Infobytes - A Weekly In-depth review of news & developments in the financial services industry - April 5, 2013

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In This Issue:

- FEDERAL ISSUES

- STATE ISSUES

- COURTS

- MISCELLANY

- FIRM NEWS

- MORTGAGES

- BANKING

- CONSUMER FINANCE

- SECURITIES

- PAYMENTS

- Excerpt from Payments:

CFPB Announces Collection of Money Transfer Complaints. On April 4, the CFPB announced that it is collecting money transfer complaints. Although the CFPB previously was accepting some complaints about money transfers under the "bank account" topic in its complaint system, it now has a complaint portal dedicated to money transfer complaints. The system categorizes complaints as relating to: (i) money was not available when promised; (ii) wrong amount charged or received (transfer amounts, fees, exchange rates, taxes, etc.); (iii) incorrect/missing disclosures or information; (iv) other transaction issues (unauthorized transaction, cancellation, refund, etc.); (v) other service issues (advertising or marketing, pricing, privacy, etc.); or (vi) fraud or scam. The announcement does not indicate whether the money transfer complaints will be published in the recently expanded public database at this time.

Please see full Infobytes below for more information.

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Topics:  Amended Legislation, Antitrust Litigation, CFPB, Corporate Fraud, Diversity, DOJ, Enforcement Actions, Fannie Mae, Federal Reserve, FFIEC, Final Rules, FIRREA, Flood Insurance, Installment Agreements, Lenders, Libor, Money Transfer, Mortgages, National Mortgage Settlement, NCUA, SCRA, SEC

Published In: General Business Updates, Consumer Protection Updates, Finance & Banking Updates, Residential Real Estate Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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