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Department of Defense (DOD) Consumer Financial Protection Bureau (CFPB) Banks

Ballard Spahr LLP

Holly Petraeus to retire from CFPB

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According to Politico, Holly Petraeus, Assistant Director of the CFPB’s Office of Servicemember Affairs, will be retiring from the CFPB. During her tenure at the CFPB, the protection of military servicemembers and their...more

Ballard Spahr LLP

Director Cordray appears before Senate Banking Committee

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On Wednesday, July 15, CFPB Director Richard Cordray appeared before the Senate Committee on Banking, Housing, & Urban Affairs to answer questions regarding the Bureau’s Semi-Annual Report to Congress and the President, which...more

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ABA criticizes CFPB study on high-cost credit extended to servicemembers

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The American Bankers Association has sent a letter to the Department of Defense “to alert the Department to shortcomings” in the CFPB’s study entitled “The extension of high-cost credit to servicemembers and their families”...more

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CFPB endorses MLA expansion

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In an effort to build support for the Department of Defense’s proposal to significantly expand Military Loan Act coverage, the CFPB has released a report entitled “The extension of high-cost credit to servicemembers and their...more

Morrison & Foerster LLP

DOD Proposes Significant Expansion of Military Lending Act Protections

On September 29, 2014, the Department of Defense (DOD) published a proposed rule in the Federal Register to amend its regulation implementing the Military Lending Act (MLA), 32 C.F.R. Part 232, to significantly expand the...more

Ballard Spahr LLP

CFPB to issue whitepaper on methodology for identifying auto finance discrimination and consider use of advisory opinions

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While Director Cordray’s appearance at the House Financial Services Committee’s hearing on the CFPB’s fifth Semi-Annual Report yesterday was accompanied by the usual dose of political theater, his testimony did yield the...more

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Proposal to expand Military Loan Act coverage appears likely

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Based on testimony to a Senate Committee last week by Holly Petraeus, CFPB Assistant Director with the Office of Servicemember Affairs, it looks very likely that an expansion of Military Loan Act coverage will be among...more

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