BuckleySandler LLP

1250 24th Street, NW Suite 700  Washington, D.C. 20037, United States

Contact: Ezra Crawford

  • 202•349•8000
  • 202•349•8080

NACHA’s Guidelines For Bill Payments Via QR Codes

NACHA, the Electronic Payments Association, has just taken a step towards easing consumer payments via mobile devices. The Council for Electronic Billing and Payment, a subsection of NACHA, released its 'Quick Response Encoding…more

Mobile Devices, NACHA, QR Codes

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SEC Cooperation Is Still More Art Than Science

The quest for individual cooperation credit from the U.S. Securities and Exchange Commission is more of an art than a science, involving outcomes based largely on subjective judgments and a process that resists definition and…more

Compliance, Corporate Counsel, Enforcement Actions, Investigations, Mary Jo White

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How to Handle a Government Investigation: 13 Things You Should You Do Immediately If the Government Comes Knocking

Actions you take, or don’t take, in the early hours of a government investigation can have costly and far-reaching consequences for a company. At the root of this is the importance of having a plan in place should your company…more

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The SAFE Act's Unlevel Playing Field, NonDepository Mortgage Lenders Face Much Steeper Compliance Costs Under the SAFE Act's Licensing Provisions

Since Congress passed the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the SAFE Act), mortgage loan originators and non-depository mortgage companies have learned that the promised uniformity of regulation…more

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Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

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Infobytes Special Alert: CFPB Finalizes Rule Combining TILA And RESPA Mortgage Disclosures

On November 20, 2013, the CFPB finalized its long-awaited rule combining the mortgage disclosures consumers receive under the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act (“RESPA”). For more than…more

CFPB, Dodd-Frank, HUD, Mortgage Servicing Rules, Mortgages

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CFPB’s New ‘‘Responsible Conduct’’ Guidelines: Will They Incentivize Greater Self-Reporting And Self-Regulation By Consumer Finance Firms?

On June 25, 2013, the Consumer Financial Protection Bureau (CFPB or the Bureau) issued CFPB Bulletin 2013-6, titled ‘‘Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation, and Cooperation.’’ The CFPB issued…more

CFPB, Compliance, Enforcement, Self-Regulatory Organizations, Self-Reporting

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Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

See All Updates »

CFPB’s New ‘‘Responsible Conduct’’ Guidelines: Will They Incentivize Greater Self-Reporting And Self-Regulation By Consumer Finance Firms?

On June 25, 2013, the Consumer Financial Protection Bureau (CFPB or the Bureau) issued CFPB Bulletin 2013-6, titled ‘‘Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation, and Cooperation.’’ The CFPB issued…more

CFPB, Compliance, Enforcement, Self-Regulatory Organizations, Self-Reporting

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Petitions to Modify or Set Aside CFPB Civil Investigative Demands (CIDs): Analysis of Recent Decisions

The Consumer Financial Protection Bureau (CFPB) has been using Civil Investigative Demands (CIDs) to investigate whether financial institutions are engaging in conduct that violates consumer financial laws. Two recent decisions…more

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Fair Lending Principles Must Underpin Loss Mit

The Obama Administration and Congress have searched for foreclosure alternatives to address the increasing number of defaulting residential mortgage loans, which rose to 9.47% in the fourth quarter of 2009. Some of these…more

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Lawyers' Trust Accounts Benefit From Unlimited Deposit Insurance

"The financial crisis that began in September 2008 and resulted in many bank failures caused some lawyers to reconsider the rules applicable to trust accounts. While frequent users of trust accounts are probably familiar with…more

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Challenging FIRREA Subpoenas: The RMBS Working Group Faces Subpoena Fight

As the Justice Department has stepped up its pursuit of financial institutions, there has been a surge of civil fraud lawsuits brought by the government under FIRREA — the Financial Institutions Reform, Recovery, and Enforcement…more

Civil Monetary Penalty, DOJ, Enforcement, Fannie Mae, FIRREA

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The New "Independent Ability to Pay" Requirement for Open-End Credit Under the Federal Reserve Board's Reg Z

The March 18, 2011 Regulation Z amendments adopted by the Federal Reserve Board clarify aspects of the open-end credit card rules adopted to implement changes to the Truth in Lending Act, under the Credit Card Accountability,…more

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Spotlight On The Short-Term Credit Crackdown

