InfoBytes, November 25, 2011 - A Weekly In-depth review of news & developments in the financial services industry


Topics In This Issue:

• Federal Issues

• Courts

• Firm News

• Mortgages

• Banking

• Consumer Finance

• Securities

• Litigation

Excerpt from Consumer Finance:

CFPB Seeks Comments on Collection of Information Regarding State Actions Pursuant to Dodd-Frank. On November 21, the Consumer Financial Protection Bureau (CFPB) published a notice and request for comment regarding its planned information collection activities with regard to legal actions filed by state officials pursuant to authority granted in section 1042(a) of the Dodd-Frank Act. Under that section of the Act, state attorneys general and state regulators have authority to bring legal actions against certain financial institutions to enforce provisions of Title X of the Act, or regulations promulgated under that title. CFPB issued an interim final rule in July 2011 establishing the notification procedures regarding action taken, as required by section 1042(c) of the Act. In the current notice, CFPB notes that the burden of providing such information falls on the state entities pursuing legal action, and the CFPB does not expect to make such information publicly available unless it already is made available by the state official reporting the action. Still, the CFPB is asking the public to provide comment on a number related issues, such as whether the collection of such information will have "practical utility" and "is necessary for the proper performance of the Bureau."

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

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.

© BuckleySandler LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »


BuckleySandler attorneys are among the leading financial services law practitioners in the country... View Profile »

Follow BuckleySandler LLP :

Reporters on Deadline

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.