 24 (Bloomberg Law) -- The controversial approval of the Chapter 11 plan for solar-panel maker Solyndra LLC is the first topic on this week's Bloomberg bankruptcy video. For the second item, Bloomberg Law's Lee...more

Pennsylvania Supreme Court Rejects Class Certification in Consumer Financial Services Case

by Ballard Spahr LLP on 9/12/2012

The Pennsylvania Supreme Court has unanimously reaffirmed the principle that consumer claims requiring fact-intensive, individualized inquiries are not amenable to class certification. In Basile v. H&R Block, Inc., decided on...more

Proactive Strategies for Minimizing Legal Risks in Providing Credit Counseling and Related Services

by Venable LLP on 5/11/2012

Introduction - Federal and state laws governing consumer credit counseling agencies continue to evolve and create potential pitfalls and new compliance requirements. - In response, the industry has responded with...more

Regulatory Watch List for 2012: The Shifting Landscape for Hedge Funds and Other Private Funds

by Sutherland Asbill & Brennan LLP on 2/8/2012

The Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), which was adopted in July 2010 with the goals of reducing risk, increasing transparency and promoting market integrity within the...more

Understanding how Value Added Tax (VAT) is applied in the Democratic Republic of Congo

by JOSEPH YAV KATSHUNG on 1/10/2012

Almost unknown in 1960, the value added tax (VAT) is now found in several countries, raises around 20 percent of the world’s tax revenue, and has been the centerpiece of tax reform in many developing countries including the...more

How long does the IRS have to collect taxes owed?

by George Bourguignon on 1/4/2012

If you have an outstanding tax debt and are curious if it can still be collected or if you want to know more about how long the IRS has to collect a tax, then you may want to take a look at this post! Contact: George E....more

Understanding how Value Added Tax (VAT) is applied in the Democratic Republic of Congo

by JOSEPH YAV KATSHUNG on 1/1/2012

Almost unknown in 1960, the value added tax (VAT) is now found in more than 130 countries, raises around 20 percent of the world’s tax revenue , and has been the centerpiece of tax reform in many developing countries...more

New House Hearing Shows Strength of Hill Support for Legal Online Gaming

by Jeff Ifrah on 11/28/2011

On Nov. 18, 2011, the House Energy and Commerce Committee Subcommittee on Commerce, Manufacturing, and Trade held its second hearing on the legalization of online gaming. The subcommittee had held an initial hearing on the...more

Legal and Regulatory Myths Debunked for Credit Counseling Agencies

by Venable LLP on 11/15/2011

Introduction -- Federal and state laws governing consumer credit counseling agencies continue to evolve and create potential pitfalls and new compliance requirements. -- In response, the industry has responded with...more

Payroll Taxes and the Internal Revenue Service (IRS)

by George Bourguignon on 3/2/2011

Business owners who are behind on paying their payroll taxes may find themselves in a big mess. The IRS requires employers to withhold money from their employees’ paychecks that those employees owe or will owe the government...more

Best to Avoid Tax Refund Anticipated Loans

by Darrin Mish, Tampa Tax Attorney on 2/4/2011

Many taxpayers who want to get their tax refunds early resort to taking up Refund Anticipated Loans or RALs from tax preparers. These refunds come in the form of checks or gift debit cards. Similar to payday loans, RALs are...more

Debt Settlement or Bankruptcy

by Peter Grain on 1/21/2011

10 Tips for Debt Settlement...more

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Tax Law › Finance & Banking › Consumer Protection

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

CFPB Finalizes Revisions to Remittances Rule, Sets October 28 Effective Date

CFPB Modifies Foreign Remittance Rules And Sets New Effective Date

Virtual Currency: Recent Federal Regulatory Considerations

Attorney General Prevails In Lawsuit Against Income Tax Preparation Company

Orrick's Financial Industry Week in Review - January 28, 2013

CFPB Proposes Revisions to Rules on International Money Transfers by Consumers

‘Tis The Season To Be WARY!

CFPB Proposed Amendment to Rule on Remittance Transfers

Bureau Proposes Further Revisions to Remittance Transfer Rules

CFPB proposes changes to remittance transfer rule and delay in effective date

IRS, Taxes – Mortgage Forgiveness Debt Relief Act Expiring! Key Facts 6 – 10

CFPB Issues Affinity Credit Card Report to Congress: How Nonprofits Can Minimize Their Legal and Tax Risk

Bill on Bankruptcy: Solyndra, Lehman, MF Global, ATP Oil, LSP Energy, Want Ads [Video]

Pennsylvania Supreme Court Rejects Class Certification in Consumer Financial Services Case

Proactive Strategies for Minimizing Legal Risks in Providing Credit Counseling and Related Services

Regulatory Watch List for 2012: The Shifting Landscape for Hedge Funds and Other Private Funds

Understanding how Value Added Tax (VAT) is applied in the Democratic Republic of Congo

How long does the IRS have to collect taxes owed?

Understanding how Value Added Tax (VAT) is applied in the Democratic Republic of Congo

New House Hearing Shows Strength of Hill Support for Legal Online Gaming

Legal and Regulatory Myths Debunked for Credit Counseling Agencies

Payroll Taxes and the Internal Revenue Service (IRS)

Best to Avoid Tax Refund Anticipated Loans

Debt Settlement or Bankruptcy

Bill on Bankruptcy: Solyndra, Lehman, MF Global, ATP Oil, LSP Energy, Want Ads [Video]

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