Will Resiliency Carry the Digital Asset Sector Through 2024: Federal Legislative Developments and OFAC Consent Orders — The Crypto Exchange Podcast
Takeaways for Banks from the CFPB’s Recent Consent Order on Garnishment Orders
On September 11, the CFPB announced that it had entered into a consent order with a national bank resolving allegations that the bank reported inaccurate information to consumer reporting companies. The bank agreed to pay...more
Tasty Baking Company (“Tasty”), a manufacturer of prepackaged goods, terminated Distefano, Inc. (“Distefano”), Maryland-based owner of a franchise with rights to sell Tasty products in a prescribed area called a “route.”...more
On September 11, 2024, the CFPB issued an administrative consent order against the Bank, alleging multiple violations of the Fair Credit Reporting Act (FCRA), the Consumer Financial Protection Act (CFPA), and the Furnisher...more
As we wrote about last week, the Federal Trade Commission (FTC) recently announced that it had entered a proposed settlement with video equipment surveillance company Verkada over the company’s alleged security failures....more
This newsletter explores the emerging legal topics and issues affecting the condominium and cooperative services industry. Thought-leading attorneys from Moritt Hock & Hamroff’s Condominium and Cooperative Services Practice...more
The National Labor Relations Board (NLRB) has long allowed employers and unions to resolve cases arising from unfair labor practice charges without a full adjudication on the merits. The most common way in which this is...more
Seyfarth Synopsis: On August 22, 2024, the National Labor Relations Board (“NLRB” or the “Board”) issued a decision in Metro Health, Inc. d/b/a Hospital Metropolitano Rio Piedras ending more than 50 years of the Board’s...more
A recent National Labor Relations Board (NLRB) decision has ended the practice of administrative law judge (ALJ) approval of consent orders to resolve unfair labor practice (ULP) charges. This is yet another development from...more
On August 29, the CFPB issued a consent order against a non-bank direct mortgage lender for misrepresenting the cost of its cash-out refinance loans, which are guaranteed under the VA home loan program, to active-duty...more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week... ...more
The Federal Trade Commission (FTC) has been actively flexing its authority as a privacy regulator in recent months. The agency has been especially focused on identifying data practices it views to be “unfair”, thereby...more
On August 27, 2024, the New York State Department of Financial Services (“NYDFS”) announced a consent order involving a $35 million settlement with Nordea Bank Abp (“Nordea”) for alleged significant failures related to...more
On August 22, 2024, the National Labor Relations Board (the ““Board”“) issued a decision in Metro Health, Inc. d/b/a Hospital Metropolitano Rio San Pedras, 373 NLRB No. 89 (2024), marking a significant departure from its...more
On August 21, the CFPB entered into a consent order with a nonbank mortgage servicer for mortgage servicing violations and for violating an earlier 2017 CFPB consent order for deficient foreclosure practices. In 2017, the...more
The Alabama Department of Environmental Management (“ADEM”) and Ecovery, LLC (“Ecovery”) entered into an August 7th Consent Order (“CO”) addressing an alleged violation of an Air Permit. The CO provides that Ecovery...more
On July 9, 2024, the Consumer Financial Protection Bureau issued a consent order against a nationally chartered bank that, among other things, includes a number of allegations related to the bank's policies regarding...more
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) announced it had entered into a consent order with NewDay USA, a Florida-based non-bank direct mortgage lender, over allegations that the lender misled...more
In a 3-1 decision, the National Labor Relations Board (“NLRB” or “Board”) ended the agency’s practice of approving “consent orders,” which permitted an administrative law judge to resolve an unfair labor practice case before...more
On August 21, 2024, the CFPB issued a Consent Order against the Company citing alleged failure to provide accurate information about loss mitigation options and improper handling of loan modifications. The Consent Order...more
On August 21, 2024, the Consumer Financial Protection Bureau (CFPB) announced that it entered into a consent order with a Florida-based mortgage servicer, resolving allegations related to the mortgage servicer’s...more
On August 6, the U.S. Court of Appeals for the Second Circuit issued a significant opinion that clarifies the requirements for pleading a reverse false claim under the False Claims Act (FCA). - The Second Circuit joined...more
On July 26, the U.S. District Court for the Northern District of Illinois granted in part and denied in part a discovery-related order in a case brought by the CFPB against a large credit reporting company and its executive...more
This article identifies themes we have observed in recent public formal enforcement actions issued to institutions by the US federal bank regulatory agencies (Agencies) — the Board of Governors of the Federal Reserve System...more
The Alabama Department of Environmental Management (“ADEM”) and George C. Marshall Space Flight Center (“MSFC”) entered into a July 10th Consent Order (“CO”) addressing an alleged violation of the Alabama Hazardous Waste...more
FirstCash, a national pawnshop chain, is asking a federal judge to confirm that it has a statutory defense to all of the CFPB’s claims that it violated the Military Lending Act (MLA) while also asking the judge to drop three...more