Short-term lending is under a new round of attacks, and this time some banks are feeling the heat. The New York State Department of Financial Services recently issued a letter to 117 banks requesting that they “choke off"…more

Enforcement Actions, Financial Services Authority, Loans, Short-Term Investments

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NACHA’s Guidelines For Bill Payments Via QR Codes

NACHA, the Electronic Payments Association, has just taken a step towards easing consumer payments via mobile devices. The Council for Electronic Billing and Payment, a subsection of NACHA, released its 'Quick Response Encoding…more

Mobile Devices, NACHA, QR Codes

See All Updates »

Emerging Enforcement Activity Trends Toward Vicarious Liability For Service Providers

The Consumer Financial Protection Bureau’s (CFPB) latest enforcement action brings the total count relating to ancillary credit products to five. A common theme in the resulting consent orders is service provider management —…more

CFPB, Dodd-Frank, Enforcement Actions, Vicarious Liability

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The British (Financial Regulatory Principles) Are Coming!

Regulation of financial products and services in the U.S. historically has relied on rules-based regulatory policy, governing business processes including disclosures relating to terms, pricing, structure and marketing. The U.K…more

Financial Products, Regulatory Standards, UK

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Infobytes Special Alert: CFPB Finalizes Rule Combining TILA And RESPA Mortgage Disclosures

On November 20, 2013, the CFPB finalized its long-awaited rule combining the mortgage disclosures consumers receive under the Truth in Lending Act (“TILA”) and the Real Estate Settlement Procedures Act (“RESPA”). For more than…more

CFPB, Dodd-Frank, HUD, Mortgage Servicing Rules, Mortgages

See All Updates »

Disparate Impact In Fair Lending: A Theory Without A Basis And The Law Of Unintended Consequences

The disparate impact theory of discrimination allows the government or a private plaintiff to establish discrimination based solely on the outcome of a neutral policy, without having to prove any actual intent to discriminate…more

Anti-Discrimination Policies, Discrimination, Disparate Impact, Fair Lending, FHA

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HELOCKed: Putative Class Survives Dismissal Under "Fair Lending" Standard

It was a not unexpected result at the motion to dismiss stage: On June 30, 2011, the Northern District of Illinois permitted borrowers in a multi-district litigation putative class action to go forward with claims that JPMorgan…more

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Surviving and Thriving in FHA's New Environment

The downturn in the housing and finance markets in 2006-2008 resulted in several new measures at the Federal Housing Administration, as it sought to limit risk to the mortgage insurance fund. Increased enforcement efforts became…more

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CFPB’s New ‘‘Responsible Conduct’’ Guidelines: Will They Incentivize Greater Self-Reporting And Self-Regulation By Consumer Finance Firms?

On June 25, 2013, the Consumer Financial Protection Bureau (CFPB or the Bureau) issued CFPB Bulletin 2013-6, titled ‘‘Responsible Business Conduct: Self-Policing, Self-Reporting, Remediation, and Cooperation.’’ The CFPB issued…more

CFPB, Compliance, Enforcement, Self-Regulatory Organizations, Self-Reporting

See All Updates »

Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

See All Updates »

FCPA: Were the Sting Trials Doomed From the Start?

The authors had front row seats to the challenges facing the government in the Foreign Corrupt Practices Act (FCPA) Sting trials, having represented a client who obtained a mistrial when the jury failed to reach a unanimous…more

See All Updates »

Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

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SAFE or Out? Who's In, Who's Not Under the SAFE Act?

Since the Secure and Fair Enforcement for Mortgage Licensing Act was signed into law in 2008, the states have adopted licensing laws compliant with the new federal standard, but questions remain about who is covered by the SAFE…more

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Special Alert: OCC Updates Third-Party Risk Management Guidance

On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings…more

Affiliates, Banks, Contract Drafting, Due Diligence, Joint Venture

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Highway To The Danger Zone: Automotive Lending And The Servicemembers Civil Relief Act

This past March, Carl Nuss — a 75-year-old used car dealer from Birmingham, Alabama — received a letter from one of his customers, requesting that Mr. Nuss reduce the customer’s interest rate to six percent since the customer…more

Automotive Loans, Compliance, DOJ, Enforcement, Investigations

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FCPA: Recent Enforcement Activity Sounds Warning for Financial Services Industry

"When Cheryl J. Scarboro, Chief of the U.S. Securities and Exchange Comission's (SEC) Foreign Corrupt Practices Act (FCPA) enforcement unit, remarked in November 2010 that her unit "will continue to focus on industry-wide sweeps…more

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The British (Financial Regulatory Principles) Are Coming!

