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: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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Special Alert: CFPB Issues Guidance On Supervision And Enforcement Of Mini-Correspondent Lenders

This afternoon, the CFPB issued policy guidance on supervision and enforcement considerations relevant to mortgage brokers transitioning to mini-correspondent lenders. The CFPB states that it “has become aware of increased…more

CFPB, Enforcement, Enforcement Actions, Lenders, 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: CFPB Guidance States That Successors Are Not Subject To The ATR/QM Rule

On July 8, 2014, the CFPB issued an interpretive rule stating that the addition of a successor as an obligor on a mortgage does not trigger the Ability-to-Repay/Qualified Mortgage Rule (“ATR/QM Rule”) requirements if the…more

Beneficiaries, CFPB, Creditors, Mortgages, Regulation Z

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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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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 »

Risks and Rewards for Financial Services Companies Banking in Africa

Africa’s economic growth is exploding. But despite projections of substantial economic expansion, banking infrastructure on the continent remains limited and largely overlooked by the international banking community. This…more

Africa, Banks, Emerging Markets, Foreign Banks, Foreign Investment

See All Updates »

Complaint Management Lessons From Dr. Seuss

To paraphrase a poem by the great Dr. Seuss, Oh, the places they’ve been. Oh, the places they’ll go! Consumer complaint management has been top of mind for the Consumer Financial Protection Bureau since the agency opened its…more

CFPB, Complaint Procedures, Compliance, Consumer Complaint Management, Consumer Complaint System

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A New Defense Against Municipal Disparate Impact Claims

Banks and non-bank lenders face a variety of fair lending disparate impact claims, which allege unintentional and unfavorable disparate impacts of otherwise neutral policies or practices on minority borrowers. Regulators,…more

ADEA, Age Discrimination, Disparate Impact, Fair Housing Act, Municipalities

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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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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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CFPB Announces Two Actions Related To Virtual Currencies

On August 11, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a “consumer advisory” concerning virtual currency and also announced that it would begin accepting consumer complaints about virtual currency or…more

Bitcoins, CFPB, Popular, Virtual Currency

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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: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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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

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Infobytes Special Alert: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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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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Infobytes Special Alert: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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

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The Board of Directors and Cybersecurity: Setting up the Right Structure

Security breaches have become a staple of the daily news. A national restaurant chain announced in August 2014, that a payment card processing system breach involved 33 restaurants in 18 states and that the incident lasted…more

Board of Directors, Cybersecurity, Data Breach, Data Protection, Hackers

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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 Board of Directors and Cybersecurity: Setting up the Right Structure

Security breaches have become a staple of the daily news. A national restaurant chain announced in August 2014, that a payment card processing system breach involved 33 restaurants in 18 states and that the incident lasted…more

Board of Directors, Cybersecurity, Data Breach, Data Protection, Hackers

See All Updates »

Infobytes Special Alert: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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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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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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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

See All Updates »

Infobytes Special Alert: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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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: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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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 In Focus: Navigating Investigational Hearings

The Consumer Financial Protection Bureau has been actively engaged in investigations of banks and nonbanks since it was established nearly three years ago. To further its mission “to ensure that consumer financial markets…more

Banks, CFPB, Compliance, Enforcement, Investigations

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Risks and Rewards for Financial Services Companies Banking in Africa

Africa’s economic growth is exploding. But despite projections of substantial economic expansion, banking infrastructure on the continent remains limited and largely overlooked by the international banking community. This…more

Africa, Banks, Emerging Markets, Foreign Banks, Foreign Investment

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

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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: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

See All Updates »

Infobytes Special Alert: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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

See All Updates »

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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The Board of Directors and Cybersecurity: Setting up the Right Structure

Security breaches have become a staple of the daily news. A national restaurant chain announced in August 2014, that a payment card processing system breach involved 33 restaurants in 18 states and that the incident lasted…more

Board of Directors, Cybersecurity, Data Breach, Data Protection, Hackers

See All Updates »

Complaint Management Lessons From Dr. Seuss

To paraphrase a poem by the great Dr. Seuss, Oh, the places they’ve been. Oh, the places they’ll go! Consumer complaint management has been top of mind for the Consumer Financial Protection Bureau since the agency opened its…more

CFPB, Complaint Procedures, Compliance, Consumer Complaint Management, Consumer Complaint System

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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The Board of Directors and Cybersecurity: Setting up the Right Structure

Security breaches have become a staple of the daily news. A national restaurant chain announced in August 2014, that a payment card processing system breach involved 33 restaurants in 18 states and that the incident lasted…more

Board of Directors, Cybersecurity, Data Breach, Data Protection, Hackers

See All Updates »

Pom v. Coke Will Impact Financial Services Too

Law 360, New York (June 23, 2014, 11:22 AM ET)--Legal and compliance departments, take note: the U.S. Supreme Court’s recent decision in Pom Wonderful LLC v.Coca-Cola Co. confirms that even i fan institution’s conduct meets the…more

Advertising, CFPB, Coca Cola, False Advertising, FDCA

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CFPB Announces Two Actions Related To Virtual Currencies

On August 11, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a “consumer advisory” concerning virtual currency and also announced that it would begin accepting consumer complaints about virtual currency or…more

Bitcoins, CFPB, Popular, Virtual Currency

See All Updates »

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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Complaint Management Lessons From Dr. Seuss

To paraphrase a poem by the great Dr. Seuss, Oh, the places they’ve been. Oh, the places they’ll go! Consumer complaint management has been top of mind for the Consumer Financial Protection Bureau since the agency opened its…more

CFPB, Complaint Procedures, Compliance, Consumer Complaint Management, Consumer Complaint System

See All Updates »

Special Alert: CFPB Supports Mortgage eClosings And Announces Pilot Program

On April 23, in conjunction with its “Know Before You Owe” initiative, the CFPB hosted a mortgage closing process forum, which featured remarks from Richard Cordray, HUD Secretary Shaun Donovan, consumer advocates, and industry…more

CFPB, HUD, Mortgages

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A New Defense Against Municipal Disparate Impact Claims

Banks and non-bank lenders face a variety of fair lending disparate impact claims, which allege unintentional and unfavorable disparate impacts of otherwise neutral policies or practices on minority borrowers. Regulators,…more

ADEA, Age Discrimination, Disparate Impact, Fair Housing Act, Municipalities

See All Updates »

CFPB Announces Two Actions Related To Virtual Currencies

On August 11, the Consumer Financial Protection Bureau (the CFPB or Bureau) issued a “consumer advisory” concerning virtual currency and also announced that it would begin accepting consumer complaints about virtual currency or…more

Bitcoins, CFPB, Popular, Virtual Currency

See All Updates »

Infobytes Special Alert: CFPB Bulletin Re-Emphasizes Focus On Mortgage Servicing Transfers

On August 19, 2014, the CFPB issued Bulletin 2014-01 to address “potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.” The bulletin, which is the latest in a series…more

CFPB, Mortgage Servicers, Mortgage Servicing Rules, Mortgages, Real Estate Transfers

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

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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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