Regulation of financial products and services in the U.S. historically has relied on rules-based regulatory policy, governing business processes including disclosures relating to terms, pricing, structure and marketing. The U.K…more

Financial Products, Regulatory Standards, UK

See All Updates »

Special Alert: OCC Updates Third-Party Risk Management Guidance

On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings…more

Affiliates, Banks, Contract Drafting, Due Diligence, Joint Venture

See All Updates »

Challenging FIRREA Subpoenas: The RMBS Working Group Faces Subpoena Fight

As the Justice Department has stepped up its pursuit of financial institutions, there has been a surge of civil fraud lawsuits brought by the government under FIRREA — the Financial Institutions Reform, Recovery, and Enforcement…more

Civil Monetary Penalty, DOJ, Enforcement, Fannie Mae, FIRREA

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Lenity, Chevron Deference And Consumer Protection Laws

Several federal statutes, including the Real Estate Settlement Procedures Act (“RESPA”), the Truth in Lending Act (“TILA”) and the Servicemembers Civil Relief Act (“SCRA”) permit the government to seek either civil or criminal…more

Chevron, Chevron Deference, Enforcement Actions, HUD, Mortgages

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Opportunities in Account Aggregation

Web account aggregation allows consumers to consolidate their information, including banking, billing and even frequent traveler mileage statements, in single sites. Aggregation promises to simplify the lives of consumers by…more

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Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

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Is Your Business Affected by the US FCPA? Are You Sure?

The American expression, “you can’t escape the long arm of the law,” is especially true when it comes to the United States Foreign Corrupt Practices Act (the “FCPA”). Many companies operating in Asia are subject to the FCPA,…more

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Rising Tide of Operational Risk Demands Due Diligence in Vendor Selection

Considering the potential liability associated with outsourcing by the mortgage banking and mortgage servicing industries, as witnessed by widely publicized high-dollar settlements in government enforcement actions, recent…more

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New York Becoming the Leading Venue for Financial Fraud Whistleblower Suits

New York is quickly becoming the venue of choice for financial fraud whistleblowers suing under the False Claims Act (FCA). In this “BNA Insight” published in Bloomberg/BNA’s Banking Report, authors Ross Morrison, Matthew…more

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Crowdfunding Offers Attractive Alternative But SEC Must Give More Clarity

Crowdfunding emerged in 2005, allowing enterpreneurs to solicit capital from anyone with internet access. The model has since exploded, but not without some obstacles. Because some types of crowdfunding promise or offer a…more

Crowdfunding, JOBS Act, SEC

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CFPB Investigations In Focus: Navigating CIDs

The Consumer Financial Protection Bureau was established in July 2011, with the mission of making “markets for consumer financial products and services work for Americans.” Over the last two years, it has been actively engaged…more

Banks, CFPB, CID, Compliance, Investigations

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FCPA: Were the Sting Trials Doomed From the Start?

The authors had front row seats to the challenges facing the government in the Foreign Corrupt Practices Act (FCPA) Sting trials, having represented a client who obtained a mistrial when the jury failed to reach a unanimous…more

See All Updates »

Highway To The Danger Zone: Automotive Lending And The Servicemembers Civil Relief Act

This past March, Carl Nuss — a 75-year-old used car dealer from Birmingham, Alabama — received a letter from one of his customers, requesting that Mr. Nuss reduce the customer’s interest rate to six percent since the customer…more

Automotive Loans, Compliance, DOJ, Enforcement, Investigations

See All Updates »

Expanded Criminal Enforcement in the Financial Services Industry

Since the economic meltdown began in 2008, the media have waged a relentless attack on the financial industry as the greedy culprit. "So where are all the prosecutions that we were promised?" the white-collar bar has wondered…more

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Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

See All Updates »

Infobytes Special Alert: HUD Adopts Its Own QM Rule

On December 11, 2013, the Department of Housing and Urban Development (“HUD”) issued a final rule defining what constitutes a “qualified mortgage” (“QM”) for purposes of loans insured by the Federal Housing Administration…more

CFPB, FHA, HUD, Mortgages, Qualified Mortgage Rule

See All Updates »

Special Alert: OCC Updates Third-Party Risk Management Guidance

On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings…more

Affiliates, Banks, Contract Drafting, Due Diligence, Joint Venture

See All Updates »

Disparate Impact In Fair Lending: A Theory Without A Basis And The Law Of Unintended Consequences

The disparate impact theory of discrimination allows the government or a private plaintiff to establish discrimination based solely on the outcome of a neutral policy, without having to prove any actual intent to discriminate…more

Anti-Discrimination Policies, Discrimination, Disparate Impact, Fair Lending, FHA

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FHFA Inspector General Emerging As Key Enforcement Player: What To Expect In 2014

These days, there is certainly no shortage of investigators, auditors, regulators, and prosecutors inundating the financial services industry with audits, inquiries, civil investigative demands, and subpoenas. Some of these…more

CFPB, Department of Financial Services, Enforcement, FHFA, Subpoenas

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Fair Lending Principles Must Underpin Loss Mit

The Obama Administration and Congress have searched for foreclosure alternatives to address the increasing number of defaulting residential mortgage loans, which rose to 9.47% in the fourth quarter of 2009. Some of these…more

See All Updates »

Look Before You Invest: Bitcoins, Virtual Currencies, Emerging Payment Products and Regulatory Compliance

Some regulators have already started pursuing virtual currency and emerging payment providers, with unhappy consequences for financial innovators and their investors. Investors should therefore proceed with caution, demanding…more

Bitcoins, FinCEN, Legal Perspectives, Virtual Currency

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Banker Beware: EB-5 Programs Can Be Fraught With Peril

The EB-5 visa, created by Section 203(b)(5) of the United State's (U.S.) Immigration Act of 1990, was established to attract foreign capital and create U.S. jobs by providing a method of obtaining a Green Card for foreign…more

EB-5, Green Cards, Immigrants, Visas

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Look Before You Invest: Bitcoins, Virtual Currencies, Emerging Payment Products and Regulatory Compliance

Some regulators have already started pursuing virtual currency and emerging payment providers, with unhappy consequences for financial innovators and their investors. Investors should therefore proceed with caution, demanding…more

Bitcoins, FinCEN, Legal Perspectives, Virtual Currency

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New Fair Lending Initiatives

The U.S. Department of Housing and Urban Development, the New York State Banking Department, and the Federal Trade Commission have emerged as enforcers of the laws prohibiting lending discrimination on the bases of race, color,…more

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Special Alert: OCC Updates Third-Party Risk Management Guidance

On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings…more

Affiliates, Banks, Contract Drafting, Due Diligence, Joint Venture

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Avoiding The FCA & FIRREA Trap: Practical Tips For Compliance Professionals

As the government becomes increasingly aggressive in its efforts to fight financial fraud, companies naturally are looking for new ways to avoid becoming the next target. In the last two years, the Department of Justice…more

Chief Compliance Officers, Compliance, DOJ, FCA, FHFA

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The British (Financial Regulatory Principles) Are Coming!

Regulation of financial products and services in the U.S. historically has relied on rules-based regulatory policy, governing business processes including disclosures relating to terms, pricing, structure and marketing. The U.K…more

Financial Products, Regulatory Standards, UK

See All Updates »

Special Alert: OCC Updates Third-Party Risk Management Guidance

On October 30, the OCC issued Bulletin 2013-29 to update guidance relating to third-party risk management. The Bulletin, which rescinds OCC Bulletin 2001-47 and OCC Advisory Letter 2000-9, requires banks and federal savings…more

Affiliates, Banks, Contract Drafting, Due Diligence, Joint Venture

See All Updates »

Banker Beware: EB-5 Programs Can Be Fraught With Peril

The EB-5 visa, created by Section 203(b)(5) of the United State's (U.S.) Immigration Act of 1990, was established to attract foreign capital and create U.S. jobs by providing a method of obtaining a Green Card for foreign…more

EB-5, Green Cards, Immigrants, Visas

See All Updates »

Areas of Practice
  • Appellate Practice
  • Bankruptcy
  • Business Organizations
  • Business Torts
  • Class Action
  • Commercial Law & Contracts
  • Criminal Law
  • Finance & Banking
  • Government
  • Insurance
  • International Law & Trade
  • Litigation
  • Mergers & Acquisitions
  • Privacy
  • Real Estate
  • Science, Computers, & Tech
  • Securities Law
See more
Locations
Other U.S. Locations
  • California
  • D.C.
  • Illinois
  • New York
Number of Attorneys

100+ Attorneys

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